Full-Floor Retail
For Sale
$4,360,000
146-17 Northern Boulevard, Flushing, NY 11354
Commercial Sale, Flushing, NY
Property Size7,290 SF
Price / SF$598.08
Days on Market364
Property Features for 146-17 Northern Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
Google Maps
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7586
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
dedicated private entrance
HVAC heating and cooling systems
Building Details
Year built
2021
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Oct 7, 2025
Changed: Sep 17
Last Checked: Oct 5 at 7:06AM
MLS# 921734
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.
Investment Insights
Based on property information with market context.
The offering comprises the entire second floor of a retail condominium at 146-17 Northern Boulevard. The space contains approximately 8,000 gross SF and 7,290 net SF, with a private entrance, multiple enclosed rooms, and installed electric heating and central air conditioning. The property carries a Retail Certificate of Occupancy and is offered as one full-floor commercial space rather than as divisible units.
The property is positioned near Northern Boulevard and 147th Street in Flushing, NY. Surrounding residential development and neighborhood retail contribute to the commercial setting, while the Q13, Q28, and QM3 bus lines and proximity to the Flushing LIRR station provide transportation access. Public water and public sewer serve the property, which was built in 2021.
The property is positioned near Northern Boulevard and 147th Street in Flushing, NY. Surrounding residential development and neighborhood retail contribute to the commercial setting, while the Q13, Q28, and QM3 bus lines and proximity to the Flushing LIRR station provide transportation access. Public water and public sewer serve the property, which was built in 2021.
Key Highlights
- Entire 2nd floor totaling approximately 8,000 gross SF / 7,290 net SF
- Retail Certificate of Occupancy
- Private entrance with multiple enclosed rooms
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
$130,126
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
2.98%
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%
$2,602,520
$2.6M
Cap Rate 7%
$1,858,943
$1.9M
Cap Rate 9%
$1,445,844
$1.4M
Market Conditions
NOI Build-Up for 7,290 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
$218.7K $30.00/SF
− Vacancy
−$32.8K −$4.50/SF
EGI
$185.9K $25.50/SF
− OpEx
−$55.8K −$7.65/SF
NOI
$130.1K $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%
$2,602,520
Cap Rate 7%
$1,858,943
Cap Rate 9%
$1,445,844
Alternative Uses
Best Use
Retail
$1.86M
$1.63M – $2.17M
NOI $130,126 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.37M
$4.70M – $6.27M
NOI $376,199 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,334
Businesses Nearby
335k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Dining 33%
Shops & Services 15%
Hotels & Casinos 8%
Stop & Shop
Groceries
58,603 visits/mo
0.4 miles
H Mart
Groceries
42,194 visits/mo
0.3 miles
H Mart
Groceries
42,072 visits/mo
0.5 miles
McDonald's
Dining
31,361 visits/mo
0.4 miles
Shell
Shops & Services
21,073 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Second-floor retail condominium with private entry, multiple rooms, installed HVAC, and a Retail Certificate of Occupancy.
Where is this retail space located?
The property is located at 146-17 Northern Boulevard Flushing, 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: Entire 2nd floor totaling approximately 8,000 gross SF / 7,290 net SF; Retail Certificate of Occupancy; Private entrance with multiple enclosed rooms
