14920 41st Avenue Flushing, NY 11355

This mixed-use building in Flushing features a restaurant and residential units. The free market building contains four units and over 5,200 square feet of space. It is located in the heart of Murray Hill, just three blocks from Northern Boulevard and minutes from I-678 (Whitestone Expressway). The property benefits from excellent signage and exposure, and is zoned R5/C1-2. Interior features include high 9-foot ceilings, sprinklers, 200 amp power, all new LED lighting, and central air conditioning. The building includes two one-bedroom apartments, one two-bedroom apartment, and a basement. Nearby neighbors include Chase Bank, TD Bank, Citizens Bank, Bank of America, UPS, Verizon, T-Mobile, CubeSmart Self Storage, AutoZone, Dunkin', 7-Eleven, YMCA, Enterprise-Rent-A-Car, Mobil, Duane Reade, Baskin-Robbins, Domino’s Pizza, Subway, IHOP, and KFC. The restaurant generates an annual income of $72,565.56 with 3% annual increases and a lease expiring on January 31, 2034. The tenant pays half of the property tax. The front and rear one-bedroom apartments on the second floor generate $16,800 and $20,400 annually, respectively. The third-floor two-bedroom apartment generates $45,600 annually. There is also a 50% tax rebate from the store of $12,000 annually and a 70% water rebate from the store of $5,400 annually. Hallway electricity costs $890 annually, maintenance and repairs cost $250 annually, water and sewer cost $7,714.29 annually, insurance costs $2,839 annually, and taxes cost $23,642 annually. The net operating income is $137,430.27 annually.