Mixed-Use Building With
For Sale
$2,388,000
14920 41st Avenue, Flushing, NY 11355
Commercial Sale, Flushing, NY
Property Size5,200 SF
Lot Size0.05 Acres
Price / SF$459.23
Days on Market95
Property Features for 14920 41st Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Directions
149th Street & 41st Avenue
Standard status
Active
APN
05054-0031
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
23526
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
Excellent Signage
High 9' Ceilings
200 Amp Power
All New LED Lighting
CAC
Building Details
Year built
1931
Building materials
Brick, Frame
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Added: May 21
Changed: Aug 19
Last Checked: Aug 23 at 5:06PM
MLS# 1003058
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 1931 brick mixed-use building contains approximately 5,200+ square feet across four units, with a restaurant component and three residential apartments. The apartment mix includes two one-bedroom units and one two-bedroom unit. Additional features include a basement, 9-foot ceilings, sprinklers, 200 Amp power, all-new LED lighting, central air conditioning, natural-gas heat, and public water and sewer.
The property is located in Murray Hill in Flushing, three blocks from Northern Blvd. and minutes from I-678, also known as the Whitestone Expressway. The surrounding commercial area includes national banks, telecommunications retailers, self-storage, automotive services, restaurants, convenience retail, and other established businesses.
The property is located in Murray Hill in Flushing, three blocks from Northern Blvd. and minutes from I-678, also known as the Whitestone Expressway. The surrounding commercial area includes national banks, telecommunications retailers, self-storage, automotive services, restaurants, convenience retail, and other established businesses.
Key Highlights
- Mixed‑use building totaling 5,200+ Sqft. with 4 units
- Restaurant component plus 2 one‑bedroom apartments and 1 two‑bedroom apartment
- 9' ceilings, basement, sprinklers, and 200 Amp power
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
$127,111
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
5.32%
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%
$2,542,220
$2.5M
Cap Rate 7%
$1,815,871
$1.8M
Cap Rate 9%
$1,412,344
$1.4M
Market Conditions
NOI Build-Up for 5,200 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
$240.2K $46.20/SF
− Vacancy
−$9.1K −$1.76/SF
EGI
$231.1K $44.44/SF
− OpEx
−$104.0K −$20.00/SF
NOI
$127.1K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,542,220
Cap Rate 7%
$1,815,871
Cap Rate 9%
$1,412,344
Alternative Uses
Best Use
Specialty Retail
$3.44M
$3.01M – $4.01M
NOI $240,669 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,111 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,345 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,710
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines a restaurant operation, three apartments, basement space, and central air conditioning.
Where is this mixed-use property located?
The property is located at 14920 41st Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $2,388,000.
What are key features of this property?
This property features: Mixed‑use building totaling 5,200+ Sqft. with 4 units; Restaurant component plus 2 one‑bedroom apartments and 1 two‑bedroom apartment; 9' ceilings, basement, sprinklers, and 200 Amp power
