Three-Story Mixed-Use
For Sale
$2,399,999
9904 NORTHERN BLVD, Flushing, NY 11368
Brick mixed-use building with a visible storefront, three residential units, and a private garage.
Property Size4,240 SF
Price / SF$566.04
Days on Market277
Property Features for 9904 NORTHERN BLVD
General Information
Standard status
Active
Size
4,240 SF
Property subtype
Mixed Use
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$38,140
Amenities
3
Building Details
Year Built
1926
Stories
3
Tenancy
Multi
Listing Agency:
Chase Global Realty Corp
(718) 355-8788
Listed By:
Yong Li
(917) 583-9211
Source:
Xome
Added: Dec 1, 2025
Changed: Sep 1
Last Checked: Sep 4 at 4:27AM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This well-maintained, three-story mixed-use brick building features a highly visible commercial storefront and three income-producing residential units. The property also includes a private garage that provides additional revenue.
Located along a busy commercial corridor on Northern Boulevard in Corona, Queens, the building benefits from strong foot traffic and convenient access to transportation, shops, and neighborhood amenities.
The combination of street-level retail and residential income offers a straightforward live-and-work style configuration within one building.
Located along a busy commercial corridor on Northern Boulevard in Corona, Queens, the building benefits from strong foot traffic and convenient access to transportation, shops, and neighborhood amenities.
The combination of street-level retail and residential income offers a straightforward live-and-work style configuration within one building.
Key Highlights
- 3‑story brick mixed‑use building built in 1926
- Highly visible commercial storefront on busy Northern Boulevard in Corona, Queens
- Includes 3 income‑producing residential units
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
$103,644
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
4.32%
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%
$2,072,880
$2.1M
Cap Rate 7%
$1,480,629
$1.5M
Cap Rate 9%
$1,151,600
$1.2M
Market Conditions
NOI Build-Up for 4,240 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
$195.9K $46.20/SF
− Vacancy
−$7.4K −$1.76/SF
EGI
$188.4K $44.44/SF
− OpEx
−$84.8K −$20.00/SF
NOI
$103.6K $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%
$2,072,880
Cap Rate 7%
$1,480,629
Cap Rate 9%
$1,151,600
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,644 @ 7.0% cap · market cap 4.32%
Second Best
Retail
$1.08M
$946.1K – $1.26M
NOI $75,684 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $218,804 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick mixed-use building with a visible storefront, three residential units, and a private garage.
Where is this mixed-use property located?
The property is located at 9904 NORTHERN BLVD Flushing, NY.
What is the asking price?
The asking price for this property is $2,399,999.
What are key features of this property?
This property features: 3‑story brick mixed‑use building built in 1926; Highly visible commercial storefront on busy Northern Boulevard in Corona, Queens; Includes 3 income‑producing residential units
