Mixed-Use Commercial
For Sale
$2,720,000
134-11 Franklin Avenue #CF2, Flushing, NY 11355
Approved for an ICAP 15-year tax abatement, with space supporting retail, office, medical, and clinic uses.
Property Size2,990 SF
Days on Market185
Property Features for 134-11 Franklin Avenue #CF2
General Information
Standard status
Active
Size
2,990 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,471
Building Details
Building Size
2,990 SF
Listing Agency:
E Realty International Corp
(917) 618-8615
Listed By:
Lin Guo · License #10401304356
(917) 618-8615
Source:
Professionalchoicerealty
Added: Feb 27
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 commercial property offers units that can accommodate retail, office, medical service, and clinic operations. The source information identifies flexible business formats and versatile layouts, supporting multiple commercial configurations within the property.
The property is located at 134-11 Franklin Avenue #CF2 in downtown Flushing, NY 11355. It is described as being surrounded by strong foot traffic and established supporting facilities. The commercial units are approved for an ICAP 15-year tax abatement.
The property is located at 134-11 Franklin Avenue #CF2 in downtown Flushing, NY 11355. It is described as being surrounded by strong foot traffic and established supporting facilities. The commercial units are approved for an ICAP 15-year tax abatement.
Key Highlights
- Approved for an ICAP 15‑year tax abatement
- Supports retail, office, medical service, and clinic uses
- Flexible business formats and versatile layouts
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
$98,442
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
3.62%
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%
$1,968,840
$2.0M
Cap Rate 7%
$1,406,314
$1.4M
Cap Rate 9%
$1,093,800
$1.1M
Market Conditions
NOI Build-Up for 2,990 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
$150.7K $50.40/SF
− Vacancy
−$19.4K −$6.50/SF
EGI
$131.3K $43.90/SF
− OpEx
−$32.8K −$10.97/SF
NOI
$98.4K $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%
$1,968,840
Cap Rate 7%
$1,406,314
Cap Rate 9%
$1,093,800
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,442 @ 7.0% cap · market cap 3.62%
Second Best
Healthcare Medical
$984.9K
$861.8K – $1.15M
NOI $68,943 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,298 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,966
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?
Mixed-use property - Approved for an ICAP 15-year tax abatement, with space supporting retail, office, medical, and clinic uses.
Where is this mixed-use property located?
The property is located at 134-11 Franklin Avenue #CF2 Flushing, NY.
What is the asking price?
The asking price for this property is $2,720,000.
What are key features of this property?
This property features: Approved for an ICAP 15‑year tax abatement; Supports retail, office, medical service, and clinic uses; Flexible business formats and versatile layouts
