5408 Flushing Avenue, Maspeth, NY 11378

• 5,832 sqft

Property Description

**Mixed-Use Investment Opportunity – Maspeth, Queens** Located at **54-08 Flushing Avenue, Maspeth, NY 11378**, this well-maintained mixed-use property presents a compelling investment opportunity in a highly desirable Queens neighborhood. Maspeth is strategically positioned approximately **five miles from Manhattan** and directly east of the sought-after **Williamsburg section of Brooklyn**, benefiting from strong demand and convenient access to surrounding markets. The property sits on **Flushing Avenue**, a busy and valuable commercial corridor featuring retail shopping, banks, popular restaurants, and excellent access to **public transportation**. The immediate area continues to see new development, further enhancing long-term value. Property Overview * **Building Type:** Three-story brick, walk-up mixed-use building * **Total Square Footage:** Approximately **5,835 SF** * **Occupancy:** **100% occupied** * **Residential Units:** **6 apartments** * Two (1) bedroom units – approx. **680 SF** each * Four (3) bedroom units – approx. **1,000 SF** each * **Commercial Units:** **2 retail stores** (currently a pizza restaurant and a bakery) * **Basement:** Fully open basement with **8-foot ceiling height** Lease & Income Profile * Commercial units are fully leased with **leases expiring soon**, offering near-term upside * Residential apartments are **month-to-month**, providing flexibility for repositioning * Property **can be delivered vacant**, if desired Building Condition * **New roof and new boiler** * **New plumbing and updated electrical systems** * **No known violations** * **Above-ground oil tanks** Financial Highlights * **Actual Gross Income:** $138,000 * **Net Operating Income (NOI):** $115,150 * **Cap Rate:** Approximately **6.4%** Investment Highlights * Prime mixed-use asset in a strong Queens location * Stable in-place income with upside through lease renewals or repositioning * Proximity to Manhattan and Williamsburg * Well-maintained building with recent capital improvements * Strong demand for both residential and retail space in the area --- **Address:** 54-08 Flushing Avenue, Maspeth, NY 11378 **Neighborhood:** Maspeth / Fresh Pond Section of Queens

Listing Status:

Active

Listing Office:

Douglas Elliman Real Estate : 718-884-5815

MLS ID:

936315

Interior

• Basement: CommonFinishedFullWalk-Out Access
• A/C: Separate MetersWall/Window Unit(s)
• Heating: Oil

Exterior

• Parking: Off Site

Location

• Originating MLS: onekey2
• County: Queens

Lot

• Zoning: 02635-0003

Utilities

• Utilities: Electricity AvailableNatural Gas ConnectedPhone AvailableTrash Collection PublicWater AvailableWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2

This listing courtesy of Douglas Elliman Real Estate