Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    135-02-08 Northern Blvd Flushing, NY 11354

    View on Map
    For Sale
    $8,888,000

    SINGLE_FAMILY - Flushing, NY

    Type:Retail
    Property size:
    9,000 SF
    Lot size:
    0.14 Acres
    Added:
    Nov 5, 2024
    Days on Market:
    512
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 135-02-08 Northern Blvd

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    C4-2
    Rooms
    Basement
    Standard status
    Active
    APN
    04971-0022
    Size
    9,000 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    102945

    Utilities

    Heating system
    Natural Gas

    We can help!

    Listing Contact
    Li Li

    Listing agent Li Li

    Listing office B Square Realty 13620 38th Ave Ste 3E, Flushing, NY

    Listing date Nov 5, 2024

    MLS# L3589348

    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.

    Overview

    Flushing Corner Commercial Property

    This corner commercial property is situated on Flushing's Northern Boulevard, one block from Main Street. The property features over 100 feet of frontage and offers over 9,000 square feet of usable space across two buildings, situated on a combined lot of 6,174 square feet. The location benefits from high traffic, accessibility, and visibility. The property includes two frontages and is equipped with gas service and full basements, providing flexibility for various business uses. Zoned C4-2, the buildings offer development potential and are situated in a bustling neighborhood. The property is suited for dining, retail, entertainment, or service industries, and offers prospects for future development, potentially providing returns for establishing a presence in Flushing's business district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8271
    Latitude
    40.7686

    Nearby Similar for Sale

    • $30,000

      Storefront on Kissena Boulevard, Flushing

      High-visibility storefront, ideal for cafe or fast-food concept.
      4125 Kissena Boulevard, Flushing, NY 11355
      View Details
    • $899,000

      Turn-Key Medical Office in Flushing

      Ground floor medical office in prime Downtown Flushing location.
      134-43 Maple Avenue unit: C1b, Flushing, NY 11355
      View Details
    • $580,000

      Flushing Community Facility Unit

      959 sqft Community Facility unit in prime Flushing location.
      14024 31st Drive unit: Cf, Flushing, NY 11354
      View Details
    • $371,000

      Flushing Retail Business For Sale

      Established nail supply business with exclusive wholesale rights.
      5904 Kissena Boulevard, Flushing, NY 11355
      View Details
    • $1,568,000

      Union Center: Class A Commercial

      New Class A commercial development in Downtown Flushing.
      37-16 Union Street unit: 606, Flushing, NY 11354
      View Details
    • $2,208,000

      Union Center Commercial Space

      New Class A commercial development in Downtown Flushing.
      37-16 Union Street unit: 605, Flushing, NY 11354
      View Details
    • $1,656,000

      Flushing Union Center Commercial Space

      New Class A commercial development, ideal for professional or medical use.
      37-16 Union Street unit: 804, Flushing, NY 11354
      View Details
    • $1,058,000

      Union Center: Class A Commercial

      New Class A commercial development in Downtown Flushing.
      37-16 Union Street unit: 1102, Flushing, NY 11354
      View Details
    • $1,500,000

      Flushing Union Center Commercial Space

      New Class A commercial development, ideal for professional or medical use.
      37-16 Union Street unit: 506, Flushing, NY 11354
      View Details
    • $1,760,000

      New Class A Commercial Development

      Modern office and medical space in Downtown Flushing.
      37-16 Union Street unit: 1604, Flushing, NY 11354
      View Details
    • $398,888

      Flushing Community Facility Condo

      Prime medical office space near hospitals in Flushing, NY.
      57-35 Lawrence St unit: Cf-Ba, Flushing, NY 11355
      View Details
    • $1,900,000

      Flushing Commercial Condominium For Sale

      2200 Sqft commercial condominium in prime downtown Flushing location.
      38-34 Parsons Boulevard unit: Cf2/1B, Flushing, NY 11354
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime Northern Boulevard location with high traffic and development potential.
    Where is this retail property located?
    The property is located at 135-02-08 Northern Blvd Flushing, NY.
    What is the asking price?
    The asking price for this property is $8,888,000.
    What are key features of this property?
    This property features: Prime Northern Boulevard location, just one block from Main Street in Flushing.; Boasting over 100 feet of frontage and 9,000+ sq ft of usable space across two buildings.; High traffic and exceptional visibility on a corner lot with expansive frontages.
    (646) 889-9988
    We can help!
    Listing Contact
    Li Li
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!