Brick Flex Space Near
For Sale
$1,790,000
Pending
146-27 Beech Avenue, Flushing, NY 11355
COMMERCIAL - Flushing, NY
Property Size7,100 SF
Days on Market208
Property Features for 146-27 Beech Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3X
Standard status
Pending
APN
05375-1107
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6875
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Ductless
Water source
Public
Building Details
Year built
2007
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Fenger Zou · License #10401313262
(347) 996-7996
Added: Jan 16
Changed: Aug 4
Last Checked: Aug 12 at 12:06PM
MLS# 952581
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.
This 7,100-square-foot flex space is a 2007 brick-built commercial property in Flushing. The building includes baseboard heating, ductless cooling, public water, and public sewer. The source information identifies potential applications including medical, rehabilitation, educational, studio, office, showroom, storage, and e-commerce operations.
The property is within walking distance of supermarkets and Main St, including the 7 train station. R3X zoning is reported for the site, providing an additional land-use detail for prospective occupants and owners to evaluate.
The property is within walking distance of supermarkets and Main St, including the 7 train station. R3X zoning is reported for the site, providing an additional land-use detail for prospective occupants and owners to evaluate.
Key Highlights
- 7,100 SF flex space in a 2007 brick building
- R3X zoning
- Walking distance to supermarkets and Main St
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
$163,712
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
9.15%
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%
$3,274,240
$3.3M
Cap Rate 7%
$2,338,743
$2.3M
Cap Rate 9%
$1,819,022
$1.8M
Market Conditions
NOI Build-Up for 7,100 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
$298.2K $42.00/SF
− Vacancy
−$25.3K −$3.57/SF
EGI
$272.9K $38.43/SF
− OpEx
−$109.1K −$15.37/SF
NOI
$163.7K $23.06/SF
Area
Queens County, NY
Vacancy
8.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
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%
$3,274,240
Cap Rate 7%
$2,338,743
Cap Rate 9%
$1,819,022
Alternative Uses
Best Use
Office B
$3.34M
$2.92M – $3.90M
NOI $233,759 @ 7.0% cap · market cap 13.06%
Second Best
Healthcare Medical
$2.34M
$2.05M – $2.73M
NOI $163,712 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$5.23M
$4.58M – $6.11M
NOI $366,394 @ 7.0% cap · market cap 20.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,001
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The property has brick construction, public water and sewer, and ductless cooling.
Where is this flex space located?
The property is located at 146-27 Beech Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 7,100 SF flex space in a 2007 brick building; R3X zoning; Walking distance to supermarkets and Main St
