Flushing Retail and Office
45-16 162ND Street, Flushing, NY 11358
SINGLE_FAMILY - Flushing, NY
Type:Retail
Property size:
12,000 SFLot size:
0.14 AcresPrice / SF:
$487/SF- Added:
- Mar 27, 2026
- Days on Market:
- 56
- Last Refresh:
- May 21 at 9:06 pm
Property Features for 45-16 162ND Street
General Information
- Property type
- Residential
- Property subtype
- Retail
- Rooms
- Basement
- Standard status
- Active
- APN
- 05440-0048
- Size
- 12,000 SF
- 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
Building Details
- Year built
- 1931
- Building materials
- Brick
Listing agent Meiyu Li (718) 666-5751
Listing office E Realty International Corp 3907 Prince St Ste 4D, Flushing, NY (718) 886-8110
Listing date Mar 27, 2026
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.
HighLights
- Prime retail location in the heart of Flushing with high foot traffic and exposure.
- Large building size of approximately 12,000 SF on a 6,000 SF lot.
- Fully commercial building renovated in 2006.
- Convenient access to public transportation, including multiple bus lines and proximity to the LIRR station.
- Two retail stores on the 1st floor and four office units on the 2nd floor.
- 800 SF basement with large windows.
Overview
This fully commercial building in the heart of Flushing presents a rare opportunity for investors and owner-users. Renovated in 2006, the brick building features large, street-facing windows that provide high visibility and exposure to significant foot traffic near Northern Boulevard. Convenient access to public transportation is available, with proximity to the Q12, Q13, Q26, Q27, and Q28 bus lines. The building has high ceilings and open space, along with a clean and bright 800 square foot basement that includes large windows. The lot size is approximately 6,000 square feet, while the building size is approximately 12,000 square feet. The first floor contains 2 retail stores, and the second floor offers 4 office units. Located approximately 4 blocks from Northern Boulevard and approximately 5 blocks from the LIRR station, the property offers strong income potential and future appreciation.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$4.39M
NOI $395,086 @ 9.00% cap · cautious / downside scenario
Moderate
$5.64M
NOI $395,086 @ 7.00% cap · market / base-case scenario
Aggressive
$7.90M
NOI $395,086 @ 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 | $604.8k | $50.40 |
| − Vacancy | −$78.0k | −$6.50 |
| EGI | $526.8k | $43.90 |
| − OpEx | −$131.7k | −$10.97 |
| NOI | $395.1k | $32.92 |
12,000 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Use Scenarios
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 local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
H D Parts ...
Auto Parts Store
KOREAN MEDIA GROUP
Media Distribution
주기쁨교회
Church
Andy Choi Accounting ...
Accounting Firm
NY Puppy Club ...
Pet Grooming Service
Location Insight
- Map
- Local Demand
- City
- Flushing
- County
- Queens
- State
- New York
- Longitude
- -73.799365
- Latitude
- 40.793587
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Prime commercial building in Flushing with retail and office spaces.
Where is this retail space 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: Prime retail location in the heart of Flushing with high foot traffic and exposure.; Large building size of approximately 12,000 SF on a 6,000 SF lot.; Fully commercial building renovated in 2006.
