Flexible Mixed-Use Community
For Sale
$4,298,000
132-35 41 Road Unit 1A+1B+1C, Flushing, NY 11354
The property offers an adaptable interior and approximately 12 years remaining under its tax abatement.
Property Size4,538 SF
Price / SF$947.11
Days on Market25
Property Features for 132-35 41 Road Unit 1A+1B+1C
General Information
Standard status
Active
Size
4,538 SF
Property subtype
Mixed Use
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,067
Building Details
Building Size
4,538 SF
Listing Agency:
E Realty International Corp
(646) 688-8998
Listed By:
Hsin Yuan Yang · License #10311205376
Source:
Serhant
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 23 at 3:32AM
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.
This mixed-use property at 132-35 41 Road provides approximately 4,538 square feet with an open, adaptable interior configuration. The space may suit a qualified community service organization, nonprofit, medical, or professional community facility use, subject to applicable zoning and approvals.
The property is positioned near public transportation, shopping, dining, and other neighborhood amenities in Flushing. Approximately 12 years remain on the tax abatement, adding a defined tax benefit period for an eligible owner.
The property is positioned near public transportation, shopping, dining, and other neighborhood amenities in Flushing. Approximately 12 years remain on the tax abatement, adding a defined tax benefit period for an eligible owner.
Key Highlights
- Approximately 4,538 square feet of mixed‑use space
- Approximately 12 years remaining on the tax abatement
- Flexible interior layout for varied community facility applications
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
$149,408
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
3.48%
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%
$2,988,160
$3.0M
Cap Rate 7%
$2,134,400
$2.1M
Cap Rate 9%
$1,660,089
$1.7M
Market Conditions
NOI Build-Up for 4,538 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
$228.7K $50.40/SF
− Vacancy
−$29.5K −$6.50/SF
EGI
$199.2K $43.90/SF
− OpEx
−$49.8K −$10.97/SF
NOI
$149.4K $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%
$2,988,160
Cap Rate 7%
$2,134,400
Cap Rate 9%
$1,660,089
Alternative Uses
Best Use
Office B
$2.13M
$1.87M – $2.49M
NOI $149,408 @ 7.0% cap · market cap 3.48%
Second Best
Healthcare Medical
$1.49M
$1.31M – $1.74M
NOI $104,637 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$3.35M
$2.93M – $3.90M
NOI $234,183 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,722
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 - The property offers an adaptable interior and approximately 12 years remaining under its tax abatement.
Where is this mixed-use property located?
The property is located at 132-35 41 Road Unit 1A+1B+1C Flushing, NY.
What is the asking price?
The asking price for this property is $4,298,000.
What are key features of this property?
This property features: Approximately 4,538 square feet of mixed‑use space; Approximately 12 years remaining on the tax abatement; Flexible interior layout for varied community facility applications
