Mixed-Use Building with
For Sale
$2,998,000
136-79 41st Avenue, New York, NY 11355
Well-maintained mixed-use property with a storefront and finished basement, plus residential units on the second and third floors.
Property Size3,770 SF
Price / SF$795.23
Days on Market150
Property Features for 136-79 41st Avenue
General Information
Standard status
Active
Size
3,770 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$41,363
Amenities
Window/Wall Unit
3
Building Details
Year Built
1984
Listing Agency:
Jamie Realty Group
(718) 886-0668
Listed By:
Xiao Zheng · License #10491212408
(718) 309-2982
Source:
Xome
Added: Apr 10
Changed: Sep 1
Last Checked: Sep 6 at 4:07AM
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 building offers a storefront on the first floor along with a large studio unit located in the back of the first floor that is currently used as a storage room. The property also includes a full finished basement.
The second and third floors each feature 3 bedrooms, 2 full bathrooms, a living/dining room, and a kitchen.
Convenient transportation access is available nearby, with multiple Q and N bus routes listed in the remarks, along with proximity to the Flushing Main St LIRR station and the Flushing-Main St 7 train station.
The second and third floors each feature 3 bedrooms, 2 full bathrooms, a living/dining room, and a kitchen.
Convenient transportation access is available nearby, with multiple Q and N bus routes listed in the remarks, along with proximity to the Flushing Main St LIRR station and the Flushing-Main St 7 train station.
Key Highlights
- Well‑maintained mixed‑use building in the heart of Flushing with a first‑floor storefront and residential units on the 2nd and 3rd floors
- Storefront on the first floor with a large studio unit in the back currently used as storage
- Second and third floors each offer 3 bedrooms, 2 full bathrooms, a living/dining room, and a 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
$120,169
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
4.01%
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%
$2,403,380
$2.4M
Cap Rate 7%
$1,716,700
$1.7M
Cap Rate 9%
$1,335,211
$1.3M
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
$226.2K $60.00/SF
− Vacancy
−$33.9K −$9.00/SF
EGI
$192.3K $51.00/SF
− OpEx
−$72.1K −$19.13/SF
NOI
$120.2K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,403,380
Cap Rate 7%
$1,716,700
Cap Rate 9%
$1,335,211
Alternative Uses
Best Use
Retail
$7.58M
$6.63M – $8.84M
NOI $530,531 @ 7.0% cap · market cap 17.70%
Second Best
Mixed Use
$1.72M
$1.50M – $2.00M
NOI $120,169 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$9.38M
$8.21M – $10.95M
NOI $656,885 @ 7.0% cap · market cap 21.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
10,890
Businesses Nearby
193k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Dining 27%
Groceries 22%
Hotels & Casinos 15%
H Mart
Groceries
42,072 visits/mo
0.3 miles
Shell
Shops & Services
21,073 visits/mo
0.5 miles
Chase Bank
Shops & Services
19,494 visits/mo
0.3 miles
Mobil
Shops & Services
15,325 visits/mo
0.4 miles
Best Western Queens Court Hotel
Hotels & Casinos
14,763 visits/mo
0.3 miles
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 Retail 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 property with a storefront and finished basement, plus residential units on the second and third floors.
Where is this mixed-use property located?
The property is located at 136-79 41st Avenue New York, 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: Well‑maintained mixed‑use building in the heart of Flushing with a first‑floor storefront and residential units on the 2nd and 3rd floors; Storefront on the first floor with a large studio unit in the back currently used as storage; Second and third floors each offer 3 bedrooms, 2 full bathrooms, a living/dining room, and a kitchen
