Mixed-Use Building with Rooftop
For Sale
$1,650,000
171-73 46th Avenue, Flushing, NY 11358
Retail, residential, garage, and storage components create a flexible mixed-use property with separate utility metering and parking.
Property Size3,800 SF
Price / SF$434.21
Days on Market86
Property Features for 171-73 46th Avenue
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Duplex
Zoning
R3-2 with C1-3 commercial overlay
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,895
Amenities
private restroom
basement access
updated kitchens
renovated bathrooms
private rooftop patio
garage parking
separate electric and gas meters
Building Details
Building Size
3,800 SF
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
B Square Realty
Listed By:
Li Li
Source:
Barbieliteam
Added: May 20
Changed: Aug 11
Last Checked: Aug 12 at 3:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of B Square Realty
Investment Insights
Based on property information with market context.
Built in 1930, this 3,800-square-foot mixed-use property combines commercial, residential, and accessory space within one building. The approximately 1,400-square-foot front retail area includes a private restroom and basement access and is occupied by an established tenant. Two updated residential units are located on the second floor: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. The smaller unit includes exclusive use of an approximately 720-square-foot rooftop patio.
At the rear, an approximately 1,000-square-foot garage has its own rear entry and additional basement storage space. The property also includes garage parking and separate electric and gas meters serving the residential and commercial occupants. Zoned R3-2 with a C1-3 commercial overlay; buyers should independently confirm zoning, permitted uses, and occupancy.
At the rear, an approximately 1,000-square-foot garage has its own rear entry and additional basement storage space. The property also includes garage parking and separate electric and gas meters serving the residential and commercial occupants. Zoned R3-2 with a C1-3 commercial overlay; buyers should independently confirm zoning, permitted uses, and occupancy.
Key Highlights
- 3,800 SF mixed‑use building constructed in 1930
- Approximately 1,400 SF front retail space with private 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
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 - Retail, residential, garage, and storage components create a flexible mixed-use property with separate utility metering and 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: 3,800 SF mixed‑use building constructed in 1930; Approximately 1,400 SF front retail space with private restroom and basement access; Two second‑floor apartments: 2‑bedroom/1‑bath and 1‑bedroom/1‑bath
