Mixed-Use Building with Basement
95-07 Roosevelt Avenue, Queens, NY 11372
For Sale
$2,380,000
Mixed-use building with renovated basement retail space plus two residential units with no leases in place.
Property Size2,750 SF
Price / SF$865.45
Days on Market1586
Property Features for 95-07 Roosevelt Avenue
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
No, None
No
Full, No
Other, Public
7
Other/See Remarks
2.0
ICFs (Insulated Concrete Forms)
None, Near Public Transit, Near Shops
Building Details
Year Built
Buildings
Listing Agency:
B Square Realty
Listed By:
Li Li
(718) 939-8388
Source:
Compass
Added: Jul 6, 2022
Changed: Nov 6
Last Checked: Mar 25 at 1:01PM
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 B Square Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Mixed-use building offering one retail space in the basement, newly renovated, along with two residential units. The retail is currently vacant, and the residential units have no lease remaining, which may support straightforward occupancy planning for an owner-user or investor.
The property is located at 95-07 Roosevelt Avenue in Jackson Heights. It is approximately one block from the 7 train Junction Blvd subway station, with convenient access to major highways and surrounding retail and dining.
The building size is noted as 20 FT by 62 FT, and it was built in 1931.
The property is located at 95-07 Roosevelt Avenue in Jackson Heights. It is approximately one block from the 7 train Junction Blvd subway station, with convenient access to major highways and surrounding retail and dining.
The building size is noted as 20 FT by 62 FT, and it was built in 1931.
Key Highlights
- Newly renovated basement retail space
- Retail store is currently vacant
- Two residential units with no lease remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,222
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,440
$1.3M
Cap Rate 7%
$960,314
$960.3K
Cap Rate 9%
$746,911
$746.9K
Market Conditions
NOI Build-Up for 2,750 SF
Gross rent
$127.1K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$122.2K $44.44/SF
− OpEx
−$55.0K −$20.00/SF
NOI
$67.2K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,440
Cap Rate 7%
$960,314
Cap Rate 9%
$746,911
Alternative Uses
Best Use
Apartment 5plus
$960.3K
$840.3K – $1.12M
NOI $67,222 @ 7.0% cap · market cap 2.82%
Second Best
Retail
$701.3K
$613.6K – $818.1K
NOI $49,088 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,913 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
Market
Properties on Market for Mixed-use properties in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with renovated basement retail space plus two residential units with no leases in place.
Where is this mixed-use property located?
The property is located at 95-07 Roosevelt Avenue Queens, NY.
What is the asking price?
The asking price for this property is $2,380,000.
What are key features of this property?
This property features: Newly renovated basement retail space; Retail store is currently vacant; Two residential units with no lease remaining
