Flushing Mixed-Use Investment
171-73 46th Avenue, Flushing, NY 11358
MULTI_FAMILY - Flushing, NY
Property size:
3,800 SFLot size:
0.06 AcresPrice / SF:
$434/SF- Added:
- May 20, 2026
- Days on Market:
- 48
- Last Refresh:
- Jul 6 at 1:06 am
Property Features for 171-73 46th Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Basement
- Parking features
- Driveway, Garage
- Basement
- Finished, Storage Space
- Standard status
- Active
- APN
- 05525-0002
- Size
- 3,800 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 10895
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Multi Units
- Water source
- Public
Building Details
- Year built
- 1930
- Number of units
- 4
- Building materials
- Brick
Listing agent Li Li (646) 889-9988
Listing office B Square Realty 13620 38th Ave Ste 3E, Flushing, NY (718) 939-8388
Listing date May 20, 2026
MLS# 1002561
Listing URL
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.
HighLights
- 3,800 SF mixed‑use building with front commercial retail space plus two residential units above
- Front commercial space offers approx. 1,400 SF with private restroom and basement access; currently occupied by an established tenant
- Rear garage offers approx. 1,000 SF with separate rear access and additional basement space; currently configured for storage income
- Two updated residential units: 2BR/1BA and 1BR/1BA with renovated bathrooms and updated kitchens
- Second‑floor 1BR unit includes exclusive access to an approx. 720 SF private rooftop patio
- Utilities include separate electric and gas meters for residential vs. commercial; parking features include driveway and garage
Overview
Located in Auburndale, Flushing, this mixed-use property presents a strong investment opportunity. The building has a total area of 3,800 square feet and is zoned R3-2 with a C1-3 commercial overlay. The property includes commercial retail space, two residential units, and a garage with storage spaces, providing multiple income streams. The buyer should independently verify zoning, permitted use, and occupancy. The front commercial space, approximately 1,400 square feet, includes a private restroom and basement access and is currently occupied by an established tenant. The rear garage, approximately 1,000 square feet, has separate rear access and additional basement space, configured for storage use to generate additional income. The second floor contains two residential units with updated kitchens and renovated bathrooms: a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit. The 1-bedroom unit includes exclusive access to a private rooftop patio of approximately 720 square feet. Additional features include separate electric and gas meters for residential and commercial tenants, plus garage parking. The property is conveniently located near Northern Boulevard, supermarkets, restaurants, shopping, and everyday amenities, with access to Q26, Q27, and Q31 bus lines connecting to Downtown Flushing, the 7 subway line, and Auburndale LIRR station. This property offers existing income, flexible space, parking, and long-term value in an established Flushing neighborhood.
Local Financial Insights For Apartment 5plus
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 | $175.6k | $46.20 |
| − Vacancy | −$6.7k | −$1.76 |
| EGI | $168.9k | $44.44 |
| − OpEx | −$76.0k | −$20.00 |
| NOI | $92.9k | $24.44 |
3,800 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 5.63%
Second Best
Retail
$969.0K
$847.9K – $1.13M
NOI $67,830 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,098 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Flushing
- County
- Queens
- State
- New York
- Longitude
- -73.793694
- Latitude
- 40.753651
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail, residential units, and garage.
Where is this mixed-use property located?
The property is located at 171-73 46th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 3,800 SF mixed‑use building with front commercial retail space plus two residential units above; Front commercial space offers approx. 1,400 SF with private restroom and basement access; currently occupied by an established tenant; Rear garage offers approx. 1,000 SF with separate rear access and additional basement space; currently configured for storage income
