Full-Floor Retail
New
For Sale
$4,360,000
146-17 Northern Boulevard 2nd Fl, Flushing, NY 11354
Second-floor commercial space with a private entrance, multiple rooms, and installed HVAC systems.
Property Size8,000 SF
Price / SF$545
Days on Market2
Property Features for 146-17 Northern Boulevard 2nd Fl
General Information
Standard status
Active
Size
8,000 SF
Additional Details
Floor
2
Amenities
dedicated private entrance
multiple private rooms
HVAC heating and cooling systems
Building Details
Year Built
2021
Listing Agency:
B Square Realty
Listed By:
Li Li
Source:
Realtyconnectusa
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 4:03PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This 8,000 SF retail space occupies the entire second floor of a building completed in 2021. A dedicated private entrance leads to a layout with multiple enclosed rooms, while installed HVAC systems provide heating and cooling. The configuration can accommodate educational and training operations, medical or wellness practices, professional services, showroom concepts, and appointment-based retail uses.
The property is located at 146-17 Northern Boulevard near 147th Street in Flushing. Multiple bus routes, including Q13, Q28, and QM3, serve the area, and the Flushing LIRR station is nearby. Recent residential development surrounds the corridor, adding neighborhood activity and supporting access for staff and customers.
The property is located at 146-17 Northern Boulevard near 147th Street in Flushing. Multiple bus routes, including Q13, Q28, and QM3, serve the area, and the Flushing LIRR station is nearby. Recent residential development surrounds the corridor, adding neighborhood activity and supporting access for staff and customers.
Key Highlights
- 8,000 SF full‑floor retail space on the 2nd Floor
- Completed in 2021
- Dedicated private entrance with multiple private 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
$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
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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 commercial space with a private entrance, multiple rooms, and installed HVAC systems.
Where is this retail space located?
The property is located at 146-17 Northern Boulevard 2nd Fl 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: 8,000 SF full‑floor retail space on the 2nd Floor; Completed in 2021; Dedicated private entrance with multiple private rooms
