Mixed-Use Brick Building with Rooftop
For Sale
$1,650,000
171-73 46th Avenue, Flushing, NY 11358
Residential Income, Flushing, NY
Property Size3,800 SF
Lot Size0.06 Acres
Price / SF$434.21
Days on Market93
Property Features for 171-73 46th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Garage, Driveway
Basement
Finished, Storage Space
Elementary school
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Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
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Middle school district
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High school district
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Directions
Google Maps
Standard status
Active
APN
05525-0002
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
Amenities
private rooftop patio
garage parking
Building Details
Year built
1930
Number of units
4
Building materials
Brick
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: May 20
Changed: Aug 20
Last Checked: Aug 20 at 2:06AM
MLS# 1002561
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.
Brick mixed-use building with approximately 3,800 SF of building area, built in 1930, configured for multiple income streams. The front commercial space is approximately 1,400 SF with a private restroom and basement access and is currently occupied by an established tenant. The rear garage is approximately 1,000 SF with separate rear access and additional basement space, currently configured for storage use.
The second floor includes two residential units with updated kitchens and renovated bathrooms: one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit. The 1-bedroom unit has exclusive access to an approximately 720 SF private rooftop patio. Separate electric and gas meters are provided for residential and commercial tenants, along with garage parking with driveway access.
Zoned R3-2 with a C1-3 commercial overlay. Conveniently located near Northern Boulevard and everyday amenities, with access to Q26, Q27, and Q31 bus lines, the 7 subway line, and the Auburndale LIRR station. Natural gas heating, public water, and public sewer service the property.
The second floor includes two residential units with updated kitchens and renovated bathrooms: one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit. The 1-bedroom unit has exclusive access to an approximately 720 SF private rooftop patio. Separate electric and gas meters are provided for residential and commercial tenants, along with garage parking with driveway access.
Zoned R3-2 with a C1-3 commercial overlay. Conveniently located near Northern Boulevard and everyday amenities, with access to Q26, Q27, and Q31 bus lines, the 7 subway line, and the Auburndale LIRR station. Natural gas heating, public water, and public sewer service the property.
Key Highlights
- Approximately 720 SF private rooftop patio exclusive to the 1‑bedroom, 1‑bath unit
- Front retail storefront approximately 1,400 SF with private restroom and basement access, currently occupied
- Rear garage approximately 1,000 SF with separate rear access and basement storage configuration
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
$92,889
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
5.63%
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%
$1,857,780
$1.9M
Cap Rate 7%
$1,326,986
$1.3M
Cap Rate 9%
$1,032,100
$1.0M
Market Conditions
NOI Build-Up for 3,800 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
$175.6K $46.20/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$168.9K $44.44/SF
− OpEx
−$76.0K −$20.00/SF
NOI
$92.9K $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 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%
$1,857,780
Cap Rate 7%
$1,326,986
Cap Rate 9%
$1,032,100
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - R3-2 zoning with C1-3 commercial overlay; retail storefront plus two residential units and rooftop patio.
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: Approximately 720 SF private rooftop patio exclusive to the 1‑bedroom, 1‑bath unit; Front retail storefront approximately 1,400 SF with private restroom and basement access, currently occupied; Rear garage approximately 1,000 SF with separate rear access and basement storage configuration
