Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Building in Little Neck Title is generated by Realmo AI

    46-21 Little Neck Parkway, Little Neck, NY 11362

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,800,000

    Two-story mixed-use building with basement, suitable for investment.

    Type:Commercial/Industrial
    Property size:
    4,669 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $599/SF
    Added:
    Mar 12, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 6 at 3:50 am

    Property Features for 46-21 Little Neck Parkway

    General Information

    Standard status
    Active
    Size
    4,669 SF
    Lot size
    0.11 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Xue Q. Gao

    Listing agent Xue Q. Gao License #10311204252

    Listing office Canaan Realty International

    Listing date Mar 12, 2026

    Source Exitrealty

    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 Canaan Realty International

    HighLights

    • Mixed‑use commercial building - ideal for investment or owner occupancy
    • Total of 4669 sq ft providing ample space
    • Includes a finished basement
    • Features both office space and residential apartments (1‑bedroom and 3‑bedroom)
    • Located on a lot size of 50.83x91.85
    • Constructed in 1987

    Overview

    This is a two-story mixed-use commercial building with a basement, suitable for investment or owner use. The lot size is 50.83 x 91.85 feet, with a total area of 4669 square feet. The building size is 32 x 78 feet. The basement is finished. The first floor is configured as office space. The second floor includes a one-bedroom apartment at the front and a three-bedroom apartment at the rear. The property is located in Little Neck.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $1.71M
    NOI $153,721 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.20M
    NOI $153,721 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.07M
    NOI $153,721 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $235.3k $50.40
    − Vacancy −$30.4k −$6.50
    EGI $205.0k $43.90
    − OpEx −$51.2k −$10.97
    NOI $153.7k $32.92
    4,669 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $2.20M
    $1.92M – $2.56M (±1% cap)
    NOI $153,721 @ 7.0% cap · market cap 5.49%
    Second Best
    Apartment 5plus
    $1.63M
    $1.43M – $1.90M (±1% cap)
    NOI $114,131 @ 7.0% cap · market cap 4.08%
    Theoretical Best
    Office A
    $3.44M
    $3.01M – $4.02M (±1% cap)
    NOI $240,943 @ 7.0% cap · market cap 8.61%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Neck
    County
    Queens
    State
    New York
    Longitude
    -73.744
    Latitude
    40.777

    Nearby Similar for Sale

    • $3,200,000
      3,500 SF

      Renovated Community Facility with Parking

      Elegant, renovated community facility with parking in Little Neck, NY.
      47-33 Little Neck Pkwy Community Facility House of Worship, Little Neck, NY 11362
      View Details
    • $2,080,000
      2,824 SF

      Two-Family Home in Little Neck

      Legal two-family home in a desirable Queens neighborhood.
      24571 61st Avenue, Little Neck, NY 11362
      View Details
    • $1,380,000

      Little Neck Two-Family Home

      Well-maintained two-family home on oversized corner lot in Little Neck.
      5854 256th Street, Little Neck, NY 11362
      View Details
    • $1,249,000

      Two-Family Condo in Little Neck

      Two-family condo with finished basement in prime Queens location.
      24021 68th Avenue, Little Neck, NY 11362
      View Details
    • $998,888

      Little Neck Two-Family Home

      Two-family home in Little Neck, excellent condition, near LIRR.
      37-20 Brookside Street, Little Neck, NY 11363
      View Details
    • $1,999,000

      Renovated Multifamily Property in Little Neck

      Meticulously renovated multifamily property in a desirable Little Neck location.
      4320 Hamilton Place, Little Neck, NY 11363
      View Details
    • $1,200,000
      1,978 SF

      Littleneck Multi-Family House For Sale

      Two-family house in Littleneck, Queens, near LIRR.
      37-06 Brookside St, Littleneck, NY 11363
      View Details
    • $1,499,888

      Charming Two-Family Home, Little Neck

      Legal two-family home in Little Neck with excellent amenities.
      57-10 253rd Street, Little Neck, NY 11362
      View Details
    • $1,588,000
      2,444 SF

      Little Neck Two-Family Home

      Well-maintained two-family home in Douglaston neighborhood of Queens.
      243-60 72ND Avenue, Little Neck, NY 11362
      View Details
    • $6,000,000
      7,600 SF

      Restaurant and Parking in Little Neck

      Restaurant, parking lot, and single-family home in Queens.
      251-15 Northern Boulevard 44-14 Jessie Court, Little Neck, NY 11362
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-story mixed-use building with basement, suitable for investment.
    Where is this mixed-use property located?
    The property is located at 46-21 Little Neck Parkway Little Neck, NY.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: Mixed‑use commercial building - ideal for investment or owner occupancy; Total of 4669 sq ft providing ample space; Includes a finished basement
    (718) 445-6789
    We can help!
    Listing Contact
    Xue Q. Gao
    Real Estate License ID: 10311204252
    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
    46-21 Little Neck Parkway, Little Neck, NY 11362
    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!