Flushing Retail and Office
45-16 162ND Street Flushing, NY 11358
45-16 162ND Street, Flushing, NY, 11358
$5,850,000
For Sale
$5,850,000
SINGLE_FAMILY - Flushing, NY
Property Size12,000 SF
Lot Size0.14 Acres
Price / SF$487.50
Days on Market118
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 agency
E Realty International Corp
(718) 886-8110
Listed by
Meiyu Li
(718) 666-5751
Added: Mar 27 Updated: May 19 at 3:15PM Checked: Jul 22 at 4:06PM
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 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.
Key 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.
Local 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 | $360.0k | $30.00 |
| − Vacancy | −$54.0k | −$4.50 |
| EGI | $306.0k | $25.50 |
| − OpEx | −$91.8k | −$7.65 |
| NOI | $214.2k | $17.85 |
12,000 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.06M
$2.68M – $3.57M
NOI $214,200 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
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 Analytics
Property Profile
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
Similar For Sale Nearby
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.
