Mixed-Use Building with
For Sale
$2,498,800
42-32 162nd Street, Flushing, NY 11358
The lower level combines commercial space and a basement, with residences on the two floors above.
Property Size5,028 SF
Price / SF$496.98
Days on Market37
Property Features for 42-32 162nd Street
General Information
Standard status
Active
Size
5,028 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
R5B
Occupancy
100%
Site & Location
Public Transit
Yes
Mixed-Use Components
retail, residential
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$12,220
Building Details
Building Size
5,028 SF
Year Built
2008
Buildings
1
Stories
3
Units
3
Listing Agency:
RE/MAX 1st Choice
(516) 888-6000
Listed By:
Yan Lin · License #10301218694
(646) 291-7830
Source:
Croninreale
Added: Sep 18
Changed: Oct 23
Last Checked: Oct 23 at 5:53PM
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 RE/MAX 1st Choice
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Investment Insights
Based on property information with market context.
Completed in 2008, this 5,028-square-foot mixed-use property pairs ground-floor commercial space and a basement with residences on the second and third floors. Each residence has three bedrooms and two full bathrooms. The building measures approximately 19 feet by 76 feet and is zoned R5B.
The commercial and residential spaces are occupied, with tenants paying their own electricity and heat. The property is on 162nd Street in Flushing, in a commercial area with shops, restaurants, businesses, and neighborhood amenities. Public transportation is accessible nearby.
The commercial and residential spaces are occupied, with tenants paying their own electricity and heat. The property is on 162nd Street in Flushing, in a commercial area with shops, restaurants, businesses, and neighborhood amenities. Public transportation is accessible nearby.
Key Highlights
- 5,028 square feet; built in 2008
- Commercial space and basement on the lower level
- Second- and third‑floor residences each have 3 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,907
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,458,140
$2.5M
Cap Rate 7%
$1,755,814
$1.8M
Cap Rate 9%
$1,365,633
$1.4M
Market Conditions
NOI Build-Up for 5,028 SF
Gross rent
$232.3K $46.20/SF
− Vacancy
−$8.8K −$1.76/SF
EGI
$223.5K $44.44/SF
− OpEx
−$100.6K −$20.00/SF
NOI
$122.9K $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 Rate 5%
$2,458,140
Cap Rate 7%
$1,755,814
Cap Rate 9%
$1,365,633
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $122,907 @ 7.0% cap · market cap 4.92%
Second Best
Retail
$1.28M
$1.12M – $1.50M
NOI $89,750 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$3.71M
$3.24M – $4.32M
NOI $259,469 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The lower level combines commercial space and a basement, with residences on the two floors above.
Where is this mixed-use property located?
The property is located at 42-32 162nd Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,498,800.
What are key features of this property?
This property features: 5,028 square feet; built in 2008; Commercial space and basement on the lower level; Second- and third‑floor residences each have 3 bedrooms and 2 full bathrooms
