Ground-Floor Retail
For Sale
$3,990,000
158-15 Union Turnpike 1a, Fresh Meadows, NY 11366
The commercial unit is part of a mixed-use condominium and has R5D zoning.
Property Size9,748 SF
Price / SF$409.31
Days on Market14
Property Features for 158-15 Union Turnpike 1a
General Information
Standard status
Active
Size
9,748 SF
Zoning
R5D
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$25,440
Amenities
No
Public
10
Garage, Private
9748
Building Details
Building Size
9,748 SF
Year Built
2018
Stories
1
Listing Agency:
(516) 703-2918
Listed By:
Alex Switalski
Source:
Hedgestonehomes
Added: Oct 16
Changed: Oct 28
Last Checked: Oct 28 at 9:18AM
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 Alex Switalski
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,748-square-foot commercial condominium occupies the ground floor of a mixed-use building completed in 2018. The R5D-zoned space is identified for retail, office, medical, and community-facility uses.
A tax abatement is in effect through 2033. The unit was previously leased on a triple-net basis, and the stated cap rate is approaching 9%.
A tax abatement is in effect through 2033. The unit was previously leased on a triple-net basis, and the stated cap rate is approaching 9%.
Key Highlights
- 9,748‑square‑foot ground‑floor commercial condominium
- Located in a mixed‑use building completed in 2018
- R5D zoning; identified uses include retail, office, medical, and community facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,002
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,480,040
$3.5M
Cap Rate 7%
$2,485,743
$2.5M
Cap Rate 9%
$1,933,356
$1.9M
Market Conditions
NOI Build-Up for 9,748 SF
Gross rent
$292.4K $30.00/SF
− Vacancy
−$43.9K −$4.50/SF
EGI
$248.6K $25.50/SF
− OpEx
−$74.6K −$7.65/SF
NOI
$174.0K $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 Rate 5%
$3,480,040
Cap Rate 7%
$2,485,743
Cap Rate 9%
$1,933,356
Alternative Uses
Best Use
Retail
$2.49M
$2.18M – $2.90M
NOI $174,002 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.19M
$6.29M – $8.38M
NOI $503,044 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,544
Businesses Nearby
337k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 27%
Dining 23%
Apparel 20%
Shops & Services 16%
The Home Depot
Home Improvements & Furnishings
82,619 visits/mo
0.4 miles
DICK'S Sporting Goods
Apparel
60,216 visits/mo
0.4 miles
Stop & Shop
Groceries
45,965 visits/mo
0.5 miles
Starbucks
Dining
25,178 visits/mo
0.4 miles
Shell
Shops & Services
25,168 visits/mo
0.5 miles
Demographics for 11366, NY
14,430
Population
4,915
Households
2.9
Avg Household Size
41
Median Age
52%
College-Educated
85%
High-School Grad
1.5 sq mi
ZIP Area
9,620
Density / Sq Mi
$117,402
Median Household Income
$58,028
Median Earnings
$2,101
Median Rent
$950,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - The commercial unit is part of a mixed-use condominium and has R5D zoning.
Where is this retail space located?
The property is located at 158-15 Union Turnpike 1a Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: 9,748‑square‑foot ground‑floor commercial condominium; Located in a mixed‑use building completed in 2018; R5D zoning; identified uses include retail, office, medical, and community facility
