Prime Downtown Flushing Mixed-Use
For Sale
Contact for pricing
37-19 Main St, Flushing, NY 11354
Mixed-use property in prime downtown Flushing location with tenants.
Property Size10,000 SF
Price / SF$1,135
Days on Market188
Property Features for 37-19 Main St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Office, Retail
Lease Type
NN
Net Operating Income
$568,000
Building Details
Year Renovated
2025
Stories
4
Units
2
Listing Agency:
Highcap Group
(646) 546-5880
Listed By:
Josh Goldflam · License #NY 10351201402
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 11 at 10:01AM
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 Highcap Group
Investment Insights
Based on property information with market context.
This mixed-use property is located in prime downtown Flushing. It features one office tenant and one retail tenant, both operating under NN leases. The landlord is responsible for taxes and insurance, while tenants cover increases. The leases are long-term and include personal guarantees. The property size is 10000 square feet.
Key Highlights
- Prime Downtown Flushing Location
- Two Tenants: One Office & One Retail
- NN Leases
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
$329,238
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
2.90%
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%
$6,584,760
$6.6M
Cap Rate 7%
$4,703,400
$4.7M
Cap Rate 9%
$3,658,200
$3.7M
Market Conditions
NOI Build-Up for 10,000 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
$504.0K $50.40/SF
− Vacancy
−$65.0K −$6.50/SF
EGI
$439.0K $43.90/SF
− OpEx
−$109.7K −$10.97/SF
NOI
$329.2K $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 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%
$6,584,760
Cap Rate 7%
$4,703,400
Cap Rate 9%
$3,658,200
Alternative Uses
Best Use
Office B
$4.70M
$4.12M – $5.49M
NOI $329,238 @ 7.0% cap · market cap 2.90%
Second Best
Retail
$2.55M
$2.23M – $2.98M
NOI $178,500 @ 7.0% cap · market cap 1.57%
Theoretical Best
Office A
$7.37M
$6.45M – $8.60M
NOI $516,048 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,516
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in prime downtown Flushing location with tenants.
Where is this mixed-use property located?
The property is located at 37-19 Main St Flushing, NY.
What is the asking price?
The asking price for this property is $11,350,000.
What are key features of this property?
This property features: Prime Downtown Flushing Location; Two Tenants: One Office & One Retail; NN Leases
