Building Details

Building Size 1,300 SF

Year Built 2008

Listing Agency: Prime Realty

Listed By: Fei Chen Show Phone

Source: Elliman

Added: May 10 Changed: Oct 11 Last Checked: Oct 24 at 4:41PM

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Investment Insights

Based on property information with market context.

This well-maintained unit offers approximately 1,300 sq ft with an open layout designed to be customized for retail or professional office uses. The space is presented as ready for flexible tenant configuration, with emphasis on visibility and accessibility.

Located at 136-46 41st Ave 1C in Queens, the property is described as convenient to major thoroughfares and public transportation, with a surrounding base of established businesses. WalkScore is listed at 96 and transitScore at 100, indicating strong pedestrian and transit accessibility.

Common charges are stated at $417 per month, providing an identifiable monthly carrying cost for prospective owner-users or investors.

Key Highlights

• Approximately 1,300 SF commercial unit built in 2008
• Open layout suited for retail, office, or professional use
• Common charges are $417/month

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,801

Cap Rate

3.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$856,020 $856.0K

Cap Rate 7%

$611,443 $611.4K

Cap Rate 9%

$475,567 $475.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,300 SF

Gross rent

$65.5K $50.40/SF

− Vacancy

−$8.5K −$6.50/SF

EGI

$57.1K $43.90/SF

− OpEx

−$14.3K −$10.97/SF

NOI

$42.8K $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 Rate 5%

$856,020

Cap Rate 7%

$611,443

Cap Rate 9%

$475,567

Alternative Uses

Best Use

Office B

$611.4K

$535.0K – $713.4K (±1% cap)

NOI $42,801 @ 7.0% cap · market cap 3.06%

Second Best

Retail

$331.5K

$290.1K – $386.8K (±1% cap)

NOI $23,205 @ 7.0% cap · market cap 1.66%

Theoretical Best

Office A

$958.4K

$838.6K – $1.12M (±1% cap)

NOI $67,086 @ 7.0% cap · market cap 4.79%

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

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Law Firm Hair Salon Nail Salon Nursing Home Spa & Massage Center Acupuncture

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

Location Intelligence

Trade Area within ½ mile

5,153

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Well-maintained unit with an open layout suited for retail or professional office use, with $417/month common charges.

Where is this retail space located?

The property is located at 136-46 41st Ave 1C Queens, NY.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Approximately 1,300 SF commercial unit built in 2008; Open layout suited for retail, office, or professional use; Common charges are $417/month