New Mixed-Use Condo
For Sale
$7,490,000
13225 41st Ave, Queens, NY 11355
Brand-new elevator property combines community facility space with condominium residences.
Property Size10,057 SF
Price / SF$749
Days on Market90
Property Features for 13225 41st Ave
General Information
Standard status
Active
Size
10,057 SF
Elevators
Yes
Property subtype
Commercial
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Office Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$64,688
Amenities
private balconies
stainless steel appliances
hardwood flooring
modern lobby
Building Details
Building Size
10,057 SF
Year Built
2025
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
E REALTY INTERNATIONAL CORP.
(917) 969-8898
Listed By:
Rong Dong · License #10401237304
(917) 969-8898
Source:
Elliman
Added: Jun 4
Changed: Aug 30
Last Checked: Sep 1 at 7:03PM
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.
Completed in 2025, this approximately 10,000-square-foot mixed-use condominium building includes two Community Facility units and eight one-bedroom condominium residences. Select residences feature private balconies, while north and south exposures support abundant natural light. Interior specifications include stainless steel appliances, hardwood flooring, and contemporary finishes, complemented by a modern lobby with elevator access.
The property is positioned at 13225 41st Ave in Downtown Flushing, with Main Street, the 7 Train, LIRR, supermarkets, banks, restaurants, a library, and major commercial corridors nearby. The site carries a Walk Score of 96, a Transit Score of 100, and a Bike Score of 64. The Community Facility units are identified for medical, office, educational, or clubhouse use.
The property is positioned at 13225 41st Ave in Downtown Flushing, with Main Street, the 7 Train, LIRR, supermarkets, banks, restaurants, a library, and major commercial corridors nearby. The site carries a Walk Score of 96, a Transit Score of 100, and a Bike Score of 64. The Community Facility units are identified for medical, office, educational, or clubhouse use.
Key Highlights
- Approximately 10,000 SF mixed‑use condominium building completed in 2025
- 2 Community Facility units and 8 one‑bedroom condominium residences
- Select units include private balconies with north and south exposures
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
$244,444
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
3.26%
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%
$4,888,880
$4.9M
Cap Rate 7%
$3,492,057
$3.5M
Cap Rate 9%
$2,716,044
$2.7M
Market Conditions
NOI Build-Up for 10,000 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
$462.0K $46.20/SF
− Vacancy
−$17.6K −$1.76/SF
EGI
$444.4K $44.44/SF
− OpEx
−$200.0K −$20.00/SF
NOI
$244.4K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$4,888,880
Cap Rate 7%
$3,492,057
Cap Rate 9%
$2,716,044
Alternative Uses
Best Use
Apartment 5plus
$3.49M
$3.06M – $4.07M
NOI $244,444 @ 7.0% cap · market cap 3.26%
Second Best
Mixed Use
$1.84M
$1.61M – $2.15M
NOI $128,700 @ 7.0% cap · market cap 1.72%
Theoretical Best
Office A
$7.37M
$6.45M – $8.60M
NOI $516,048 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,601
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brand-new elevator property combines community facility space with condominium residences.
Where is this mixed-use property located?
The property is located at 13225 41st Ave Queens, NY.
What is the asking price?
The asking price for this property is $7,490,000.
What are key features of this property?
This property features: Approximately 10,000 SF mixed‑use condominium building completed in 2025; 2 Community Facility units and 8 one‑bedroom condominium residences; Select units include private balconies with north and south exposures
