Built-Out Salon Spa
For Sale
$775,000
92-29 Queens Boulevard #Cu15, Rego Park, NY 11374
Operational salon with treatment rooms, reception, staff kitchen, and laundry facilities.
Property Size1,700 SF
Days on Market50
Property Features for 92-29 Queens Boulevard #Cu15
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$26,000
Amenities
spacious reception area
staff kitchen
washer and dryer
two bathrooms
Building Details
Building Size
1,700 SF
Listing Agency:
Epique Realty
(516) 726-0727
Listed By:
Janet Straub
(516) 726-0727
Source:
Cohenandcohenrealty
Added: Jun 22
Changed: Aug 10
Last Checked: Aug 10 at 8:37AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This fully operational salon occupies a corner position on Queens Boulevard in Rego Park. The finished interior includes eight styling stations, four shampoo sinks, two dryer areas, and two private facial rooms. A reception area supports client arrival, while the staff kitchen, washer and dryer, and two bathrooms add practical back-of-house functionality.
Curved glass frontage brings the space a distinctive street-facing presentation. The property is located at 92-29 Queens Boulevard #Cu15 and is surrounded by major retail destinations with constant foot traffic. Additional stations may be added, providing flexibility within the existing salon layout.
Curved glass frontage brings the space a distinctive street-facing presentation. The property is located at 92-29 Queens Boulevard #Cu15 and is surrounded by major retail destinations with constant foot traffic. Additional stations may be added, providing flexibility within the existing salon layout.
Key Highlights
- Eight styling stations, four shampoo sinks, and two dryer areas
- Two private facial rooms within the existing salon layout
- Curved glass frontage at a Queens Boulevard corner location
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
$30,345
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
3.92%
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%
$606,900
$606.9K
Cap Rate 7%
$433,500
$433.5K
Cap Rate 9%
$337,167
$337.2K
Market Conditions
NOI Build-Up for 1,700 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
$51.0K $30.00/SF
− Vacancy
−$7.7K −$4.50/SF
EGI
$43.4K $25.50/SF
− OpEx
−$13.0K −$7.65/SF
NOI
$30.3K $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%
$606,900
Cap Rate 7%
$433,500
Cap Rate 9%
$337,167
Alternative Uses
Best Use
Retail
$433.5K
$379.3K – $505.8K
NOI $30,345 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,728 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
218k
Monthly Visits Nearby
Under-served
Demand for This Use
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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Similar Off Market Nearby
- Chang S Acupuncture Natural — 4520 43rd Ave, Queens, NY 11104
- Lee's Healing Hands Acupuncture, P.C. — 35-11 Queens Blvd, Long Island City, NY 11101
- Woodside Acupuncture, P.C. — 52-49 Queens Blvd 2nd Floor, Queens, NY 11377
- Dr. Iliana Cobeleta-Zilahi — 4345 44th St, Sunnyside, NY 11104
- Acufeel Good — 4345 44th St, Sunnyside, NY 11104
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Operational salon with treatment rooms, reception, staff kitchen, and laundry facilities.
Where is this spa & wellness property located?
The property is located at 92-29 Queens Boulevard #Cu15 Rego Park, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Eight styling stations, four shampoo sinks, and two dryer areas; Two private facial rooms within the existing salon layout; Curved glass frontage at a Queens Boulevard corner location
