Flushing Retail and Office
For Sale
$5,850,000
45-16 162ND Street, Flushing, NY 11358
SINGLE_FAMILY - Flushing, NY
Property Size12,000 SF
Lot Size0.14 Acres
Price / SF$487.50
Days on Market139
Property Features for 45-16 162ND Street
General Information
Property type
Residential
Property subtype
Retail
Rooms
Basement
Standard status
Active
APN
05440-0048
Size
12,000 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
103217
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Meiyu Li
(718) 666-5751
Added: Mar 27
Changed: May 19
Last Checked: Aug 12 at 6:06AM
MLS# 977252
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.
Investment Insights
Based on property information with market context.
This fully commercial building in the heart of Flushing presents a rare opportunity for investors and owner-users. Renovated in 2006, the brick building features large, street-facing windows that provide high visibility and exposure to significant foot traffic near Northern Boulevard. Convenient access to public transportation is available, with proximity to the Q12, Q13, Q26, Q27, and Q28 bus lines. The building has high ceilings and open space, along with a clean and bright 800 square foot basement that includes large windows. The lot size is approximately 6,000 square feet, while the building size is approximately 12,000 square feet. The first floor contains 2 retail stores, and the second floor offers 4 office units. Located approximately 4 blocks from Northern Boulevard and approximately 5 blocks from the LIRR station, the property offers strong income potential and future appreciation.
Key Highlights
- Prime retail location in the heart of Flushing with high foot traffic and exposure.
- Large building size of approximately 12,000 SF on a 6,000 SF lot.
- Fully commercial building renovated in 2006.
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
$214,200
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
3.66%
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%
$4,284,000
$4.3M
Cap Rate 7%
$3,060,000
$3.1M
Cap Rate 9%
$2,380,000
$2.4M
Market Conditions
NOI Build-Up for 12,000 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
$360.0K $30.00/SF
− Vacancy
−$54.0K −$4.50/SF
EGI
$306.0K $25.50/SF
− OpEx
−$91.8K −$7.65/SF
NOI
$214.2K $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 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%
$4,284,000
Cap Rate 7%
$3,060,000
Cap Rate 9%
$2,380,000
Alternative Uses
Best Use
Retail
$3.06M
$2.68M – $3.57M
NOI $214,200 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.85M
$7.74M – $10.32M
NOI $619,258 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,335
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 10%
Electronics 4%
7-Eleven
Shops & Services
17,042 visits/mo
0.1 miles
Sunoco
Shops & Services
9,107 visits/mo
0.4 miles
Dunkin' Donuts
Dining
3,201 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
1,675 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
1,294 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Prime commercial building in Flushing with retail and office spaces.
Where is this retail space located?
The property is located at 45-16 162ND Street Flushing, NY.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: Prime retail location in the heart of Flushing with high foot traffic and exposure.; Large building size of approximately 12,000 SF on a 6,000 SF lot.; Fully commercial building renovated in 2006.
