Windowed Retail
For Sale
$489,888
92-29 Queens Boulevard, Rego Park, NY 11374
Commercial Sale, Rego Park, NY
Property Size792 SF
Lot Size0.58 Acres
Price / SF$618.55
Days on Market102
Property Features for 92-29 Queens Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R7-1
Parking features
On Street
Elementary school
Ps 206 Horace Harding School
Middle school
Jhs 157 Stephen A Halsey
High school
Contact Agent
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Contact Agent
Directions
Between Horace Harding Expressway and 62nd Avenue.
Standard status
Active
APN
02075-1007
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13548
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
Brick
Listing Agency:
BERKSHIRE HATHAWAY · Berkshire Hathaway HomeServices
(718) 650-5233
Listed By:
Boris Isakharov
(646) 474-6489
Added: May 14
Changed: Aug 20
Last Checked: Aug 23 at 5:06AM
MLS# 982989
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 792-square-foot retail space was built in 1986 and features six large windows oriented toward Queens Boulevard. Interior finishes include vinyl flooring, while heating is provided by natural-gas baseboard equipment and cooling by central air. The building is constructed of brick, with public water and public sewer service.
The property is in Rego Park near Queens Center Mall, public transportation, and the Long Island Expressway. On-street parking is available, and the site carries R7-1 zoning. The recorded lot size is 0.5847 acres.
The property is in Rego Park near Queens Center Mall, public transportation, and the Long Island Expressway. On-street parking is available, and the site carries R7-1 zoning. The recorded lot size is 0.5847 acres.
Key Highlights
- Approximately 792 sq ft of retail space
- Six large windows facing Queens Boulevard
- Near Queens Center Mall and public transportation
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
$14,137
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
2.89%
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%
$282,740
$282.7K
Cap Rate 7%
$201,957
$202.0K
Cap Rate 9%
$157,078
$157.1K
Market Conditions
NOI Build-Up for 792 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
$23.8K $30.00/SF
− Vacancy
−$3.6K −$4.50/SF
EGI
$20.2K $25.50/SF
− OpEx
−$6.1K −$7.65/SF
NOI
$14.1K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /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%
$282,740
Cap Rate 7%
$201,957
Cap Rate 9%
$157,078
Alternative Uses
Best Use
Retail
$202.0K
$176.7K – $235.6K
NOI $14,137 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$583.9K
$510.9K – $681.2K
NOI $40,871 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
218k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 27%
Groceries 11%
Office Supplies 9%
Staples
Office Supplies
19,965 visits/mo
0.4 miles
Bank of America
Shops & Services
17,011 visits/mo
0.2 miles
Starbucks
Dining
16,082 visits/mo
0.2 miles
White Castle
Dining
15,897 visits/mo
0.3 miles
Mobil
Shops & Services
15,832 visits/mo
0.0 miles
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Street-facing windows provide direct exposure along Queens Boulevard.
Where is this retail space located?
The property is located at 92-29 Queens Boulevard Rego Park, NY.
What is the asking price?
The asking price for this property is $489,888.
What are key features of this property?
This property features: Approximately 792 sq ft of retail space; Six large windows facing Queens Boulevard; Near Queens Center Mall and public transportation
