Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Flushing Prime Commercial Space Title is generated by Realmo AI

    40-33 Main Street, Flushing, NY 11354

    View on Map
    Claim this Listing
    For Lease
    $19,800/Mo $72 SF/Yr (calc)

    COMMERCIAL - Flushing, NY

    Property size:
    3,300 SF
    Lot size:
    0.08 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    48
    Last Refresh:
    May 12 at 11:06 pm

    Property Features for 40-33 Main Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    C4-3
    Standard status
    Active
    APN
    05019-0001
    Size
    3,300 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    122458

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Heating system
    Energy Star Qualified Equipment (Heating)
    Cooling system
    ENERGY STAR Qualified Equipment
    Water source
    Public

    Building Details

    Year built
    1957
    Building materials
    Brick

    We can help!

    Listing Contact
    Wencong Hu

    Listing agent Wencong Hu

    Listing office E Realty International Corp 3907 Prince St Ste 4D, Flushing, NY

    Listing date Mar 26, 2026

    MLS# 976956

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the heart of Downtown Flushing, next to the Flushing Library.
    • High visibility corner building with strong pedestrian traffic.
    • Approximately 3,300 SF of flexible commercial space suitable for various uses.
    • Excellent accessibility to the 7 subway line, Flushing LIRR station, and multiple bus routes.
    • Energy Star qualified heating and cooling equipment.
    • Available immediately with negotiable lease terms.

    Overview

    This commercial space offers approximately 3,300 square feet on the second floor of a corner building in Downtown Flushing. The property is located next to the Flushing Library, in a busy commercial district in Queens. The space provides layout flexibility and is suitable for retail, showroom, service businesses, medical, office, educational, or professional use. Positioned along a high foot-traffic corridor, the property benefits from pedestrian flow and surrounding retail activity. The location is accessible, steps from the 7 subway line, Flushing LIRR station, and multiple bus routes. The lot size is 0.0758 acres. The zoning is C4-3. Lease terms are negotiable and the space is available immediately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    nf billiards coffee ... Family Recreation Center

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.832035
    Latitude
    40.76193

    Nearby Similar for Lease

    • $2,900/Mo

      Flushing Office Space for Lease

      Spacious 1,500 sq. ft. office in Downtown Flushing.
      3338 Farrington Street, Flushing, NY 11354
      View Details
    • $4,800/Mo

      Flushing Mixed-Use Building For Rent

      Prime mixed-use building in Flushing, near transportation and amenities.
      135-20 41ST Avenue, Flushing, NY 11354
      View Details
    • $1,800/Mo

      Flushing Commercial Space For Rent

      Commercial space in high-traffic Flushing location, suitable for various businesses.
      15302 northern Boulevard, Flushing, NY 11354
      View Details
    • $52 SF/Yr

      Flushing Community Facility Office Space

      Brand-new community facility office space for lease in Flushing, NY.
      147-12 Roosevelt Ave, Flushing, NY 11354
      View Details
    • $6,300/Mo

      Flushing Retail Space with Parking

      New construction retail space in prime Flushing location with parking.
      4308 162st, Flushing, NY 11358
      View Details
    • $10,000/Mo

      Flushing Office Condominium For Lease

      Turnkey 1,630 SF office condo in vibrant Flushing location.
      38-25 Main Street, Flushing, NY 11354
      View Details
    • $22,300 SF/Yr

      Flushing Restaurant Business Opportunity

      Established restaurant business for rent on Prince Street in Flushing.
      Prince Street, Flushing, NY 11354
      View Details
    • $6,000/Mo

      Flushing Community Facility Office Space

      Community facility office space for lease in Flushing, NY.
      147-12 Roosevelt Ave, Flushing, NY 11354
      View Details
    • $16,000/Mo

      Flushing High-Traffic Commercial Corridor

      Prime Flushing location with flexible use options.
      4614 Kissena Boulevard, Flushing, NY 11355
      View Details
    • $4,000/Mo

      Flushing Office Space on Main

      Prime office space in the heart of Downtown Flushing.
      36-42 Main Street, Flushing, NY 11354
      View Details
    • $15,000/Mo

      Flushing Retail Space For Lease

      Prime commercial space in Downtown Flushing with high foot traffic.
      136-18 Maple Avenue, Flushing, NY 11355
      View Details
    • $10,000/Mo

      Flushing Retail/Medical Space for Lease

      Prime retail space in Flushing, ideal for medical or wellness businesses.
      133-24 41ST Road, Flushing, NY 11355
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime commercial space in the heart of Downtown Flushing.
    Where is this retail space located?
    The property is located at 40-33 Main Street Flushing, NY.
    What is the lease rate?
    The lease rate is $19,800 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of Downtown Flushing, next to the Flushing Library.; High visibility corner building with strong pedestrian traffic.; Approximately 3,300 SF of flexible commercial space suitable for various uses.
    (718) 704-3707
    We can help!
    Listing Contact
    Wencong Hu
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    40-33 Main Street, Flushing, NY 11354
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!