Retail Storefront Units with
158-15 Union Turnpike Fresh Meadows, NY 11366
For Sale
$5,990,000
SINGLE_FAMILY - Fresh Meadows, NY
Property Size15,308 SF
Lot Size0.49 Acres
Price / SF$391.30
Days on Market362
Property Features for 158-15 Union Turnpike
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- R5D
- Parking
- 20
- Parking features
- Garage, Open
- Standard status
- Active
- Lot size
- 0.49 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 37066
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Ductless
- Water source
- Public
Building Details
- Year built
- 2018
- Floors in Building
- 1
- Number of units
- 3
- Building materials
- Brick
Listing Agency:
Keller Williams Rlty Landmark
(718) 475-2700
Listed By:
Annie Hsu · License #10301207568
(917) 725-7588
Added: Jul 28, 2025
Changed: Jul 9
Last Checked: Jul 24 at 1:06AM
MLS# 893552
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.
Offering three retail storefront units (1A, 1B, and 1D) within a young, well-maintained condo building at 158-15 Union Turnpike in Fresh Meadows, Queens. The units total 15,308 square feet and are located on the ground floor, supported by 20 indoor parking spaces.
Unit 1A is fully leased, and Units 1B and 1D are currently vacant, providing flexibility for immediate occupancy or new leasing. Zoned R5D, the units are described as suitable for a range of uses, including retail, office, and community facility uses.
Unit 1A is fully leased, and Units 1B and 1D are currently vacant, providing flexibility for immediate occupancy or new leasing. Zoned R5D, the units are described as suitable for a range of uses, including retail, office, and community facility uses.
Key Highlights
- Three retail storefront condo units (1A, 1B, 1D) totaling 15,308 SF in a building built in 2018
- Unit 1A is fully leased; Units 1B and 1D are vacant for immediate occupancy or new leasing
- Includes 20 indoor parking spaces in the condo building
Financial Insights For Retail
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 | $459.2k | $30.00 |
| − Vacancy | −$68.9k | −$4.50 |
| EGI | $390.4k | $25.50 |
| − OpEx | −$117.1k | −$7.65 |
| NOI | $273.2k | $17.85 |
15,308 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.90M
$3.42M – $4.55M
NOI $273,248 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.29M
$9.87M – $13.17M
NOI $789,966 @ 7.0% cap · market cap 13.19%
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 - Three ground-floor retail storefront units in a condo building with 20 indoor parking spaces, zoned R5D.
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 $5,990,000.
What are key features of this property?
This property features: Three retail storefront condo units (1A, 1B, 1D) totaling 15,308 SF in a building built in 2018; Unit 1A is fully leased; Units 1B and 1D are vacant for immediate occupancy or new leasing; Includes 20 indoor parking spaces in the condo building
