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5408 Flushing Avenue, Maspeth, NY, 11378 | $1,800,000
**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
Features
- Property Type: Multi Family
- Construction: Brick
- Utilities: Electricity Available, Natural Gas Connected, Phone Available, Trash Collection Public, Water Available, Water Connected
- Parking: Off Site
- Heating: Oil
- Cooling: Separate Meters, Wall/Window Unit(s)
- Units: 8
- Year Built: 1915
- Acreage: 0.06
- Est. Taxes: $14,069
- MLS#: 936315
- Days on Market: 2 days
- Website: https://www.raveis.com
/prop/936315/5408flushingavenue_maspeth_ny?source=qrflyer
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Ryan FortierInsurance Sales Director, William Raveis Insurance
516.739.7731
Ryan.Fortier@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
5408 Flushing Avenue, Maspeth, NY, 11378
$1,800,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,440,000 | $1,440,000 | $1,440,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 4.875% | 5.750% | 5.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.001% | 5.858% | 5.681% |
| Monthly Tax Payment | $1,172 | $1,172 | $1,172 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,621 | $8,403 | $11,766 |
| Total Monthly Payment | $8,918 | $9,700 | $13,063 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535