Mixed-Use Building with
For Sale
$2,500,000
99-12 - 99-16 97th Street, Ozone Park, NY 11416
Commercial Sale, Ozone Park, NY
Property Size9,200 SF
Lot Size0.07 Acres
Price / SF$271.74
Days on Market428
Property Features for 99-12 - 99-16 97th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R 4-1
Parking
8
Standard status
Active
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13692
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
LED Lighting
3 Phase Power
CAC
Signage
Exposure
High 11' Ceilings
Building Details
Year built
2006
Floors in Building
5
Number of units
5
Building materials
Block
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Added: Jun 23, 2025
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# 881682
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 2006 mixed-use property in Ozone Park combines commercial and residential occupancy within a block building. The configuration includes a lower-level wine distribution operation, a medical office, and three two-bedroom apartments, including a penthouse residence with a terrace. An elevator serves the building, which also features 11-foot ceilings, central air conditioning, all-new LED lighting, and three-phase power. Eight parking spaces support the property, while more than 62 feet of frontage extends along 97th Street.
The property is situated two blocks from Woodhaven Boulevard and is surrounded by a broad mix of national and regional retail, financial, automotive, pharmacy, restaurant, and self-storage businesses. R4-1 zoning and the existing mixed-use layout provide a combination of commercial and residential functionality. Public water and sewer service, natural gas availability, and natural gas heating serve the property.
The property is situated two blocks from Woodhaven Boulevard and is surrounded by a broad mix of national and regional retail, financial, automotive, pharmacy, restaurant, and self-storage businesses. R4-1 zoning and the existing mixed-use layout provide a combination of commercial and residential functionality. Public water and sewer service, natural gas availability, and natural gas heating serve the property.
Key Highlights
- Five‑unit mixed‑use configuration with three two‑bedroom apartments
- 100% occupied, including commercial and residential spaces
- 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
$224,889
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
9.00%
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%
$4,497,780
$4.5M
Cap Rate 7%
$3,212,700
$3.2M
Cap Rate 9%
$2,498,767
$2.5M
Market Conditions
NOI Build-Up for 9,200 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
$425.0K $46.20/SF
− Vacancy
−$16.2K −$1.76/SF
EGI
$408.9K $44.44/SF
− OpEx
−$184.0K −$20.00/SF
NOI
$224.9K $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 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%
$4,497,780
Cap Rate 7%
$3,212,700
Cap Rate 9%
$2,498,767
Alternative Uses
Best Use
Office B
$4.33M
$3.79M – $5.05M
NOI $302,899 @ 7.0% cap · market cap 12.12%
Second Best
Apartment 5plus
$3.21M
$2.81M – $3.75M
NOI $224,889 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$6.78M
$5.93M – $7.91M
NOI $474,764 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Fully occupied property combines commercial space, apartments, parking, and R4-1 zoning near Woodhaven Boulevard.
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 configuration with three two‑bedroom apartments; 100% occupied, including commercial and residential spaces; More than 62 feet of frontage on 97th Street
