Mixed-Use Commercial
For Sale
$5,850,000
45-16 162ND Street, Flushing, NY 11358
Commercial Sale, Flushing, NY
Property Size12,000 SF
Lot Size0.14 Acres
Price / SF$487.50
Days on Market171
Property Features for 45-16 162ND Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Rooms
Basement
Standard status
Active
APN
05440-0048
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
103217
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
large street-facing windows
high ceilings
clean and bright basement with large windows
Building Details
Year built
1931
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Meiyu Li
(718) 666-5751
Added: Mar 27
Changed: Aug 20
Last Checked: Sep 13 at 10:06PM
MLS# 977252
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.
This fully commercial brick property contains approximately 12,000 SF of building area on an approximately 6,000 SF lot. The first floor is configured with two retail stores, while the second floor includes four office units. An approximately 800 SF basement provides additional space and features large windows. The building was renovated in 2006 and includes high ceilings, open interior areas, forced-air heat, and central air conditioning.
Located on 162nd Street, the property is approximately four blocks from Northern Blvd and approximately five blocks from the LIRR station. Q12, Q13, Q26, Q27, and Q28 bus service is nearby. Public water and sewer serve the property, and water is available.
Located on 162nd Street, the property is approximately four blocks from Northern Blvd and approximately five blocks from the LIRR station. Q12, Q13, Q26, Q27, and Q28 bus service is nearby. Public water and sewer serve the property, and water is available.
Key Highlights
- Approximately 12,000 SF building on an approximately 6,000 SF lot
- First floor includes 2 retail stores; second floor has 4 office units
- Approximately 800 SF basement with large windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$395,086
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,901,720
$7.9M
Cap Rate 7%
$5,644,086
$5.6M
Cap Rate 9%
$4,389,844
$4.4M
Market Conditions
NOI Build-Up for 12,000 SF
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.
Gross rent
$604.8K $50.40/SF
− Vacancy
−$78.0K −$6.50/SF
EGI
$526.8K $43.90/SF
− OpEx
−$131.7K −$10.97/SF
NOI
$395.1K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,901,720
Cap Rate 7%
$5,644,086
Cap Rate 9%
$4,389,844
Alternative Uses
Best Use
Office B
$5.64M
$4.94M – $6.58M
NOI $395,086 @ 7.0% cap · market cap 6.75%
Second Best
Retail
$3.06M
$2.68M – $3.57M
NOI $214,200 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$8.85M
$7.74M – $10.32M
NOI $619,258 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial building combines street-facing retail with upper-level office units and public transportation access.
Where is this mixed-use property located?
The property is located at 45-16 162ND Street Flushing, NY.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: Approximately 12,000 SF building on an approximately 6,000 SF lot; First floor includes 2 retail stores; second floor has 4 office units; Approximately 800 SF basement with large windows
