Mixed-Use Restaurant Building with
For Sale
$2,388,000
14920 41st Ave, Queens, NY 11355
Four-unit mixed-use building with restaurant space and high ceilings, supporting residential income with modern systems.
Property Size4,320 SF
Price / SF$459.23
Days on Market140
Property Features for 14920 41st Ave
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Commercial
Zoning
R5/C1-2
Warehouse & Industrial
Clear Height
9 ft
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$23,526
Building Details
Building Size
4,320 SF
Year Built
1931
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
Listed By:
Richard Matt Shane · License #1020151
(516) 279-8828
Source:
Elliman
Added: Jun 4
Changed: Oct 21
Last Checked: Oct 20 at 9:44PM
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 All Island Estates Realty Corp
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Investment Insights
Based on property information with market context.
This mixed-use restaurant building offers four residential units plus restaurant use. The property includes two 1-bedroom apartments and one 2-bedroom apartment, along with a basement and high 9’ ceilings. Building systems include sprinklers, 200-amp power, all-new LED lighting, and central air conditioning (CAC).
Located in Queens at 14920 41st Ave, it is positioned in the Murray Hill area, approximately three blocks off Northern Blvd and only minutes from I-678 (Whitestone Expy.). The surrounding tenant mix includes major banks and retailers, as well as service and quick-service operators such as UPS, Verizon, T-Mobile, CubeSmart, AutoZone, Dunkin’, 7-Eleven, YMCA, Enterprise Rent-A-Car, Duane Reade, and multiple restaurant brands.
The configuration is suited for an owner-operator or investor seeking a live-work setup with on-site residential units and restaurant space under R5/C1-2 zoning. With modern lighting and established life-safety and electrical capacity, the building provides a practical foundation for a business and its accompanying residential component.
Located in Queens at 14920 41st Ave, it is positioned in the Murray Hill area, approximately three blocks off Northern Blvd and only minutes from I-678 (Whitestone Expy.). The surrounding tenant mix includes major banks and retailers, as well as service and quick-service operators such as UPS, Verizon, T-Mobile, CubeSmart, AutoZone, Dunkin’, 7-Eleven, YMCA, Enterprise Rent-A-Car, Duane Reade, and multiple restaurant brands.
The configuration is suited for an owner-operator or investor seeking a live-work setup with on-site residential units and restaurant space under R5/C1-2 zoning. With modern lighting and established life-safety and electrical capacity, the building provides a practical foundation for a business and its accompanying residential component.
Key Highlights
- 4‑unit mixed‑use building with 5,200+ sqft and restaurant space, plus apartment income
- Year built 1931; features high 9’ ceilings and a basement
- Apartment mix includes two 1‑bedroom units and one 2‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,111
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
9 ft
Clear height
4
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,601
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit mixed-use building with restaurant space and high ceilings, supporting residential income with modern systems.
Where is this quadplex located?
The property is located at 14920 41st Ave Queens, 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: 4‑unit mixed‑use building with 5,200+ sqft and restaurant space, plus apartment income; Year built 1931; features high 9’ ceilings and a basement; Apartment mix includes two 1‑bedroom units and one 2‑bedroom unit
