Building Details

Building Size 9,798 SF

Year Built 2023

Buildings 1

Stories 5

Tenancy Multi

Listing Agency: B Square Realty b***@gmail.com Show Phone

Listed By: Li Li Show Phone

Source: Croninreale

Added: Mar 13 Changed: Oct 23 Last Checked: Oct 23 at 3:54PM

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Investment Insights

Based on property information with market context.

Built in 2023, this mixed-use property combines eight residential units with a ground-floor retail space. Elevator service connects the building, and the basement has its own entrance. The apartments have updated kitchens and bathrooms, contemporary cabinetry, and functional interior layouts.

Water, electricity, and gas are separately metered for each residence, with tenants responsible for those utilities. The property is zoned R6 and is located at 134-40 Blossom Avenue in Flushing, near Main Street and the Botanical Garden.

Key Highlights

• Eight residential units above ground‑floor retail
• Elevator building completed in 2023
• Basement has a separate entrance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$239,506

Cap Rate

3.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,790,120 $4.8M

Cap Rate 7%

$3,421,514 $3.4M

Cap Rate 9%

$2,661,178 $2.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,798 SF

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 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 (±1% cap)

NOI $239,506 @ 7.0% cap · market cap 3.75%

Second Best

Retail

$2.50M

$2.19M – $2.91M (±1% cap)

NOI $174,894 @ 7.0% cap · market cap 2.74%

Theoretical Best

Office A

$7.22M

$6.32M – $8.43M (±1% cap)

NOI $505,624 @ 7.0% cap · market cap 7.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Nursing Home Pet Grooming Service Veterinary Clinic Restaurant Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

Multi-tenant

Tenancy

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Street-level retail, a separately entered basement, and eight residences share one elevator-served property.

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: Eight residential units above ground‑floor retail; Elevator building completed in 2023; Basement has a separate entrance