Three-Story Office
25-18 Francis Lewis Boulevard, Flushing, NY 11358
For Sale
$1,570,000
As-of-right residential conversion is permitted, with separate utility meters and kitchenettes serving each level.
Property Size3,081 SF
Lot Size0.06 Acres
Price / SF$509.57
Days on Market131
Property Features for 25-18 Francis Lewis Boulevard
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Site & Location
Highway Access
Utilities to Site
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
separate utility meters
6 split HVAC units
3 bathrooms and 3 kitchenettes
enclosed rear yard space
large windows and excellent natural light
Building Details
Building Size
Buildings
Stories
Tenancy
Listing Agency:
Tyme Realty Corp
(646) 893-8963
Listed By:
Hena Choung · License #10301203655
(646) 416-1174
Source:
Croninreale
Added: Jul 1
Changed: Nov 7
Last Checked: Nov 7 at 6:15PM
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 Tyme Realty Corp
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Investment Insights
Based on property information with market context.
This three-story office property contains approximately 3,081 SF, arranged across floors of roughly 1,000 SF or more. Each level has its own utility meter, kitchenette, bathroom, and two split HVAC units. Full-floor windows bring natural light into the interior, while an enclosed yard is located at the rear. The site also includes one parking space and measures 24.8 ft x 106 ft. R4 zoning permits residential conversion as of right. The first floor may be delivered vacant; the building is otherwise fully occupied through 2027.
The property is on Francis Lewis Boulevard in Flushing, near the Whitestone Expressway, Throgs Neck Bridge, Whitestone Bridge, Cross Island Parkway, Grand Central Parkway, and Van Wyck Expressway. This access network connects the location with several major roadways and crossings in Queens.
The property is on Francis Lewis Boulevard in Flushing, near the Whitestone Expressway, Throgs Neck Bridge, Whitestone Bridge, Cross Island Parkway, Grand Central Parkway, and Van Wyck Expressway. This access network connects the location with several major roadways and crossings in Queens.
Key Highlights
- Approximately 3,081 SF across three stories, with about 1,000 SF per floor
- R4 zoning allows residential conversion as of right
- Separate utility meters, one bathroom, and one kitchenette on each floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,438
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,028,760
$2.0M
Cap Rate 7%
$1,449,114
$1.4M
Cap Rate 9%
$1,127,089
$1.1M
Market Conditions
NOI Build-Up for 3,081 SF
Gross rent
$155.3K $50.40/SF
− Vacancy
−$20.0K −$6.50/SF
EGI
$135.3K $43.90/SF
− OpEx
−$33.8K −$10.97/SF
NOI
$101.4K $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%
$2,028,760
Cap Rate 7%
$1,449,114
Cap Rate 9%
$1,127,089
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,438 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $158,994 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,528
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Flushing
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - As-of-right residential conversion is permitted, with separate utility meters and kitchenettes serving each level.
Where is this office building located?
The property is located at 25-18 Francis Lewis Boulevard Flushing, NY.
What is the asking price?
The asking price for this property is $1,570,000.
What are key features of this property?
This property features: Approximately 3,081 SF across three stories, with about 1,000 SF per floor; R4 zoning allows residential conversion as of right; Separate utility meters, one bathroom, and one kitchenette on each floor
