Mixed-Use Building with
For Sale
$1,699,998
17324 47TH AVE, Flushing, NY 11358
Commercial space and an upper-floor residence provide mixed-use functionality.
Property Size2,440 SF
Price / SF$696.72
Days on Market169
Property Features for 17324 47TH AVE
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$8,957
Amenities
Central Air
3
Building Details
Year Built
1935
Listing Agency:
A & A Associates
(718) 229-1848
Listed By:
Chao Ling Yeh · License #37YE0942261
Source:
Xome
Added: Mar 15
Changed: Aug 30
Last Checked: Aug 30 at 2:07PM
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 A & A Associates
Investment Insights
Based on property information with market context.
This mixed-use property contains 2,440 square feet with a street-level storefront and commercial area above a full finished basement. The commercial component is described as suitable for retail, office, or community use. Central air is included.
The second-floor residential unit measures approximately 1,100 square feet and offers three bedrooms and two full bathrooms, including a primary suite. Its layout includes an open living and dining area, skylight, hardwood floors, and a kitchen with ample cabinetry.
Located at 17324 47th Ave in Flushing, the property has a Q27 bus stop directly in front. Flushing Main St and the #7 train are accessible from the property, with restaurants, shops, supermarkets, and other daily conveniences in the surrounding area.
The second-floor residential unit measures approximately 1,100 square feet and offers three bedrooms and two full bathrooms, including a primary suite. Its layout includes an open living and dining area, skylight, hardwood floors, and a kitchen with ample cabinetry.
Located at 17324 47th Ave in Flushing, the property has a Q27 bus stop directly in front. Flushing Main St and the #7 train are accessible from the property, with restaurants, shops, supermarkets, and other daily conveniences in the surrounding area.
Key Highlights
- 2,440‑square‑foot mixed‑use property at 17324 47th Ave, Flushing, NY 11358
- Street‑level storefront with a full finished basement
- Second‑floor residential unit measures approximately 1,100 square feet
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
$59,644
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
3.51%
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%
$1,192,880
$1.2M
Cap Rate 7%
$852,057
$852.1K
Cap Rate 9%
$662,711
$662.7K
Market Conditions
NOI Build-Up for 2,440 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
$112.7K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$108.4K $44.44/SF
− OpEx
−$48.8K −$20.00/SF
NOI
$59.6K $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%
$1,192,880
Cap Rate 7%
$852,057
Cap Rate 9%
$662,711
Alternative Uses
Best Use
Apartment 5plus
$852.1K
$745.6K – $994.1K
NOI $59,644 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$622.2K
$544.4K – $725.9K
NOI $43,554 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,916 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,131
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 98%
Home Improvements & Furnishings 2%
Taco Bell
Dining
30,574 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
12,889 visits/mo
0.5 miles
BonChon Chicken
Dining
6,388 visits/mo
0.5 miles
Mattress Firm
Home Improvements & Furnishings
782 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space and an upper-floor residence provide mixed-use functionality.
Where is this mixed-use property located?
The property is located at 17324 47TH AVE Flushing, NY.
What is the asking price?
The asking price for this property is $1,699,998.
What are key features of this property?
This property features: 2,440‑square‑foot mixed‑use property at 17324 47th Ave, Flushing, NY 11358; Street‑level storefront with a full finished basement; Second‑floor residential unit measures approximately 1,100 square feet
