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    Retail Condo in Fresh Meadows

    158-15 Union Turnpike Fresh Meadows, NY 11366

    Claim this Listing
    For Sale
    $3,990,000

    SINGLE_FAMILY - Fresh Meadows, NY

    Type:Retail
    Property size:
    9,748 SF
    Price / SF:
    $409/SF
    Added:
    May 22, 2026
    Days on Market:
    52
    Last Refresh:
    Jul 12 at 5:06 am

    Property Features for 158-15 Union Turnpike

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking
    10
    Parking features
    Garage
    Standard status
    Active
    Size
    9,748 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    25440

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    2018
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick

    Listing agent Annie Hsu License #10301207568

    Listing office Keller Williams Rlty Landmark 3255 Francis Lewis Blvd, Flushing, NY

    Listing date May 22, 2026

    MLS# 1003643

    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 Fresh Meadows, this retail condo unit is situated in a modern mixed-use condominium building constructed in 2018. The ground-floor commercial unit offers approximately 9,748 square feet. It benefits from high visibility and strong pedestrian traffic. Previously leased at $28,000 per month on a triple-net (NNN) basis, the property presents an investment opportunity with a cap rate approaching 9%. A tax abatement is in place through 2033. Zoned R5D, the space accommodates a range of permitted uses, including retail, office, medical, and community facility. The property is located in a thriving neighborhood with strong demographics and convenient access to major roadways, public transportation, and nearby shopping destinations. The property is located in Queens.

    Key Highlights

    • High‑visibility ground‑floor retail condo in a modern mixed‑use building.
    • Attractive investment opportunity with a cap rate approaching 9% and previous lease at $28,000/month (NNN).
    • Tax abatement in place through 2033, reducing operating expenses.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $491.3k $50.40
    − Vacancy −$63.4k −$6.50
    EGI $427.9k $43.90
    − OpEx −$107.0k −$10.97
    NOI $320.9k $32.92
    9,748 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $4.58M
    $4.01M – $5.35M (±1% cap)
    NOI $320,941 @ 7.0% cap · market cap 8.04%
    Second Best
    Retail
    $2.49M
    $2.18M – $2.90M (±1% cap)
    NOI $174,002 @ 7.0% cap · market cap 4.36%
    Theoretical Best
    Office A
    $7.19M
    $6.29M – $8.38M (±1% cap)
    NOI $503,044 @ 7.0% cap · market cap 12.61%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Midea Air Conditioner ... Electronics & Wireless Store Midea Air Conditioning ... Big Box & Wholesale Store

    Suggested Use

    Law Firm Parking Lot & Garage Real Estate Agency Bar & Pub Hair Salon Furniture & Home Goods Gym & Fitness Center Spa & Massage Center Storage Facility Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Retail space - 9,748 SqFt commercial condo with tax abatement through 2033.
    Where is this retail space located?
    The property is located at 158-15 Union Turnpike 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: High‑visibility ground‑floor retail condo in a modern mixed‑use building.; Attractive investment opportunity with a cap rate approaching 9% and previous lease at $28,000/month (NNN).; Tax abatement in place through 2033, reducing operating expenses.
    Contact an agent
    (917) 725-7588
    We can help!
    Contact an agent
    Annie Hsu
    Real Estate License ID: 10301207568
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