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    Flushing Parking Garage For Sale Title is generated by Realmo AI

    13668 Roosevelt Avenue, Flushing, NY 11354

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    New
    For Sale
    $2,200,000

    COMMERCIAL - Flushing, NY

    Property size:
    8,350 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $263/SF
    Added:
    May 20, 2026
    Days on Market:
    2
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 13668 Roosevelt Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C4-3
    Basement
    Full, Finished
    Standard status
    Active
    Size
    8,350 SF
    Lot size
    0.19 Acres

    Building Details

    Year built
    2014
    Building materials
    Brick

    We can help!

    Listing Contact
    Hui Bin (Sky) Wu

    Listing agent Hui Bin (Sky) Wu

    Listing office Tiger Realty 1484 86th Street, Brooklyn, NY

    Listing date May 20, 2026

    MLS# 501621

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Downtown Flushing location next to Macy's
    • Rare basement parking garage with approx. 120 parking spaces
    • Fully automated parking system
    • Close proximity to the 7 train entrance
    • Ideal for investment, long‑term holding, or owner use

    Overview

    Located in downtown Flushing, this property features a basement parking garage with approximately 120 parking spaces. The garage includes a fully automated parking system. Situated next to Macy's and close to the 7 train entrance, the property is located in a high-demand area. The property is zoned C4-3 and has a lot size of approximately 0.1917 acres. The property is suitable for investment, long-term holding, or owner use. The property size is 8350 square feet.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $1.66M
    NOI $149,048 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.13M
    NOI $149,048 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.98M
    NOI $149,048 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $250.5k $30.00
    − Vacancy −$37.6k −$4.50
    EGI $212.9k $25.50
    − OpEx −$63.9k −$7.65
    NOI $149.0k $17.85
    8,350 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $2.13M
    $1.86M – $2.48M (±1% cap)
    NOI $149,048 @ 7.0% cap · market cap 6.77%
    Second Best
    Industrial
    $750.4K
    $656.6K – $875.5K (±1% cap)
    NOI $52,529 @ 7.0% cap · market cap 2.39%
    Theoretical Best
    Office A
    $6.16M
    $5.39M – $7.18M (±1% cap)
    NOI $430,900 @ 7.0% cap · market cap 19.59%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Xiaojun Guo, ... Physician Heart Vein NYC ... Medical Clinic Erik Altman Physician 诚誉交通罚单中心 Law Firm

    Suggested Use

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

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

    Similar Places Nearby

    • U-Haul Moving & Storage of Flushing — 3630 College Point Blvd, Flushing, NY 11354
    • New Amber Auto Services Inc — 13338 41st Ave, Flushing, NY 11355
    • Tool & Truck Rental Center at The Home Depot — 131-35 Avery Ave, Queens, NY 11355
    • Hertz Car Rental - Flushing HLE — 133-45 41st Ave, Queens, NY 11355
    • Eastern Car Services Inc — 13259 Maple Ave, Flushing, NY 11355

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.827522
    Latitude
    40.75985

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    FAQs

    What type of property is this?
    Parking lot & garage - Prime downtown Flushing location with approximately 120 parking spaces.
    Where is this parking lot & garage located?
    The property is located at 13668 Roosevelt Avenue Flushing, NY.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Prime Downtown Flushing location next to Macy's; Rare basement parking garage with approx. 120 parking spaces; Fully automated parking system
    (917) 708-9966
    We can help!
    Listing Contact
    Hui Bin (Sky) Wu
    Learn More
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    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
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