Brick Mixed-Use
For Sale
$1,388,000
9106 43rd Avenue Elmhurst, Ny, NY 11373
Brick building with a ground-floor restaurant and two residential units above.
Property Size3,240 SF
Price / SF$428.40
Days on Market47
Property Features for 9106 43rd Avenue Elmhurst
General Information
Standard status
Active
Size
3,240 SF
Zoning
R6B
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$34,465
Amenities
Full
1
2+ Common Walls
3
Yes
Public
No
On Street, Open
Municipal
3240
Public Maintained Road
Building Details
Building Size
3,240 SF
Year Built
1931
Stories
3
Listing Agency:
(718) 684-8000
Listed By:
Andrew Boodhoo
(718) 684-8000
Source:
Parkassets
Added: Jul 9
Changed: Aug 24
Last Checked: Aug 24 at 3:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Andrew Boodhoo
Investment Insights
Based on property information with market context.
This brick mixed-use building includes a ground-floor restaurant space with street-facing presence, along with two residential units above. The second floor is a 2-bedroom unit, and the third floor is a 3-bedroom unit. The residential units feature windowed layouts, supporting a straightforward live-and-income configuration.
The property is located at 9106 43rd Avenue in Elmhurst, Queens. Seller estimates indicate the commercial unit can generate approximately $8,400 per month, while the 2-bedroom and 3-bedroom units have projected rents ranging from $2,300–$4,000 and $3,500–$5,000 respectively, depending on the level of renovation. There is an open tax lien on the property of $89,000, which will be settled before or by closing. The seller is willing to hold paper up to approximately $400,000, and the buyer is required to come up with a minimum of $1,000,000.
The property is located at 9106 43rd Avenue in Elmhurst, Queens. Seller estimates indicate the commercial unit can generate approximately $8,400 per month, while the 2-bedroom and 3-bedroom units have projected rents ranging from $2,300–$4,000 and $3,500–$5,000 respectively, depending on the level of renovation. There is an open tax lien on the property of $89,000, which will be settled before or by closing. The seller is willing to hold paper up to approximately $400,000, and the buyer is required to come up with a minimum of $1,000,000.
Key Highlights
- Brick mixed‑use building built in 1931 with 3 total stories and a full basement
- Ground‑floor restaurant space plus two residential units above (2nd‑floor 2‑bedroom, 3rd‑floor 3‑bedroom)
- Public maintained road with municipal road frontage; water source is public
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,653
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,193,060
$2.2M
Cap Rate 7%
$1,566,471
$1.6M
Cap Rate 9%
$1,218,367
$1.2M
Market Conditions
NOI Build-Up for 3,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$165.2K $51.00/SF
− Vacancy
−$8.6K −$2.65/SF
EGI
$156.6K $48.35/SF
− OpEx
−$47.0K −$14.50/SF
NOI
$109.7K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,193,060
Cap Rate 7%
$1,566,471
Cap Rate 9%
$1,218,367
Alternative Uses
Best Use
Specialty Retail
$8.06M
$7.06M – $9.41M
NOI $564,538 @ 7.0% cap · market cap 40.67%
Second Best
Multifamily LT 5
$1.57M
$1.37M – $1.83M
NOI $109,653 @ 7.0% cap · market cap 7.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick building with a ground-floor restaurant and two residential units above.
Where is this mixed-use property located?
The property is located at 9106 43rd Avenue Elmhurst Ny, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Brick mixed‑use building built in 1931 with 3 total stories and a full basement; Ground‑floor restaurant space plus two residential units above (2nd‑floor 2‑bedroom, 3rd‑floor 3‑bedroom); Public maintained road with municipal road frontage; water source is public
