New Mixed-Use Building For
For Sale
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214-13 41st Ave, Queens, NY
New construction mixed-use building with residential, retail, and parking.
Property Size36,324 SF
Lot Size0.09 Acres
Price / SF$519.99
Days on Market331
Property Features for 214-13 41st Ave
General Information
Standard status
Active
Size
36,324 SF
Lot size
0.09 Acres
Property subtype
OFFICE
Listing Agency:
B6 Real Estate Advisors
(646) 933-2677
Listed By:
Alex Woodlief · License #10401244880
(646) 933-2677
Source:
Moodyscre
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 20 at 1:02PM
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 B6 Real Estate Advisors
Investment Insights
Based on property information with market context.
This is a new construction mixed-use building completed in 2023. The property has a total of 22 units, including 18 residential units (13 market rate and 5 affordable), 2 ground floor retail spaces, 1 community facility, and 1 garage. The garage can accommodate up to 42 parking spaces. The property's total size is 36324 square feet.
Key Highlights
- New construction completed in 2023.
- Mixed‑use building with residential, retail, community facility, and garage components.
- 18 Residential Units (13 Market Rate + 5 Affordable).
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
$887,919
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
4.70%
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%
$17,758,380
$17.8M
Cap Rate 7%
$12,684,557
$12.7M
Cap Rate 9%
$9,865,767
$9.9M
Market Conditions
NOI Build-Up for 36,324 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
$1.68M $46.20/SF
− Vacancy
−$63.8K −$1.76/SF
EGI
$1.61M $44.44/SF
− OpEx
−$726.5K −$20.00/SF
NOI
$887.9K $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%
$17,758,380
Cap Rate 7%
$12,684,557
Cap Rate 9%
$9,865,767
Alternative Uses
Best Use
Apartment 5plus
$12.68M
$11.10M – $14.80M
NOI $887,919 @ 7.0% cap · market cap 4.70%
Second Best
Retail
$9.26M
$8.10M – $10.81M
NOI $648,383 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$26.78M
$23.43M – $31.24M
NOI $1,874,493 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,153
Businesses Nearby
Explore this area
Business Placement
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 - New construction mixed-use building with residential, retail, and parking.
Where is this mixed-use property located?
The property is located at 214-13 41st Ave Queens, NY.
What is the asking price?
The asking price for this property is $18,888,000.
What are key features of this property?
This property features: New construction completed in 2023.; Mixed‑use building with residential, retail, community facility, and garage components.; 18 Residential Units (13 Market Rate + 5 Affordable).
