Mixed-Use Building with
For Sale
$2,168,000
42-19 162nd Street, Flushing, NY 11358
Separate utility meters serve the commercial and residential portions of the property.
Property Size3,600 SF
Price / SF$602.22
Days on Market445
Property Features for 42-19 162nd Street
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
2
Property subtype
Commercial
Occupancy
100%
Site & Location
Public Transit
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
1 x 4BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,850
Building Details
Building Size
3,600 SF
Year Built
1930
Buildings
1
Stories
3
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Carol J. Jia
(718) 517-1866
Source:
Croninreale
Added: Aug 5, 2025
Changed: Oct 23
Last Checked: Oct 23 at 3:55PM
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 E Realty International Corp
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Investment Insights
Based on property information with market context.
Built in 1930, this three-story mixed-use building has a ground-floor storefront, two residential apartments, and a finished basement. The second-floor apartment has four bedrooms and one bathroom; the third-floor unit has three bedrooms and one bathroom. Basement space accommodates storage and the boiler room, while a garage provides parking for two vehicles. The property has separate utility meters and may be delivered occupied or vacant.
At 42-19 162nd Street in Flushing, the building is one block from Northern Boulevard and a five-minute walk from the Long Island Rail Road station at 163rd Street and Northern Boulevard. Bus service includes the Q12, Q13, Q26, Q27, Q28, Q65, N20G, and N20X routes. Nearby services include restaurants, supermarkets, pharmacies, banks, and a post office.
At 42-19 162nd Street in Flushing, the building is one block from Northern Boulevard and a five-minute walk from the Long Island Rail Road station at 163rd Street and Northern Boulevard. Bus service includes the Q12, Q13, Q26, Q27, Q28, Q65, N20G, and N20X routes. Nearby services include restaurants, supermarkets, pharmacies, banks, and a post office.
Key Highlights
- Ground‑floor commercial storefront with two residential apartments above
- Three above‑ground stories and a finished basement
- Second‑floor apartment: 4 bedrooms and 1 bathroom; third‑floor apartment: 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,260
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,285,200
$1.3M
Cap Rate 7%
$918,000
$918.0K
Cap Rate 9%
$714,000
$714.0K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$108.0K $30.00/SF
− Vacancy
−$16.2K −$4.50/SF
EGI
$91.8K $25.50/SF
− OpEx
−$27.5K −$7.65/SF
NOI
$64.3K $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 Rate 5%
$1,285,200
Cap Rate 7%
$918,000
Cap Rate 9%
$714,000
Alternative Uses
Best Use
Retail
$918.0K
$803.3K – $1.07M
NOI $64,260 @ 7.0% cap · market cap 2.96%
Second Best
Mixed Use
$661.9K
$579.2K – $772.2K
NOI $46,332 @ 7.0% cap · market cap 2.14%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citibank
Shops & Services
5,584 visits/mo
0.3 miles
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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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate utility meters serve the commercial and residential portions of the property.
Where is this mixed-use property located?
The property is located at 42-19 162nd Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,168,000.
What are key features of this property?
This property features: Ground‑floor commercial storefront with two residential apartments above; Three above‑ground stories and a finished basement; Second‑floor apartment: 4 bedrooms and 1 bathroom; third‑floor apartment: 3 bedrooms and 1 bathroom
