Long Island City Mixed-Use
5-46 50th Ave, Long Island City, NY 11101
Mixed-use property with retail and residential income potential.
Type:Retail, Mixed Use
Property size:
5,190 SFLot size:
0.06 AcresPrice / SF:
$1,059/SF- Added:
- Mar 6, 2026
- Days on Market:
- 71
- Last Refresh:
- Mar 16 at 2:59 pm
Property Features for 5-46 50th Ave
General Information
- Standard status
- Active
- Size
- 5,190 SF
- Lot size
- 0.06 Acres
- Property subtype
- Retail, Mixed Use
Listing agent Ergin Ahmetaj License #10401353531
Listing date Mar 6, 2026
Source Crexi
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 Ergin Ahmetaj
HighLights
- High In‑Place Net Operating Income: Property generates a substantial $287,557, offering immediate returns.
- Significant Residential Upside: Four vacant units present an opportunity to lease at market rates.
- Prime Location: Situated in a desirable area of Long Island City, near Vernon Boulevard and the East River waterfront.
- Mixed‑Use Zoning with Strategic Flexibility: M1‑4/R6B zoning allows for continued mixed‑use occupancy and offers long‑term redevelopment potential.
- Stable Retail Income: Ground‑floor retail provides predictable cash flow.
- Strong Submarket Fundamentals: Long Island City benefits from proximity to Midtown Manhattan.
Overview
This mixed-use property is located in Long Island City, near Vernon Boulevard and the East River waterfront. The building spans approximately 5,190 square feet on a 2,500-square-foot lot. The property is configured as a 25-foot-wide building consisting of a ground-floor retail space, a rear artist studio, and four free-market residential apartments above. The property generates in-place gross revenue of $326,724, with expenses of $39,167, resulting in an in-place net operating income of $287,557. Upon stabilization of the residential units to market levels, the pro forma gross revenue is $342,320, with a pro forma net operating income of $303,160, supporting a pro forma capitalization rate of approximately 5.5%. The four residential units are fully free-market and currently vacant, presenting an opportunity to lease at prevailing market rents. The property is located within an M1-4 / R6B zoning district, supporting continued mixed-use occupancy and offering strategic long-term flexibility. Investors may consider multiple strategies, including holding and stabilizing for durable cash flow, incrementally enhancing residential revenue, repositioning the commercial component upon lease expiration, and evaluating longer-term redevelopment potential. The retail corridors along Vernon Boulevard have demonstrated resilience due to consistent pedestrian traffic, growing residential density, and limited available frontage.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
LEDO - The Art Of The Barber
Barber Shop
Location Insight
- Map
- Local Demand
- City
- Long Island City
- County
- Queens
- State
- New York
- Longitude
- -73.957123
- Latitude
- 40.743663
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail and residential income potential.
Where is this mixed-use property located?
The property is located at 5-46 50th Ave Long Island City, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: High In‑Place Net Operating Income: Property generates a substantial $287,557, offering immediate returns.; Significant Residential Upside: Four vacant units present an opportunity to lease at market rates.; Prime Location: Situated in a desirable area of Long Island City, near Vernon Boulevard and the East River waterfront.
