Open-Layout Retail
For Sale
$820,000
136-46 41st Avenue #1E, Flushing, NY 11355
Flexible interior supports retail, office, or professional business use.
Property Size800 SF
Price / SF$1,025
Days on Market118
Property Features for 136-46 41st Avenue #1E
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Zoning
R7-1
Additional Details
HOA Fee
$247
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,499
Building Details
Building Size
800 SF
Year Built
2008
Listing Agency:
Prime Realty
(917) 254-0248
Listed By:
Shirley Y. Chen
(917) 254-0248
Source:
Cornerstonemyhome
Added: May 5
Changed: Aug 29
Last Checked: Aug 25 at 9:13AM
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 Prime Realty
Investment Insights
Based on property information with market context.
This retail space at 136-46 41st Avenue #1E offers approximately 800 square feet within an open interior that can be arranged for retail, office, or professional business operations. The unit was built in 2008 and is identified as R7-1 zoning.
The property is positioned near major thoroughfares, public transportation, and established businesses in Flushing, NY. Its location provides access to surrounding commercial activity and transit connections, while the adaptable layout gives occupants flexibility in organizing the space for their intended use.
The property is positioned near major thoroughfares, public transportation, and established businesses in Flushing, NY. Its location provides access to surrounding commercial activity and transit connections, while the adaptable layout gives occupants flexibility in organizing the space for their intended use.
Key Highlights
- Approximately 800 sq ft of retail space
- Open layout adaptable to retail, office, or professional use
- R7‑1 zoning
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
$26,339
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
3.21%
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%
$526,780
$526.8K
Cap Rate 7%
$376,271
$376.3K
Cap Rate 9%
$292,656
$292.7K
Market Conditions
NOI Build-Up for 800 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
$40.3K $50.40/SF
− Vacancy
−$5.2K −$6.50/SF
EGI
$35.1K $43.90/SF
− OpEx
−$8.8K −$10.97/SF
NOI
$26.3K $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%
$526,780
Cap Rate 7%
$376,271
Cap Rate 9%
$292,656
Alternative Uses
Best Use
Office B
$376.3K
$329.2K – $439.0K
NOI $26,339 @ 7.0% cap · market cap 3.21%
Second Best
Retail
$204.0K
$178.5K – $238.0K
NOI $14,280 @ 7.0% cap · market cap 1.74%
Theoretical Best
Office A
$589.8K
$516.1K – $688.1K
NOI $41,284 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,752
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?
Retail space - Flexible interior supports retail, office, or professional business use.
Where is this retail space located?
The property is located at 136-46 41st Avenue #1E Flushing, NY.
What is the asking price?
The asking price for this property is $820,000.
What are key features of this property?
This property features: Approximately 800 sq ft of retail space; Open layout adaptable to retail, office, or professional use; R7‑1 zoning
