5-46 50th Avenue, Queens, NY 11101

This mixed-use building is configured as a 25-foot-wide structure totaling approximately 5,190 square feet, situated on a 2,500-square-foot lot. The ground floor is set up for retail use and includes a rear artist studio, while four residential units are located above. The residential apartments are fully free-market and currently vacant, allowing for leasing without regulatory restrictions. The building is described as Class S3. Based on the provided figures, the property currently generates in-place gross revenue of $326,724 with $39,167 in expenses, resulting in in-place net operating income of $287,557. The pro forma totals $342,320 in gross revenue and $303,160 in net operating income, reflecting an approximately 5.5% pro forma capitalization rate.

The property is located at 5-46 50th Avenue in Queens, within an M1-4 / R6B zoning district. The listing notes the asset’s proximity to Vernon Boulevard and the East River waterfront, with access to transportation and nearby neighborhood amenities.

For owners and operators seeking a mixed-use profile, the combination of retail space at street level and an all-vacant residential component supports a practical leasing-and-stabilization approach. The current setup provides ongoing income from the commercial portion while giving flexibility to establish the residential revenue outlook under the existing free-market unit structure, subject to customary approvals for any long-term strategy.