Versatile Retail-Office
For Sale
$1,400,000
136-46 41st Ave 1C, Queens, NY 11355
Well-maintained unit with an open layout suited for retail or professional office use, with $417/month common charges.
Property Size1,300 SF
Price / SF$1,076
Days on Market112
Property Features for 136-46 41st Ave 1C
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,998
Building Details
Building Size
1,300 SF
Year Built
2008
Listing Agency:
(646) 427-0200
Listed By:
Fei Chen
(646) 427-0200
Source:
Elliman
Added: May 10
Changed: Aug 24
Last Checked: Aug 28 at 2:27PM
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 Fei Chen
Investment Insights
Based on property information with market context.
This well-maintained unit offers approximately 1,300 sq ft with an open layout designed to be customized for retail or professional office uses. The space is presented as ready for flexible tenant configuration, with emphasis on visibility and accessibility.
Located at 136-46 41st Ave 1C in Queens, the property is described as convenient to major thoroughfares and public transportation, with a surrounding base of established businesses. WalkScore is listed at 96 and transitScore at 100, indicating strong pedestrian and transit accessibility.
Common charges are stated at $417 per month, providing an identifiable monthly carrying cost for prospective owner-users or investors.
Located at 136-46 41st Ave 1C in Queens, the property is described as convenient to major thoroughfares and public transportation, with a surrounding base of established businesses. WalkScore is listed at 96 and transitScore at 100, indicating strong pedestrian and transit accessibility.
Common charges are stated at $417 per month, providing an identifiable monthly carrying cost for prospective owner-users or investors.
Key Highlights
- Approximately 1,300 SF commercial unit built in 2008
- Open layout suited for retail, office, or professional use
- Common charges are $417/month
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
$42,801
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
3.06%
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%
$856,020
$856.0K
Cap Rate 7%
$611,443
$611.4K
Cap Rate 9%
$475,567
$475.6K
Market Conditions
NOI Build-Up for 1,300 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
$65.5K $50.40/SF
− Vacancy
−$8.5K −$6.50/SF
EGI
$57.1K $43.90/SF
− OpEx
−$14.3K −$10.97/SF
NOI
$42.8K $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%
$856,020
Cap Rate 7%
$611,443
Cap Rate 9%
$475,567
Alternative Uses
Best Use
Office B
$611.4K
$535.0K – $713.4K
NOI $42,801 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$331.5K
$290.1K – $386.8K
NOI $23,205 @ 7.0% cap · market cap 1.66%
Theoretical Best
Office A
$958.4K
$838.6K – $1.12M
NOI $67,086 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
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?
Retail space - Well-maintained unit with an open layout suited for retail or professional office use, with $417/month common charges.
Where is this retail space located?
The property is located at 136-46 41st Ave 1C Queens, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Approximately 1,300 SF commercial unit built in 2008; Open layout suited for retail, office, or professional use; Common charges are $417/month
