Storefront Retail
For Sale
$2,780,000
20-23 College Point Boulevard, Flushing, NY 11356
For-sale storefront retail property in Queens County.
Property Size6,755 SF
Days on Market170
Property Features for 20-23 College Point Boulevard
General Information
Standard status
Active
Size
6,755 SF
Taxes and HOA fees
Annual Taxes
$32,452
Amenities
Wall/Window Unit(s)
Natural Gas
Unfinished
Building Details
Building Size
6,755 SF
Listing Agency:
Sweet Key Realty Group Inc
Listed By:
Kayla Piao · License #10311209982
(917) 292-1818
Source:
Evrealestate
Added: Mar 20
Changed: Sep 4
Last Checked: Sep 5 at 4:25AM
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 Sweet Key Realty Group Inc
Investment Insights
Based on property information with market context.
This for-sale storefront retail property is located at 20-23 College Point Boulevard in Queens, NY 11356. The offering is categorized as storefront/retail real estate.
Queens County, NY is the property’s listed jurisdiction, with the site presented as a commercial retail storefront on College Point Boulevard.
For details on the specific interior configuration, condition, and any income or tenant information, please request the available offering materials.
Queens County, NY is the property’s listed jurisdiction, with the site presented as a commercial retail storefront on College Point Boulevard.
For details on the specific interior configuration, condition, and any income or tenant information, please request the available offering materials.
Key Highlights
- For‑sale storefront retail property in Queens County
- Heating: natural gas
- Cooling: wall/window unit(s)
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
$120,577
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
4.34%
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%
$2,411,540
$2.4M
Cap Rate 7%
$1,722,529
$1.7M
Cap Rate 9%
$1,339,744
$1.3M
Market Conditions
NOI Build-Up for 6,755 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
$202.7K $30.00/SF
− Vacancy
−$30.4K −$4.50/SF
EGI
$172.3K $25.50/SF
− OpEx
−$51.7K −$7.65/SF
NOI
$120.6K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,411,540
Cap Rate 7%
$1,722,529
Cap Rate 9%
$1,339,744
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,577 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.98M
$4.36M – $5.81M
NOI $348,590 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
973
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Hola
Dining
973 visits/mo
0.3 miles
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Victoria Flower Wholesale — 1832 127th St, Flushing, NY 11356
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale storefront retail property in Queens County.
Where is this storefront property located?
The property is located at 20-23 College Point Boulevard Flushing, NY.
What is the asking price?
The asking price for this property is $2,780,000.
What are key features of this property?
This property features: For‑sale storefront retail property in Queens County; Heating: natural gas; Cooling: wall/window unit(s)
