Mixed-Use Building with Rooftop
For Sale
$1,650,000
171-73 46th Avenue, Flushing, NY 11358
Commercial Sale, Flushing, NY
Property Size3,800 SF
Lot Size0.06 Acres
Price / SF$434.21
Days on Market108
Property Features for 171-73 46th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1-3
Rooms
Basement
Parking features
Garage, Driveway
Basement
Storage Space, Finished
Elementary school district
Contact Agent
Middle school district
Contact Agent
High school district
Contact Agent
Directions
Google Map
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
Floors in Building
2
Number of units
4
Building materials
Brick
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: May 5
Changed: Aug 20
Last Checked: Aug 20 at 2:06AM
MLS# 995474
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.
This 3,800-square-foot brick mixed-use building, constructed in 1930, combines commercial, residential, garage, and storage components. The street-facing retail area measures approximately 1,400 square feet and includes a private restroom and basement access; it is occupied by an established tenant. At the rear, an approximately 1,000-square-foot garage provides separate access and additional basement storage. The second floor contains two apartments: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. The latter includes exclusive use of an approximately 720-square-foot rooftop patio. Updated kitchens and renovated bathrooms serve the residential units.
Separate electric and gas meters serve the residential and commercial occupants. Garage and driveway parking are included. The property is near Northern Boulevard, supermarkets, restaurants, shopping, and everyday amenities, with Q26, Q27, and Q31 bus service connecting to Downtown Flushing, the 7 subway line, and Auburndale LIRR station.
Separate electric and gas meters serve the residential and commercial occupants. Garage and driveway parking are included. The property is near Northern Boulevard, supermarkets, restaurants, shopping, and everyday amenities, with Q26, Q27, and Q31 bus service connecting to Downtown Flushing, the 7 subway line, and Auburndale LIRR station.
Key Highlights
- 3,800‑square‑foot mixed‑use building with retail, residential, garage, and storage areas
- Approximately 1,400‑square‑foot front retail space with restroom and basement access
- Two second‑floor apartments: 2‑bedroom/1‑bath and 1‑bedroom/1‑bath
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
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,119
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 - Retail, residential, garage, and storage components are arranged within an established brick property.
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‑square‑foot mixed‑use building with retail, residential, garage, and storage areas; Approximately 1,400‑square‑foot front retail space with restroom and basement access; Two second‑floor apartments: 2‑bedroom/1‑bath and 1‑bedroom/1‑bath
