Mixed-Use Building with Four
New
For Sale
$2,550,000
43-07 162nd Street, Flushing, NY 11358
Brick property pairs street-level commercial space with residential units and off-street parking.
Property Size6,720 SF
Days on Market3
Property Features for 43-07 162nd Street
General Information
Standard status
Active
Size
6,720 SF
Total Parking Spaces
3
Elevators
Yes
Property subtype
Quadruplex
Zoning
R5B/C2-2
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$64,860
Building Details
Building Size
6,720 SF
Year Built
2005
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
RE/MAX 1st Choice
Listed By:
Po Wei Tair · License #7.51E+13
(917) 406-6026
Source:
Barbieliteam
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 3 at 2:10AM
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
Investment Insights
Based on property information with market context.
Built in 2005, this brick mixed-use property combines a 1,680-square-foot ground-floor commercial area with four apartments on the upper floors. The commercial space has a street entrance and elevator access and was previously leased to a music school. Residential units range from one to three bedrooms and feature granite countertops, hardwood and tile flooring, and a formal entry foyer. A finished basement provides additional space with street-level and elevator access. The building is equipped with central air, gas heat, and four separate electric meters, along with three off-street parking spaces.
The property is located on 162nd Street in Flushing’s Murray Hill section, near the Broadway LIRR station, Northern Boulevard bus service, and 162nd Street retail. R5B zoning with a C2-2 commercial overlay supports the mixed-use configuration described for the property.
The property is located on 162nd Street in Flushing’s Murray Hill section, near the Broadway LIRR station, Northern Boulevard bus service, and 162nd Street retail. R5B zoning with a C2-2 commercial overlay supports the mixed-use configuration described for the property.
Key Highlights
- 1,680‑square‑foot ground‑floor commercial area with street‑level entrance and elevator access
- Four apartments ranging from one to three bedrooms
- R5B zoning with C2‑2 commercial overlay
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
$164,267
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
6.44%
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%
$3,285,340
$3.3M
Cap Rate 7%
$2,346,671
$2.3M
Cap Rate 9%
$1,825,189
$1.8M
Market Conditions
NOI Build-Up for 6,720 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
$310.5K $46.20/SF
− Vacancy
−$11.8K −$1.76/SF
EGI
$298.7K $44.44/SF
− OpEx
−$134.4K −$20.00/SF
NOI
$164.3K $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 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%
$3,285,340
Cap Rate 7%
$2,346,671
Cap Rate 9%
$1,825,189
Alternative Uses
Best Use
Apartment 5plus
$2.35M
$2.05M – $2.74M
NOI $164,267 @ 7.0% cap · market cap 6.44%
Second Best
Multifamily LT 5
$1.59M
$1.39M – $1.85M
NOI $111,227 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,784 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
401
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property pairs street-level commercial space with residential units and off-street parking.
Where is this mixed-use property located?
The property is located at 43-07 162nd Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 1,680‑square‑foot ground‑floor commercial area with street‑level entrance and elevator access; Four apartments ranging from one to three bedrooms; R5B zoning with C2‑2 commercial overlay
