Mixed-Use Elevator
For Sale
$6,380,000
134-40 Blossom Avenue, Flushing, NY 11355
Modern property combines street-level retail with residential units and a separately entered basement.
Property Size9,798 SF
Days on Market172
Property Features for 134-40 Blossom Avenue
General Information
Standard status
Active
Size
9,798 SF
Elevators
Yes
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Floor
Ground
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$42,251
Building Details
Building Size
9,798 SF
Year Built
2023
Buildings
1
Listing Agency:
B Square Realty
Listed By:
Li Li
(646) 889-9988
Source:
Leadingedgeli
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 31 at 12:38PM
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.
Built in 2023, this mixed-use property combines a ground-floor retail space with 8 residential units above. An elevator serves the building, while the basement has its own separate entrance. The residential units feature contemporary interiors, updated kitchens and bathrooms, modern cabinetry, and functional layouts.
Water, electricity, and gas are separately metered for each residential unit, with tenants responsible for those utilities. The retail component has direct street frontage and visibility, creating a configuration that joins commercial and residential occupancy within one building. The property is near Main Street, the Botanical Garden, and established neighborhood amenities in Flushing.
Water, electricity, and gas are separately metered for each residential unit, with tenants responsible for those utilities. The retail component has direct street frontage and visibility, creating a configuration that joins commercial and residential occupancy within one building. The property is near Main Street, the Botanical Garden, and established neighborhood amenities in Flushing.
Key Highlights
- Built in 2023 with elevator service
- Ground‑floor retail space with direct street frontage
- 8 residential units above the retail space
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
Yes
Paved road access
Yes
Utilities to site
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 - Modern property combines street-level retail with residential units and a separately entered basement.
Where is this mixed-use property located?
The property is located at 134-40 Blossom Avenue 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: Built in 2023 with elevator service; Ground‑floor retail space with direct street frontage; 8 residential units above the retail space
