Flushing Commercial Building with
For Sale
$8,250,000
150-15 41st Avenue, Flushing, NY 11354
Commercial Sale, Flushing, NY
Property Size18,100 SF
Lot Size0.16 Acres
Price / SF$455.80
Days on Market262
Property Features for 150-15 41st Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Rooms
Basement
Parking
20
Parking features
Garage
Basement
Full
Standard status
Active
APN
05034-0010
Size
18,100 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
89448
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2008
Floors in Building
3
Number of units
4
Building materials
Brick
Listing Agency:
New Group Realty Inc
(718) 255-9100
Listed By:
Yinzhu Jin
(718) 909-9596
Added: Dec 1, 2025
Changed: Aug 19
Last Checked: Aug 20 at 7:06AM
MLS# 935774
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.
Located in Flushing, this commercial building at 150-15 41st Ave offers 18,100 sq ft of usable space. Situated on a 50*142 lot, the building has a 41*115 footprint. The property includes a 4,700 sq ft parking garage and 800 sq ft of storage space. Zoned R5, the property generates an annual income of $550,000, with annual taxes of $87,000. The lot size is approximately 0.1563 acres.
Key Highlights
- Prime location in the heart of Flushing
- High annual income of $550,000
- 4,700 sq ft parking garage plus 800 sq ft of storage
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
$323,085
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
3.92%
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%
$6,461,700
$6.5M
Cap Rate 7%
$4,615,500
$4.6M
Cap Rate 9%
$3,589,833
$3.6M
Market Conditions
NOI Build-Up for 18,100 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
$543.0K $30.00/SF
− Vacancy
−$81.5K −$4.50/SF
EGI
$461.6K $25.50/SF
− OpEx
−$138.5K −$7.65/SF
NOI
$323.1K $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%
$6,461,700
Cap Rate 7%
$4,615,500
Cap Rate 9%
$3,589,833
Alternative Uses
Best Use
Retail
$4.62M
$4.04M – $5.38M
NOI $323,085 @ 7.0% cap · market cap 3.92%
Second Best
Industrial
$1.63M
$1.42M – $1.90M
NOI $113,866 @ 7.0% cap · market cap 1.38%
Theoretical Best
Office A
$13.34M
$11.68M – $15.57M
NOI $934,047 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,752
Businesses Nearby
145k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 28%
Groceries 16%
Office Supplies 14%
Jollibee
Dining
22,496 visits/mo
0.3 miles
Staples
Office Supplies
19,965 visits/mo
0.2 miles
Fresh N Save Marketplace
Groceries
18,264 visits/mo
0.3 miles
KFC
Dining
15,404 visits/mo
0.2 miles
BP
Shops & Services
15,385 visits/mo
0.1 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - High-income commercial building with parking garage in prime Flushing location.
Where is this parking lot & garage located?
The property is located at 150-15 41st Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $8,250,000.
What are key features of this property?
This property features: Prime location in the heart of Flushing; High annual income of $550,000; 4,700 sq ft parking garage plus 800 sq ft of storage
