Flushing Mixed-Use Building For
For Sale
$7,500,000
132-50 41ST Ave, Queens, NY 11354
Prime mixed-use building in Flushing, near transportation and amenities.
Property Size13,123 SF
Price / SF$571.52
Days on Market115
Property Features for 132-50 41ST Ave
General Information
Standard status
Active
Size
13,123 SF
Property subtype
Commercial
Listing Agency:
E REALTY INTERNATIONAL CORP.
(646) 712-9996
Listed By:
Yi Cheng · License #10311205376
(646) 712-9996
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 15 at 7:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of E REALTY INTERNATIONAL CORP.
Investment Insights
Based on property information with market context.
Located in the heart of Flushing, this mixed-use building offers approximately 13,123 SF of interior space across six stories and a full basement. Constructed in 2017, the property is situated one block from the Long Island Rail Road and subway access, and minutes from the public library, benefiting from strong daily foot traffic. Each unit is equipped with separate utilities, allowing for efficient management and flexible leasing arrangements. The well-maintained building requires minimal renovation, presenting an opportunity for investors seeking stable income potential. The property also offers potential for future conversion to residential use, subject to approvals, providing both immediate cash flow and long-term development upside. The location is highly bikeable with a score of 64, and designated as a walker's paradise with a score of 96, and a rider's paradise with a transit score of 100.
Key Highlights
- Prime Flushing location, one block from LIRR and subway access.
- Newer construction (built in 2017), well‑maintained 6‑story building.
- Mixed‑use/Community Facility building with approximately 13,123 SF of interior space.
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
$432,059
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
5.76%
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%
$8,641,180
$8.6M
Cap Rate 7%
$6,172,271
$6.2M
Cap Rate 9%
$4,800,656
$4.8M
Market Conditions
NOI Build-Up for 13,123 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
$661.4K $50.40/SF
− Vacancy
−$85.3K −$6.50/SF
EGI
$576.1K $43.90/SF
− OpEx
−$144.0K −$10.97/SF
NOI
$432.1K $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%
$8,641,180
Cap Rate 7%
$6,172,271
Cap Rate 9%
$4,800,656
Alternative Uses
Best Use
Office B
$6.17M
$5.40M – $7.20M
NOI $432,059 @ 7.0% cap · market cap 5.76%
Second Best
Retail
$3.35M
$2.93M – $3.90M
NOI $234,246 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$9.67M
$8.47M – $11.29M
NOI $677,210 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime mixed-use building in Flushing, near transportation and amenities.
Where is this mixed-use property located?
The property is located at 132-50 41ST Ave Queens, NY.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Prime Flushing location, one block from LIRR and subway access.; Newer construction (built in 2017), well‑maintained 6‑story building.; Mixed‑use/Community Facility building with approximately 13,123 SF of interior space.
