Mixed-Use Building with Mezzanine
14228 38th Ave Flushing, NY 11354
For Sale
Contact for pricing
11-story building with residential units, ground-floor retail with mezzanine, and in-unit washer/dryer amenities.
Property Size9,809 SF
Price / SF$509.74
Days on Market161
Property Features for 14228 38th Ave
General Information
Standard status
Active
Size
9,809 SF
Property subtype
RETAIL
Listing Agency:
Kassin Sabbagh Realty (KSR)
(646) 869-5501
Listed By:
Abraham Kassin
(646) 869-5501
Source:
Moodyscre
Added: Feb 19
Changed: Jul 29
Last Checked: Jul 29 at 3:28PM
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 Kassin Sabbagh Realty (KSR)
Investment Insights
Based on property information with market context.
This 11-story mixed-use building includes approximately 53,225 square feet and is configured with 23 residential units and four commercial units. The residential units feature wood flooring, granite countertops, stainless steel appliances, and in-unit washer/dryers. The ground floor retail space has 22-foot ceilings and includes a mezzanine, supporting a range of commercial concepts. The property also provides 47 parking spaces.
Located in Downtown Flushing, the building is surrounded by dining, shopping, and entertainment options, with nearby businesses including Starbucks, Equinox, SoulCycle, and Chipotle.
Overall, the mix of in-unit residential amenities and a higher-ceiling ground-floor retail environment is designed to support both day-to-day tenancy and active street-level commerce.
Located in Downtown Flushing, the building is surrounded by dining, shopping, and entertainment options, with nearby businesses including Starbucks, Equinox, SoulCycle, and Chipotle.
Overall, the mix of in-unit residential amenities and a higher-ceiling ground-floor retail environment is designed to support both day-to-day tenancy and active street-level commerce.
Key Highlights
- Approximately 53,225 SF, 11‑story mixed‑use building with 23 residential units and four commercial units
- Ground‑floor retail space with 22‑foot ceilings and a mezzanine
- Residential units with wood flooring, granite countertops, stainless steel appliances, and in‑unit washer/dryers
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $453.2k | $46.20 |
| − Vacancy | −$17.2k | −$1.76 |
| EGI | $436.0k | $44.44 |
| − OpEx | −$196.2k | −$20.00 |
| NOI | $239.8k | $24.44 |
9,809 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.43M
$3.00M – $4.00M
NOI $239,775 @ 7.0% cap · market cap 4.80%
Second Best
Retail
$2.50M
$2.19M – $2.92M
NOI $175,091 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$7.23M
$6.33M – $8.44M
NOI $506,191 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - 11-story building with residential units, ground-floor retail with mezzanine, and in-unit washer/dryer amenities.
Where is this mixed-use property located?
The property is located at 14228 38th Ave Flushing, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Approximately 53,225 SF, 11‑story mixed‑use building with 23 residential units and four commercial units; Ground‑floor retail space with 22‑foot ceilings and a mezzanine; Residential units with wood flooring, granite countertops, stainless steel appliances, and in‑unit washer/dryers
