Mixed-Use Elevator Building with
For Sale
$6,380,000
13324 BLOSSOM AVE, Flushing, NY 11355
New mixed-use building with street-level retail and eight residential units served by an elevator.
Property Size9,798 SF
Price / SF$651.15
Days on Market181
Property Features for 13324 BLOSSOM AVE
General Information
Standard status
Active
Size
9,798 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$42,251
Amenities
Electric
3
Building Details
Year Built
2023
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Source:
Xome
Added: Mar 8
Changed: Sep 4
Last Checked: Sep 5 at 5:52AM
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 B Square Realty
Investment Insights
Based on property information with market context.
Mixed-use elevator building at 13324 Blossom Ave, Flushing, NY 11355, featuring ground-floor retail with direct street frontage and a basement with a separate entrance. The property includes eight residential units above the retail, all within a newly built structure. Residential units are separately metered for water, electricity, and gas, with utilities paid by the tenants.
The building is described as being conveniently located near Main Street and the Botanical Garden, with established neighborhood amenities nearby. Its configuration combines street-level commercial space with multiple upper-floor residential units in a modern, professionally presented building.
The building is described as being conveniently located near Main Street and the Botanical Garden, with established neighborhood amenities nearby. Its configuration combines street-level commercial space with multiple upper-floor residential units in a modern, professionally presented building.
Key Highlights
- 2023‑built mixed‑use elevator building with ground‑floor retail and 8 residential units above
- Basement includes a separate entrance
- 8 residential units are separately metered for water, electricity, and gas with tenant‑paid utilities
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
$239,506
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
3.75%
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%
$4,790,120
$4.8M
Cap Rate 7%
$3,421,514
$3.4M
Cap Rate 9%
$2,661,178
$2.7M
Market Conditions
NOI Build-Up for 9,798 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
$452.7K $46.20/SF
− Vacancy
−$17.2K −$1.76/SF
EGI
$435.5K $44.44/SF
− OpEx
−$196.0K −$20.00/SF
NOI
$239.5K $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%
$4,790,120
Cap Rate 7%
$3,421,514
Cap Rate 9%
$2,661,178
Alternative Uses
Best Use
Apartment 5plus
$3.42M
$2.99M – $3.99M
NOI $239,506 @ 7.0% cap · market cap 3.75%
Second Best
Retail
$2.50M
$2.19M – $2.91M
NOI $174,894 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$7.22M
$6.32M – $8.43M
NOI $505,624 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
8,497
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 - New mixed-use building with street-level retail and eight residential units served by an elevator.
Where is this mixed-use property located?
The property is located at 13324 BLOSSOM AVE Flushing, NY.
What is the asking price?
The asking price for this property is $6,380,000.
What are key features of this property?
This property features: 2023‑built mixed‑use elevator building with ground‑floor retail and 8 residential units above; Basement includes a separate entrance; 8 residential units are separately metered for water, electricity, and gas with tenant‑paid utilities
