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    Turnkey Retail Storefront with Kitchen Title is generated by Realmo AI

    142-06 41st Avenue, Flushing, NY 11355

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    For Lease
    $26,500 SF/Yr $8,226,041/Mo (calc)

    COMMERCIAL - Flushing, NY

    Type:Retail
    Property size:
    3,725 SF
    Lot size:
    0.09 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for 142-06 41st Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    R7-1
    Rooms
    Basement
    Parking features
    On Street
    Basement
    Storage Space
    Appliances
    Electric Cooktop, Refrigerator
    Standard status
    Active
    APN
    05046-0004
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    38506

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1931
    Building materials
    Brick

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    Listing Contact
    Li Li

    Listing agent Li Li

    Listing office B Square Realty 13620 38th Ave Ste 3E, Flushing, NY

    Listing date Jun 4, 2026

    MLS# 1008092

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 3,725 SF ground‑floor retail space with two storefront entrances and access flexibility
    • Full build‑out renovated March 2025 with approximately $1 million invested
    • Configured as a supermarket, with a fully finished kitchen and appliances including an electric cooktop and refrigerator
    • Includes approximately 800 SF basement storage plus updated flooring, ceilings, walls, and refrigeration systems
    • Utilities include public water and public sewer; central air cooling
    • Parking: on‑street; located one block from Main Street with access to 7 subway line, LIRR, and multiple bus routes

    Overview

    This fully renovated, move-in-ready ground-floor retail space is approximately 3,725 SF and includes about 800 SF of basement storage. The interior has been updated with new flooring, ceilings, walls, and refrigeration systems, and it is outfitted with a fully finished kitchen. The layout features two storefront entrances, supporting strong customer access and operational flexibility for day-to-day retail activity.

    Located in Downtown Flushing at 142-06 41st Avenue, the property is described as being about one block from Main Street, with strong street presence and high pedestrian visibility. The surrounding area includes major retail and daily-needs destinations such as Macy's, a nearby mall, supermarkets, restaurants, banks, and neighborhood services. Access to public transportation is supported by proximity to the 7 subway line, the LIRR, and multiple bus routes.

    Configured as a turnkey supermarket, the space is designed for immediate occupancy with minimal upfront construction. While it is currently arranged for grocery operations, the flexible retail layout is described as suitable for a range of commercial uses, including supermarket, restaurant, showroom, and service-oriented businesses, subject to verification and approval. Zoning is listed as R7-1 for due diligence with the appropriate authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • CB Direct Mart 247 — 44-04 Kissena Blvd, Queens, NY 11355
    • Subzi bazaar — 42-92 Main St, Queens, NY 11355
    • Good Fortune Supermarket — 42-76 Main St #2c, Queens, NY 11355
    • Food Plus Supermarket — 4424 Kissena Blvd, Queens, NY 11355
    • Gold City Supermarket — 46-31 Kissena Blvd, Queens, NY 11355

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.906102
    Latitude
    40.744287

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    FAQs

    What type of property is this?
    Grocery and convenience store - Fully renovated ground-floor retail with finished kitchen and dual storefront entrances for flexible storefront operations.
    Where is this grocery and convenience store located?
    The property is located at 142-06 41st Avenue Flushing, NY.
    What is the lease rate?
    The lease rate is $26,500.
    What are key features of this property?
    This property features: Approximately 3,725 SF ground‑floor retail space with two storefront entrances and access flexibility; Full build‑out renovated March 2025 with approximately $1 million invested; Configured as a supermarket, with a fully finished kitchen and appliances including an electric cooktop and refrigerator
    (646) 889-9988
    We can help!
    Listing Contact
    Li Li
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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