Mixed-Use Property with
For Sale
$2,298,000
199-04 47 Avenue, Flushing, NY 11358
A first-floor doctor’s office is paired with residential space on the upper levels.
Property Size4,378 SF
Price / SF$524.90
Days on Market9
Property Features for 199-04 47 Avenue
General Information
Standard status
Active
Size
4,378 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$20,225
Amenities
Finished
7
Yes
First Floor Bedroom
No
Public
3
Driveway
Building Details
Year Built
2006
Listing Agency:
Promise Realty LLC
(516) 703-2918
Listed By:
Sooyeon (Kelly) Moon
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:55PM
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 Promise Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,378-square-foot mixed-use property, built in 2006, combines a doctor’s office on the first floor with residential space above. The upper floors each include three bedrooms and two full bathrooms. Interior features include finished areas, a living room, and a dining room.
The property is fully occupied, and a supermarket is directly in front of the building.
The property is fully occupied, and a supermarket is directly in front of the building.
Key Highlights
- 4,378 square feet of mixed‑use space
- Built in 2006
- First‑floor doctor’s office with residential space on the upper floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,140
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,882,800
$2.9M
Cap Rate 7%
$2,059,143
$2.1M
Cap Rate 9%
$1,601,556
$1.6M
Market Conditions
NOI Build-Up for 4,378 SF
Gross rent
$220.7K $50.40/SF
− Vacancy
−$28.5K −$6.50/SF
EGI
$192.2K $43.90/SF
− OpEx
−$48.0K −$10.97/SF
NOI
$144.1K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,882,800
Cap Rate 7%
$2,059,143
Cap Rate 9%
$1,601,556
Alternative Uses
Best Use
Office B
$2.06M
$1.80M – $2.40M
NOI $144,140 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $107,018 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$3.23M
$2.82M – $3.77M
NOI $225,926 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,561
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A first-floor doctor’s office is paired with residential space on the upper levels.
Where is this mixed-use property located?
The property is located at 199-04 47 Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $2,298,000.
What are key features of this property?
This property features: 4,378 square feet of mixed‑use space; Built in 2006; First‑floor doctor’s office with residential space on the upper floors
