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    Industrial Warehouse Property with Two Units Title is generated by Realmo AI

    124-15 18th Avenue, College Point, NY 11356

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    For Sale
    $1,399,000

    COMMERCIAL - College Point, NY

    Property size:
    3,200 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $437/SF
    Added:
    Mar 4, 2026
    Days on Market:
    96
    Last Refresh:
    Jun 8 at 9:06 am

    Property Features for 124-15 18th Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    R4A
    Standard status
    Active
    APN
    04088-0040
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    19553

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1961
    Number of units
    2
    Building materials
    Brick

    We can help!

    Listing Contact
    Fatima Smith AHWD
    Fatima Smith AHWD

    Listing agent Fatima Smith AHWD

    Listing office BERKSHIRE HATHAWAY 191 Hillside Ave, Williston Park, NY

    Listing date Mar 4, 2026

    MLS# 967597

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two fully functional warehouse units: approx. 1,200 SF and 2,000 SF (total approx. 3,200 SF)
    • Both units have garage bay doors and are income‑producing with stable tenancy
    • Second unit includes refrigerated warehouse space and active business operation
    • Annual rental income approx. $88,000 with total operating expenses approx. $28,000 per year
    • Construction: brick building; Heating: oil; Cooling: window/wall unit(s)
    • Utilities include public water and public sewer

    Overview

    This for-sale industrial property includes two fully functional warehouse units configured for active distribution and storage uses. The first unit is approximately 1,200 square feet and is leased to a fabric goods distributor. The second unit is approximately 2,000 square feet and operates as a refrigerated warehouse. Both warehouse spaces feature garage bay doors, sized at approximately 11x9.

    The property is located in College Point, Queens, described as being just minutes from Flushing. It is situated on 18th Avenue and benefits from its position within a commercial corridor, with the listing noting proximity to major transportation routes and the Flushing market.

    For investors or owner-users seeking an income-producing industrial setup, the building offers two separate leased warehouse units and an internal mix of general warehouse and refrigerated operations. Current figures provided in the listing indicate approximately $88,000 in annual rental income and roughly $28,000 in annual total operating expenses, with stable tenancy noted. The property is zoned R4A, which should be confirmed for specific tenant or operational requirements prior to closing.
    Property Profile Location Intelligence

    Current Use by Public Records

    New York Steak ... Specialty Food Shop

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • City Closet Self Storage — 20-20 129th St, College Point, NY 11356
    • Bounce Luggage Storage - Flushing — 20-07 127th St, Queens, NY 11356
    • Ralph express moving inc. — 114-16 14th Ave, College Point, NY 11356
    • Villevelo Self Storage Units — 13811 20th Ave, Queens, NY 11356
    • College Point Self Storage — 2020 129th St, Queens, NY 11356

    Location Insight

    • Map
    • Local Demand
    City
    College Point
    County
    Queens
    State
    New York
    Longitude
    -73.848082
    Latitude
    40.783065

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    FAQs

    What type of property is this?
    Warehouse - Two leased warehouse units with garage bay doors, including a refrigerated space, in College Point, Queens.
    Where is this warehouse located?
    The property is located at 124-15 18th Avenue College Point, NY.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: Two fully functional warehouse units: approx. 1,200 SF and 2,000 SF (total approx. 3,200 SF); Both units have garage bay doors and are income‑producing with stable tenancy; Second unit includes refrigerated warehouse space and active business operation
    (516) 668-9154
    We can help!
    Listing Contact
    Fatima Smith AHWD
    Fatima Smith AHWD
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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