Retail Storefront Units in Fresh
158-15 Union Turnpike, Fresh Meadows, NY 11366
SINGLE_FAMILY - Fresh Meadows, NY
Type:Retail
Property size:
15,308 SFLot size:
0.49 AcresPrice / SF:
$391/SF- Added:
- Jul 28, 2025
- Days on Market:
- 298
- Last Refresh:
- May 21 at 8:06 pm
Property Features for 158-15 Union Turnpike
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- R5D
- Parking
- 20
- Parking features
- Open, Garage
- Standard status
- Active
- Size
- 15,308 SF
- 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 agent Annie Hsu License #10301207568 (917) 725-7588
Listing office Keller Williams Rlty Landmark 3255 Francis Lewis Blvd, Flushing, NY (718) 475-2700
Listing date Jul 28, 2025
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.
HighLights
- High‑visibility ground floor location in prime Fresh Meadows area with excellent foot traffic.
- Potential for a 10%+ cap rate with all units leased, offering strong returns.
- Three retail storefront units totaling 15,308 SqFt in a well‑maintained 2018 condo building.
- Includes 20 indoor parking spaces.
- Unit 1A is fully leased, while Units 1B and 1D are vacant, offering immediate occupancy or new leasing opportunities.
- R5D zoning allows for versatile uses.
Overview
Three retail storefront units, identified as 1A, 1B, and 1D, are available for purchase. These units are located on the ground floor of a well-maintained condominium building and total 15,308 square feet. The property benefits from high visibility and significant foot traffic due to its location in Fresh Meadows. The offering includes 20 indoor parking spaces. Unit 1A is currently leased, while Units 1B and 1D are vacant, presenting opportunities for immediate occupancy or new leasing agreements. Zoned R5D, the units accommodate various uses, including retail, office, and community facilities. The property, situated on a lot of approximately 0.4892 acres, offers potential for a cap rate of 10% with all three units leased.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$5.60M
NOI $503,998 @ 9.00% cap · cautious / downside scenario
Moderate
$7.20M
NOI $503,998 @ 7.00% cap · market / base-case scenario
Aggressive
$10.08M
NOI $503,998 @ 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 Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $771.5k | $50.40 |
| − Vacancy | −$99.5k | −$6.50 |
| EGI | $672.0k | $43.90 |
| − OpEx | −$168.0k | −$10.97 |
| NOI | $504.0k | $32.92 |
15,308 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$7.20M
$6.30M – $8.40M
NOI $503,998 @ 7.0% cap · market cap 8.41%
Second Best
Retail
$3.90M
$3.42M – $4.55M
NOI $273,248 @ 7.0% cap · market cap 4.56%
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Midea Air Conditioner ...
Electronics & Wireless Store
Midea Air Conditioning ...
Big Box & Wholesale Store
Location Insight
- Map
- Local Demand
- City
- Fresh Meadows
- County
- Queens
- State
- New York
- Longitude
- -73.86166
- Latitude
- 40.703722
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Three retail units with high visibility and excellent foot traffic.
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: High‑visibility ground floor location in prime Fresh Meadows area with excellent foot traffic.; Potential for a 10%+ cap rate with all units leased, offering strong returns.; Three retail storefront units totaling 15,308 SqFt in a well‑maintained 2018 condo building.
