Mixed-Use Property With
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 Market154
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
Finished, Storage Space
Elementary school district
Contact Agent
Middle school district
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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
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: Sep 29
Last Checked: Oct 5 at 4:06AM
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 brick mixed-use property, built in 1930, contains approximately 3,800 SF across commercial, residential, and accessory areas. The approximately 1,400 SF storefront includes a private restroom and basement access and is occupied by an established tenant. Two apartments are located above: a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit with exclusive use of an approximately 720 SF rooftop patio. A separate rear garage and storage area of approximately 1,000 SF has its own access and additional basement space. Residential and commercial areas have separate electric and gas meters, while garage parking, public water, public sewer, natural-gas heat, and multi-unit cooling support the property’s configuration.
The property is located at 171-73 46th Avenue in Flushing, Queens, near Northern Boulevard, supermarkets, restaurants, shopping, and daily amenities. Bus service includes the Q26, Q27, and Q31, with connections to Downtown Flushing, the 7 subway line, and the Auburndale LIRR station. The property is zoned C1-3.
The property is located at 171-73 46th Avenue in Flushing, Queens, near Northern Boulevard, supermarkets, restaurants, shopping, and daily amenities. Bus service includes the Q26, Q27, and Q31, with connections to Downtown Flushing, the 7 subway line, and the Auburndale LIRR station. The property is zoned C1-3.
Key Highlights
- Approximately 3,800 SF mixed‑use building with commercial, residential, garage, and storage components
- Occupied approximately 1,400 SF storefront with private restroom and basement access
- Two apartments: 2‑bedroom, 1‑bath and 1‑bedroom, 1‑bath with approximately 720 SF rooftop patio
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Brick commercial building combining an occupied storefront, two apartments, storage space, and on-site parking.
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 3,800 SF mixed‑use building with commercial, residential, garage, and storage components; Occupied approximately 1,400 SF storefront with private restroom and basement access; Two apartments: 2‑bedroom, 1‑bath and 1‑bedroom, 1‑bath with approximately 720 SF rooftop patio
