5408 Flushing Ave, Maspeth, NY

Name: 5408 Flushing Ave, For Sale in Maspeth - Zoocasa
Brand: Douglas Elliman Real Estate
SKU: 936315
Price: 1800000 USD

Real Estate

For Sale

Listed price in listed location currency (USD).

$1,800,000

000

MLS® 936315

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage No

Maintenance Fees

Taxes $14,069

Days Active 3

Approx. Age 1915

MLS® Number 936315

Property Address: 5408 Flushing Ave, Maspeth, NY, 11378-3000

Average square foot calculated using Size range provided by listing agent.

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

MLS® Number936315

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1915

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

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Heat

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Extras

Similar Listings

Price History

-End Date

Not Sold YetSold Price

For Sale

Dec 13, 2025List Date

$1,800,000List Price

Commute

Commute

Starting Address

Destination Address

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