Royal Plaza Mixed-Use
For Sale
Contact for pricing
132-35 41st Road, Flushing, NY 11355
Built in 2011 within Downtown Flushing’s commercial and residential core, with access to retail, offices, restaurants, and transit.
Property Size3,743 SF
Price / SF$876.04
Days on Market80
Property Features for 132-35 41st Road
General Information
Standard status
Active
Size
3,743 SF
Property subtype
Multifamily, Office, Special Purpose
Zoning
R-6
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$182,520
Additional Details
Public Transit
Yes
Building Details
Year Built
2011
Buildings
1
Units
2
Tenancy
Single
Listing Agency:
Full Score Realty Inc
368
Listed By:
Patrick Chen · License #NY 10311210619
Source:
Crexi
Added: Jun 12
Changed: Aug 29
Last Checked: Aug 29 at 2:08PM
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 Full Score Realty Inc
Investment Insights
Based on property information with market context.
Royal Plaza Condominium is a mixed-use property at 132-35 41st Road in Flushing, Queens. The building was completed in 2011 and carries R-6 zoning. Its setting supports a blend of commercial and residential activity, with nearby retail, restaurants, medical offices, professional services, residential developments, and international businesses.
The property is near Main Street and the Flushing-Main Street transportation hub. Transit options include the 7 subway line, Long Island Railroad, and multiple MTA bus routes, with connections toward Manhattan, Long Island, and the area’s major airports. Nearby destinations include New World Mall, SkyView Center, Queens Crossing, Citi Field, and the USTA Billie Jean King National Tennis Center.
The property is near Main Street and the Flushing-Main Street transportation hub. Transit options include the 7 subway line, Long Island Railroad, and multiple MTA bus routes, with connections toward Manhattan, Long Island, and the area’s major airports. Nearby destinations include New World Mall, SkyView Center, Queens Crossing, Citi Field, and the USTA Billie Jean King National Tennis Center.
Key Highlights
- 132‑35 41st Road in Downtown Flushing, Queens
- Mixed‑use property with R‑6 zoning
- Completed in 2011
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
$123,234
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
3.76%
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%
$2,464,680
$2.5M
Cap Rate 7%
$1,760,486
$1.8M
Cap Rate 9%
$1,369,267
$1.4M
Market Conditions
NOI Build-Up for 3,743 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
$188.6K $50.40/SF
− Vacancy
−$24.3K −$6.50/SF
EGI
$164.3K $43.90/SF
− OpEx
−$41.1K −$10.97/SF
NOI
$123.2K $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%
$2,464,680
Cap Rate 7%
$1,760,486
Cap Rate 9%
$1,369,267
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.05M
NOI $123,234 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,495 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,157 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,722
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Built in 2011 within Downtown Flushing’s commercial and residential core, with access to retail, offices, restaurants, and transit.
Where is this mixed-use property located?
The property is located at 132-35 41st Road Flushing, NY.
What is the asking price?
The asking price for this property is $3,279,000.
What are key features of this property?
This property features: 132‑35 41st Road in Downtown Flushing, Queens; Mixed‑use property with R‑6 zoning; Completed in 2011
