Retail Condo in Fresh
158-15 Union Turnpike Fresh Meadows, NY 11366
For Sale
$3,990,000
SINGLE_FAMILY - Fresh Meadows, NY
Property Size9,748 SF
Price / SF$409.31
Days on Market64
Property Features for 158-15 Union Turnpike
General Information
- Property type
- Residential
- Property subtype
- Retail
- Parking
- 10
- Parking features
- Garage
- Standard status
- Active
- Size
- 9,748 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 25440
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Electric
- Water source
- Public
Building Details
- Year built
- 2018
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Brick
Listing Agency:
Keller Williams Rlty Landmark
(718) 475-2700
Listed By:
Annie Hsu · License #10301207568
(917) 725-7588
Added: May 22
Changed: May 26
Last Checked: Jul 24 at 12:06AM
MLS# 1003643
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.
Located in Fresh Meadows, this retail condo unit is situated in a modern mixed-use condominium building constructed in 2018. The ground-floor commercial unit offers approximately 9,748 square feet. It benefits from high visibility and strong pedestrian traffic. Previously leased at $28,000 per month on a triple-net (NNN) basis, the property presents an investment opportunity with a cap rate approaching 9%. A tax abatement is in place through 2033. Zoned R5D, the space accommodates a range of permitted uses, including retail, office, medical, and community facility. The property is located in a thriving neighborhood with strong demographics and convenient access to major roadways, public transportation, and nearby shopping destinations. The property is located in Queens.
Key Highlights
- High‑visibility ground‑floor retail condo in a modern mixed‑use building.
- Attractive investment opportunity with a cap rate approaching 9% and previous lease at $28,000/month (NNN).
- Tax abatement in place through 2033, reducing operating expenses.
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $491.3k | $50.40 |
| − Vacancy | −$63.4k | −$6.50 |
| EGI | $427.9k | $43.90 |
| − OpEx | −$107.0k | −$10.97 |
| NOI | $320.9k | $32.92 |
9,748 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.58M
$4.01M – $5.35M
NOI $320,941 @ 7.0% cap · market cap 8.04%
Second Best
Retail
$2.49M
$2.18M – $2.90M
NOI $174,002 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$7.19M
$6.29M – $8.38M
NOI $503,044 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Midea Air Conditioner ...
Electronics & Wireless Store
Midea Air Conditioning ...
Big Box & Wholesale Store
FAQs
What type of property is this?
Retail space - 9,748 SqFt commercial condo with tax abatement through 2033.
Where is this retail space located?
The property is located at 158-15 Union Turnpike Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: High‑visibility ground‑floor retail condo in a modern mixed‑use building.; Attractive investment opportunity with a cap rate approaching 9% and previous lease at $28,000/month (NNN).; Tax abatement in place through 2033, reducing operating expenses.
