5408 Flushing Ave
Maspeth, NY 11378
Maspeth
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Studio
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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
This property is off market, which means it's not currently listed for sale or rent on Trulia. This may be different from what's available on other websites or public sources.
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Home Highlights
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Outdoor
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HOA
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Price/Sqft
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Listed
178 days ago
Home Details for 5408 Flushing Ave
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Year Built Year Built: 1915 |
Property Type / Style Property Type: Multi FamilyArchitecture: Other |
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Lot Area: 2613.6 sqft |
Source: Douglas Elliman, MLS#936315
Price History for 5408 Flushing Ave
| Date | Price | Event | Source |
|---|---|---|---|
| 01/29/2026 | $1,800,000 | ListingRemoved | Douglas Elliman #936315 |
| 12/13/2025 | $1,800,000 | Listed For Sale | Douglas Elliman #936315 |
Market trends in New York
Last updated April 2026
Avg. sale price
$773K $2.33KMoM
Sale-to-List Price
97.7% 0.0%MoM
Price per sq ft
$635 $2MoM
Available listings
18005 1104MoM
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Property Tax and Assessment
| Year | 2024 |
|---|---|
| Tax | |
| Assessment | $808,800 |
Home facts updated by county records
Comparable Sales for 5408 Flushing Ave
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.05 | Multi-Family Home | $1,365,000 | 08/01/25 | 8 | 3 | - | |
0.06 | Multi-Family Home | $1,325,000 | 12/19/25 | 8 | 4 | - | |
0.08 | Multi-Family Home | $1,350,000 | 08/26/25 | 8 | 4 | 3,400 | |
0.13 | Multi-Family Home | $1,161,000 | 11/25/25 | 7 | 3 | 2,750 | |
0.16 | Multi-Family Home | $1,080,000 | 03/19/26 | 8 | 3 | 2,500 | |
0.17 | Multi-Family Home | $650,000 | 10/17/25 | 7 | 5 | 2,434 | |
0.09 | Multi-Family Home | $1,400,000 | 12/04/25 | 5 | 4 | 1,936 |
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Assigned Schools
These are the assigned schools for 5408 Flushing Ave.
- Grover Cleveland H.S.
- 9-12
- Public
- 1695 Students
2/10GreatSchools RatingParent Rating AverageMy child goes to this school and I have to say I am extremely happy with the teachers and the principal. I have heard awful things about this school and was nervous to send my child here. The school is great and my son loves it. His teachers are very nice and helpful. Great communication. This school has gotten such a bad reputation. I do not have a bad thing to say about this school. I know a lot of other parents who feel the same as I do. The school is clean. Everyone is nice (principal, security, people who work in the main office, etc)Parent Review2y ago - Is 93 Ridgewood
- 6-8
- Public
- 961 Students
3/10GreatSchools RatingParent Rating AverageI had a horrible experience at this school. They’re telling my niece who is currently a student that I was a monster. My niece knows what was actually going on behind the scenes so how dare they try to change the narrative and destroy my character. I was being bullied and they did nothing!Other Review2y ago - ACE Academy for Scholars at the Geraldine Ferraro Campus
- PK-5
- Public
- 575 Students
6/10GreatSchools RatingParent Rating AverageThe school doesn't promote or recognize high achievements of African American students and they do nothing when it comes to bullying. They mainly focus on encouraging and accepting diversity in the LBGTQ community and that's all. My son went there for six years. He was always an A student, never got into any trouble, scored the highest on the state Math Exam. He also won a full scholarship at a private school. He was never recognize for any of his achievements. He also endured bullying which the principal nor the assistant principal did anything about until they received a letter from his pediatrician demanding they do something to end the bullying. They moved him immediately from the general class to the gifted and talented class. He was supposed to be placed in the gifted and talented class a couple of years prior to them moving him. The principal always told me there was no room. The school condones bullying and fails to promote diversity.Parent Review4y ago 
Check out schools near 5408 Flushing Ave.
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Maspeth
At least 692 Trulia users voted on each feature.
90 % Say there are sidewalks
86 % Say it's dog friendly
83 % Say it's walkable to grocery stores
78 % Say it's walkable to restaurants
75 % Say streets are well-lit
72 % Say people would walk alone at night
66 % Say there's holiday spirit
64 % Say yards are well-kept
59 % Say car is needed
59 % Say they plan to stay for at least 5 years
54 % Say kids play outside
52 % Say it's quiet
50 % Say neighbors are friendly
46 % Say parking is easy
40 % Say there's wildlife
33 % Say there are community events
Sourced by Trulia users. Learn more about our methodology.
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