Full-Floor Retail Suite with
For Sale
$4,360,000
146-17 Northern Blvd 2nd Fl, Queens, NY 11354
Entire second-floor retail space with elevator access, private entrance, and fully installed HVAC.
Property Size8,000 SF
Price / SF$545
Days on Market52
Property Features for 146-17 Northern Blvd 2nd Fl
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,585
Building Details
Building Size
8,000 SF
Year Built
2021
Listed By:
Li Li
(646) 889-9988
Source:
Elliman
Added: Jul 16
Changed: Aug 21
Last Checked: Sep 5 at 8:07AM
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 Li Li
Investment Insights
Based on property information with market context.
New retail space available on the full second floor of an elevator building at 146-17 Northern Boulevard. The suite includes a dedicated private entrance, elevator access, and a functional layout with multiple private rooms. HVAC heating and cooling systems are fully installed, supporting a move-in-ready foundation for day-to-day operations.
The property is positioned near the intersection of Northern Boulevard and 147th Street in Flushing, Queens. It is served by multiple bus lines (Q13, Q28, QM3) and is close to the Flushing LIRR station for convenient access by both staff and customers.
As a full-floor configuration, the space is designed to accommodate a variety of appointment-based retail and service uses, with flexibility afforded by the multiple private rooms and overall layout.
The property is positioned near the intersection of Northern Boulevard and 147th Street in Flushing, Queens. It is served by multiple bus lines (Q13, Q28, QM3) and is close to the Flushing LIRR station for convenient access by both staff and customers.
As a full-floor configuration, the space is designed to accommodate a variety of appointment-based retail and service uses, with flexibility afforded by the multiple private rooms and overall layout.
Key Highlights
- 2021‑built elevator building with full 2nd‑floor retail space for lease
- 8,000 SF entire second floor with dedicated private entrance and elevator access
- Fully installed HVAC heating and cooling systems—move‑in ready foundation
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
$142,800
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
3.28%
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%
$2,856,000
$2.9M
Cap Rate 7%
$2,040,000
$2.0M
Cap Rate 9%
$1,586,667
$1.6M
Market Conditions
NOI Build-Up for 8,000 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
$240.0K $30.00/SF
− Vacancy
−$36.0K −$4.50/SF
EGI
$204.0K $25.50/SF
− OpEx
−$61.2K −$7.65/SF
NOI
$142.8K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,856,000
Cap Rate 7%
$2,040,000
Cap Rate 9%
$1,586,667
Alternative Uses
Best Use
Retail
$2.04M
$1.79M – $2.38M
NOI $142,800 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.90M
$5.16M – $6.88M
NOI $412,838 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,666
Businesses Nearby
127k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Hotels & Casinos 23%
Dining 21%
Groceries 16%
Key Food Supermarkets
Groceries
20,650 visits/mo
0.5 miles
Bank of America
Shops & Services
12,249 visits/mo
0.5 miles
BP
Shops & Services
11,939 visits/mo
0.3 miles
Starbucks
Dining
11,749 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,306 visits/mo
0.5 miles
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Entire second-floor retail space with elevator access, private entrance, and fully installed HVAC.
Where is this retail space located?
The property is located at 146-17 Northern Blvd 2nd Fl Queens, NY.
What is the asking price?
The asking price for this property is $4,360,000.
What are key features of this property?
This property features: 2021‑built elevator building with full 2nd‑floor retail space for lease; 8,000 SF entire second floor with dedicated private entrance and elevator access; Fully installed HVAC heating and cooling systems—move‑in ready foundation
