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81-38 Baxter Ave 4,032 SF 100% Leased Retail Building Flushing, NY 11373 $2,150,000 ($533.23/SF) 8.89% Cap Rate
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 8.89 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!!
- The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!!
- Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald’s, Chick-fil-A, Wendy’s, +++!!!
- The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8’ Ceilings, (5) 1 Br. Apartments, Basement, Large Rear Yard, +++!!!
- The Property Has 20’ Of Frontage On Baxter Avenue!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 8.89 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8’ Ceilings, 2 Stores, (5) 1 Br. Apartments, Basement, 6 Parking Spaces, Separate Meters, Large Rear Yard, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!! The Property Has 20’ Of Frontage On Baxter Avenue!!! Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald’s, Chick-fil-A, Wendy’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Jeweler: $54,000 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far.
Hair Salon: $42,000 Ann.; 3 Year Lease.
Apt. A (1 Br.): $24,000 Ann.
Apt. B (1 Br.): $24,000 Ann.
Apt. C (1 Br.): $24,000 Ann.
Apt. D (1 Br.): $24,600 Ann.
Apt. E (1 Br.): $24,000 Ann.
Tax Rebate (Paid By The Store): $18,500 Ann.
Gross Income: $235,100 Ann.
Expenses:
Gas: $0 Ann.
Electric: $720 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,000 Ann
Insurance: $3,423 Ann.
Taxes: $37,676.20 Ann.
Total Expenses: $44,069.20 Ann.
Net Operating Income (NOI): $191,030.80 Ann. (8.89% Cap!!!)
Income:
Jeweler: $54,000 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far.
Hair Salon: $42,000 Ann.; 3 Year Lease.
Apt. A (1 Br.): $24,000 Ann.
Apt. B (1 Br.): $24,000 Ann.
Apt. C (1 Br.): $24,000 Ann.
Apt. D (1 Br.): $24,600 Ann.
Apt. E (1 Br.): $24,000 Ann.
Tax Rebate (Paid By The Store): $18,500 Ann.
Gross Income: $235,100 Ann.
Expenses:
Gas: $0 Ann.
Electric: $720 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,000 Ann
Insurance: $3,423 Ann.
Taxes: $37,676.20 Ann.
Total Expenses: $44,069.20 Ann.
Net Operating Income (NOI): $191,030.80 Ann. (8.89% Cap!!!)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$235,100
|
$58.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$235,100
|
$58.31
|
| Taxes |
$37,676
|
$9.34
|
| Operating Expenses |
$6,393
|
$1.59
|
| Total Expenses |
$44,069
|
$10.93
|
| Net Operating Income |
$191,031
|
$47.38
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $235,100 |
| Annual Per SF | $58.31 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $235,100 |
| Annual Per SF | $58.31 |
| Taxes | |
|---|---|
| Annual | $37,676 |
| Annual Per SF | $9.34 |
| Operating Expenses | |
|---|---|
| Annual | $6,393 |
| Annual Per SF | $1.59 |
| Total Expenses | |
|---|---|
| Annual | $44,069 |
| Annual Per SF | $10.93 |
| Net Operating Income | |
|---|---|
| Annual | $191,031 |
| Annual Per SF | $47.38 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,032 SF
Building Class
C
Year Built
1917
Price
$2,150,000
Price Per SF
$533.23
Cap Rate
8.89%
NOI
$191,030
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.85
Lot Size
0.05 AC
Zoning
R7B/C1-3
Parking
6 Spaces (1.49 Spaces per 1,000 SF Leased)
Frontage
20’ on Baxter Ave.
Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
Located across from Elmhurst Hospital in Queens, NY, Budget Pawn Brokers, Inc. is a family-owned business since 1943. We specialize in buying and selling only the finest quality gold, silver, jewelry, watches, and precious gems. Here, you will find warm, personalized, honest service and the best deals on a loan. Our customers are always satisfied with the business and immediately comfortable in our clean, elegant interior. We are open 6 days a week, by walk-in or appointment.
- Scape Beauty Salon
- Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - | ||
| Scape Beauty Salon | Services | - | - | - |
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (77)
Nearby Major Retailers
Property Taxes
| Parcel Number | 01506-0007 | Total Assessment | $347,310 |
| Land Assessment | $61,200 | Annual Taxes | $37,676 ($9.34/SF) |
| Improvements Assessment | $286,110 | Tax Year | 2025 |
Property Taxes
Parcel Number
01506-0007
Land Assessment
$61,200
Improvements Assessment
$286,110
Total Assessment
$347,310
Annual Taxes
$37,676 ($9.34/SF)
Tax Year
2025
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81-38 Baxter Ave
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