Mixed-Use Building with
552 GRANDVIEW AVE Flushing, NY 11385
552 GRANDVIEW AVE, Flushing, NY, 11385
$2,200,000
For Sale
$2,200,000
Ground-floor bar space with a stage and pool table area, plus two residential apartments above.
Property Size3,875 SF
Price / SF$567.74
Days on Market105
Property Features for 552 GRANDVIEW AVE
General Information
- Standard status
- Active
- Size
- 3,875 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1930
Listing agency
Crifasi Real Estate Inc
(718) 930-0040
Listed by
Joseph Crifasi
(718) 930-0040
Source
Xome
Added: Apr 9 Updated: Jul 21 at 8:19PM Checked: Jul 21 at 8:19PM
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 Crifasi Real Estate Inc
Investment Insights
Based on property information with market context.
Well-maintained mixed-use property featuring a spacious ground-floor commercial unit currently operating as a neighborhood bar. The layout includes a large main area with a pool table section and a separate rear room with a stage. A full basement and gas heat support the building’s overall operation.
The second floor consists of two residential apartments. Apt. 2A includes an eat-in kitchen, living room, two bedrooms, and a full bath, and is currently rented with a lease expiring 8/31. Apt. 2B will be vacant on title and includes an eat-in kitchen, living room, three bedrooms, and one full bathroom.
The commercial lease ends on 3/31/2031. Under the lease, the tenant pays 77% of property taxes, 61% of water charges, and heat expenses; both residential tenants pay their own heat.
The second floor consists of two residential apartments. Apt. 2A includes an eat-in kitchen, living room, two bedrooms, and a full bath, and is currently rented with a lease expiring 8/31. Apt. 2B will be vacant on title and includes an eat-in kitchen, living room, three bedrooms, and one full bathroom.
The commercial lease ends on 3/31/2031. Under the lease, the tenant pays 77% of property taxes, 61% of water charges, and heat expenses; both residential tenants pay their own heat.
Key Highlights
- Mixed‑use property (year built 1930) with ground‑floor commercial space plus two residential apartments on the 2nd floor
- Commercial unit currently operating as a neighborhood bar with a large main area, pool table area, and separate rear room with stage
- Commercial rent is $6,523/month with 3% increases each April 1; lease ends 3/31/2031
Local Financial Insights For Specialty Retail
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 | $255.8k | $66.00 |
| − Vacancy | −$16.6k | −$4.29 |
| EGI | $239.1k | $61.71 |
| − OpEx | −$59.8k | −$15.43 |
| NOI | $179.3k | $46.28 |
3,875 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.56M
$2.24M – $2.99M
NOI $179,345 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,722 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,969 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Herbal Life
Grocery & Convenience Store
Similar For Sale Nearby
Similar Off Market Nearby
- Lou’s Athletic Club — 384 Knickerbocker Ave, Brooklyn, NY 11237
- Protein Bar — 261 Bleecker St, Brooklyn, NY 11237
- The Oaisis @ 368 — 368 Knickerbocker Ave, Brooklyn, NY 11237
- Cvl Nutrition — 408 Knickerbocker Ave, Brooklyn, NY 11237
- Little G Cantina — 245 Harman St, Brooklyn, NY 11237
FAQs
What type of property is this?
Bar & Pub - Ground-floor bar space with a stage and pool table area, plus two residential apartments above.
Where is this bar & pub located?
The property is located at 552 GRANDVIEW AVE Flushing, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Mixed‑use property (year built 1930) with ground‑floor commercial space plus two residential apartments on the 2nd floor; Commercial unit currently operating as a neighborhood bar with a large main area, pool table area, and separate rear room with stage; Commercial rent is $6,523/month with 3% increases each April 1; lease ends 3/31/2031
