Mixed-Use Commercial
For Sale
$2,720,000
134-11 Franklin Avenue #CF2, Flushing, NY 11355
Flexible commercial space approved for an ICAP tax abatement and suited to retail, medical, or office operations.
Property Size2,990 SF
Days on Market27
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
(718) 886-8110
Listed By:
Lin Guo · License #10401304356
(917) 618-8615
Source:
Callexitfirst
Added: Aug 24
Changed: Sep 18
Last Checked: Sep 18 at 3:26PM
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 at 134-11 Franklin Avenue #CF2 combines space for retail, medical services, office functions, and clinics. The units are described as having adaptable layouts that can support different business formats and owner-use plans.
The property is in downtown Flushing and is surrounded by established supporting facilities and reported strong foot traffic. Commercial units have approval for a 15-year ICAP tax abatement, adding a defined tax-program feature to the property’s operating profile.
The property is in downtown Flushing and is surrounded by established supporting facilities and reported strong foot traffic. Commercial units have approval for a 15-year ICAP tax abatement, adding a defined tax-program feature to the property’s operating profile.
Key Highlights
- Commercial units approved for a 15‑year ICAP tax abatement
- Mixed‑use configuration supports retail, medical, office, and clinic functions
- Flexible layouts accommodate varied business formats
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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space approved for an ICAP tax abatement and suited to retail, medical, or office operations.
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: Commercial units approved for a 15‑year ICAP tax abatement; Mixed‑use configuration supports retail, medical, office, and clinic functions; Flexible layouts accommodate varied business formats
