Mixed-Use Retail and Residential
For Sale
$2,998,000
136-79 41st Avenue, Flushing, NY 11355
Well-maintained mixed-use building with a first-floor storefront and studio storage space, plus three-bedroom units on floors two and three.
Property Size3,770 SF
Price / SF$795.23
Days on Market48
Property Features for 136-79 41st Avenue
General Information
Standard status
Active
Size
3,770 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$41,362
Building Details
Year Built
1984
Stories
3
Listing Agency:
Jamie Realty Group
(516) 992-2888
Listed By:
Xiao Zheng (zheng.jamie@gmail.com)
Source:
Iaquintarealestate
Added: Jul 20
Changed: Aug 8
Last Checked: Sep 4 at 7:10AM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
This well-maintained mixed-use property offers a first-floor storefront with a studio unit located at the back of the first floor, currently used as a storage room. The building also includes fully finished basement space. Floors two and three each feature three bedrooms, two full bathrooms, a living/dining room, and a kitchen.
The property is described as conveniently located in the heart of Flushing, close to a diverse mix of shops, restaurants, parks, and schools. Public transit access is noted with multiple bus lines nearby, including Q12, Q20, Q25, Q26, Q27, Q44SBS, Q65, N20G, and N20X, as well as proximity to the Flushing Main St LIRR station and the Flushing-Main St 7 train station.
As configured, the building provides retail frontage on the first floor alongside residential units above, supporting a combined retail and income approach.
The property is described as conveniently located in the heart of Flushing, close to a diverse mix of shops, restaurants, parks, and schools. Public transit access is noted with multiple bus lines nearby, including Q12, Q20, Q25, Q26, Q27, Q44SBS, Q65, N20G, and N20X, as well as proximity to the Flushing Main St LIRR station and the Flushing-Main St 7 train station.
As configured, the building provides retail frontage on the first floor alongside residential units above, supporting a combined retail and income approach.
Key Highlights
- Mixed‑use building built in 1984 in the heart of Flushing
- First floor features a storefront plus a large studio unit in the back used as storage
- Second and third floors each include 3 bedrooms, 2 full bathrooms, living/dining room, and kitchen
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
$92,155
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
3.07%
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%
$1,843,100
$1.8M
Cap Rate 7%
$1,316,500
$1.3M
Cap Rate 9%
$1,023,944
$1.0M
Market Conditions
NOI Build-Up for 3,770 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
$174.2K $46.20/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$167.6K $44.44/SF
− OpEx
−$75.4K −$20.00/SF
NOI
$92.2K $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%
$1,843,100
Cap Rate 7%
$1,316,500
Cap Rate 9%
$1,023,944
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,155 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$961.4K
$841.2K – $1.12M
NOI $67,295 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,550 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained mixed-use building with a first-floor storefront and studio storage space, plus three-bedroom units on floors two and three.
Where is this mixed-use property located?
The property is located at 136-79 41st Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Mixed‑use building built in 1984 in the heart of Flushing; First floor features a storefront plus a large studio unit in the back used as storage; Second and third floors each include 3 bedrooms, 2 full bathrooms, living/dining room, and kitchen
