Mixed-Use Building with
For Sale
$2,500,000
99-12 - 99-16 97th Street, Ozone Park, NY 11416
A fully occupied property combines commercial space with three two-bedroom apartments.
Property Size9,600 SF
Price / SF$260.42
Days on Market488
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
Financials
Gross Income
$165,984
Average Monthly Rent
$1,944
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Office Units
1
Additional Details
Road Access
Yes
Tenant in Place
Yes
Property Use
Mixed-Use
Taxes and HOA fees
Annual Taxes
$13,692
Amenities
Excellent 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) 783-5600
Listed By:
Richard Matt Shane · License #1020151
(516) 279-8828
Source:
Croninreale
Added: Jun 24, 2025
Changed: Oct 24
Last Checked: Oct 23 at 5:38PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,600-square-foot mixed-use building, completed in 2006, contains five units: a ground-floor wine distributor, a first-floor medical office, and three two-bedroom apartments above. The top apartment includes a 2,400-square-foot penthouse and a 200-square-foot terrace. Building features include an elevator, 11-foot ceilings, eight parking spaces, three-phase power, central air conditioning, and updated LED lighting. The property is zoned R 4-1 and has more than 62 feet of frontage on 97th Street.
In Ozone Park, the building sits two blocks from Woodhaven Boulevard and near retailers, restaurants, banks, and self-storage facilities. The medical office lease is scheduled to expire on May 26, 2026, with no options. The wine distributor has occupied its space for more than 15 years, and the medical office has been in place since 2017.
In Ozone Park, the building sits two blocks from Woodhaven Boulevard and near retailers, restaurants, banks, and self-storage facilities. The medical office lease is scheduled to expire on May 26, 2026, with no options. The wine distributor has occupied its space for more than 15 years, and the medical office has been in place since 2017.
Key Highlights
- Five‑unit configuration: wine distributor, medical office, and three two‑bedroom apartments
- 9,600 square feet; completed in 2006
- More than 62 feet of frontage on 97th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$221,357
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A fully occupied property combines commercial space with three two-bedroom apartments.
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 configuration: wine distributor, medical office, and three two‑bedroom apartments; 9,600 square feet; completed in 2006; More than 62 feet of frontage on 97th Street
