Ground-Floor Retail/Office
4613 188th Street New York, NY 11358
4613 188th Street, New York, NY, 11358
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For Sale
Contact for pricing
Ground-floor unit with a flexible layout for retail, professional office, or medical use.
Property Size980 SF
Price / SF$1,008
Days on Market127
Property Features for 4613 188th Street
General Information
- Standard status
- Active
- Size
- 980 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1932
Listing agency
Ashford Homes 6 Inc
(917) 667-9092
Listed by
Fei Lai Yan · License #973135
Source
Crexi
Added: Mar 17 Updated: Jul 21 at 8:02AM Checked: Jul 21 at 8:02AM
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 Ashford Homes 6 Inc
Investment Insights
Based on property information with market context.
Available for sale at 4613 188th Street, this ground-floor commercial space is designed with flexibility in mind. The unit is described as approximately 980 square feet and is suitable for a range of uses, including retail, professional office, or medical, with an arrangement intended to support multiple business formats.
The property is positioned in Fresh Meadows within a well-established residential neighborhood and is noted for strong visibility and consistent foot and vehicle traffic. Access is supported by proximity to major thoroughfares, including Union Turnpike and Utopia Parkway, along with nearby public transportation connections and surrounding retail corridors. The area is described as a mix of national retailers, local businesses, and established residential housing, supporting service-oriented and neighborhood retail use over the long term.
The property is positioned in Fresh Meadows within a well-established residential neighborhood and is noted for strong visibility and consistent foot and vehicle traffic. Access is supported by proximity to major thoroughfares, including Union Turnpike and Utopia Parkway, along with nearby public transportation connections and surrounding retail corridors. The area is described as a mix of national retailers, local businesses, and established residential housing, supporting service-oriented and neighborhood retail use over the long term.
Key Highlights
- Approximately 980 SF ground‑floor commercial space available for lease
- Flexible layout suitable for retail, professional office, or medical use
- Year built: 1932
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.5k | $51.48 |
| − Vacancy | −$9.5k | −$9.73 |
| EGI | $40.9k | $41.75 |
| − OpEx | −$10.2k | −$10.44 |
| NOI | $30.7k | $31.31 |
980 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Retail
$1.97M
$1.72M – $2.30M
NOI $137,910 @ 7.0% cap · market cap 13.96%
Second Best
Office B
$438.4K
$383.6K – $511.4K
NOI $30,686 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$2.44M
$2.13M – $2.85M
NOI $170,755 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Storefront property - Ground-floor unit with a flexible layout for retail, professional office, or medical use.
Where is this storefront property located?
The property is located at 4613 188th Street New York, NY.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Approximately 980 SF ground‑floor commercial space available for lease; Flexible layout suitable for retail, professional office, or medical use; Year built: 1932
