Fully Occupied Mixed-Use
For Sale
$2,500,000
99-12 - 99-16 97th Street, Ozone Park, NY 11416
R 4-1 zoning, elevator access, on-site parking, and commercial-residential space support a flexible building configuration.
Property Size9,600 SF
Days on Market433
Property Features for 99-12 - 99-16 97th Street
General Information
Standard status
Active
Size
9,600 SF
Total Parking Spaces
8
Elevators
Yes
Property subtype
Commercial
Zoning
R 4-1
Occupancy
100%
Net Operating Income
$145,506
Additional Details
Gross Income
$165,984
Office Units
1
Taxes and HOA fees
Annual Taxes
$13,692
Amenities
Signage
High 11' Ceilings
All New LED Lighting
3 Phase Power
CAC
Building Details
Building Size
9,600 SF
Year Built
2006
Buildings
1
Stories
5
Units
5
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Alexandermadisonhomes
Added: Jun 24, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:13AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
Built in 2006, this five-unit mixed-use property combines a ground-level commercial space, a medical office, and three two-bedroom apartments. The building includes an elevator, 11-foot ceilings, CAC, three-phase power, and new LED lighting. Eight parking spaces serve the property, while more than 62 feet of frontage along 97th Street provides a substantial street presence.
The property is in Ozone Park, two blocks from Woodhaven Boulevard, with nearby businesses and retailers including Chase Bank, The Home Depot, Stop & Shop, CVS, Marshalls, and McDonald's. R 4-1 zoning and the existing mix of commercial and residential occupancy provide a defined framework for an owner-user, investor, or developer evaluating the asset.
The property is in Ozone Park, two blocks from Woodhaven Boulevard, with nearby businesses and retailers including Chase Bank, The Home Depot, Stop & Shop, CVS, Marshalls, and McDonald's. R 4-1 zoning and the existing mix of commercial and residential occupancy provide a defined framework for an owner-user, investor, or developer evaluating the asset.
Key Highlights
- Five‑unit mixed‑use building with 3 two‑bedroom apartments
- R 4‑1 zoning and 2006 construction
- More than 62 feet of frontage on 97th Street
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
$221,357
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
8.85%
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%
$4,427,140
$4.4M
Cap Rate 7%
$3,162,243
$3.2M
Cap Rate 9%
$2,459,522
$2.5M
Market Conditions
NOI Build-Up for 9,600 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
$403.2K $42.00/SF
− Vacancy
−$34.3K −$3.57/SF
EGI
$368.9K $38.43/SF
− OpEx
−$147.6K −$15.37/SF
NOI
$221.4K $23.06/SF
Area
Queens County, NY
Vacancy
8.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
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%
$4,427,140
Cap Rate 7%
$3,162,243
Cap Rate 9%
$2,459,522
Alternative Uses
Best Use
Office B
$4.52M
$3.95M – $5.27M
NOI $316,068 @ 7.0% cap · market cap 12.64%
Second Best
Apartment 5plus
$3.35M
$2.93M – $3.91M
NOI $234,666 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$7.08M
$6.19M – $8.26M
NOI $495,406 @ 7.0% cap · market cap 19.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 11416, NY
28,381
Population
8,047
Households
3.5
Avg Household Size
35
Median Age
25%
College-Educated
78%
High-School Grad
0.7 sq mi
ZIP Area
40,544
Density / Sq Mi
$85,544
Median Household Income
$43,899
Median Earnings
$1,964
Median Rent
$733,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - R 4-1 zoning, elevator access, on-site parking, and commercial-residential space support a flexible building configuration.
Where is this mixed-use property located?
The property is located at 99-12 - 99-16 97th Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Five‑unit mixed‑use building with 3 two‑bedroom apartments; R 4‑1 zoning and 2006 construction; More than 62 feet of frontage on 97th Street
