Mixed-Use Commercial
New
For Sale
$730,000
134-11 Franklin Avenue Unit CF6, Flushing, NY 11355
Commercial unit approved for ICAP tax abatement with potential for retail, medical, office, and clinic operations.
Property Size787 SF
Price / SF$927.57
Days on Market5
Property Features for 134-11 Franklin Avenue Unit CF6
General Information
Standard status
Active
Size
787 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$2,508
Building Details
Building Size
787 SF
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Lin Guo · License #10401304356
Source:
Cbwarburg
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 26 at 7:14AM
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.
Unit CF6 at 134-11 Franklin Avenue is classified as a mixed-use commercial property with potential applications spanning retail, medical services, office functions, and clinic operations. The property is approved for an ICAP 15-year tax abatement, a relevant ownership consideration for an operator or commercial user.
The unit is located in downtown Flushing, NY, within an established commercial setting described as having strong foot traffic and mature supporting facilities. Its positioning supports multiple business formats within the listed retail, medical, and office categories.
The unit is located in downtown Flushing, NY, within an established commercial setting described as having strong foot traffic and mature supporting facilities. Its positioning supports multiple business formats within the listed retail, medical, and office categories.
Key Highlights
- Unit CF6 at 134‑11 Franklin Avenue
- Approved for ICAP 15‑Year Tax Abatement
- Located in downtown Flushing, NY
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
$25,911
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
3.55%
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%
$518,220
$518.2K
Cap Rate 7%
$370,157
$370.2K
Cap Rate 9%
$287,900
$287.9K
Market Conditions
NOI Build-Up for 787 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
$39.7K $50.40/SF
− Vacancy
−$5.1K −$6.50/SF
EGI
$34.5K $43.90/SF
− OpEx
−$8.6K −$10.97/SF
NOI
$25.9K $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%
$518,220
Cap Rate 7%
$370,157
Cap Rate 9%
$287,900
Alternative Uses
Best Use
Office B
$370.2K
$323.9K – $431.9K
NOI $25,911 @ 7.0% cap · market cap 3.55%
Second Best
Healthcare Medical
$259.2K
$226.8K – $302.5K
NOI $18,147 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$580.2K
$507.7K – $676.9K
NOI $40,613 @ 7.0% cap · market cap 5.56%
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 - Commercial unit approved for ICAP tax abatement with potential for retail, medical, office, and clinic operations.
Where is this mixed-use property located?
The property is located at 134-11 Franklin Avenue Unit CF6 Flushing, NY.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Unit CF6 at 134‑11 Franklin Avenue; Approved for ICAP 15‑Year Tax Abatement; Located in downtown Flushing, NY
