Storefront Property with Loading
For Sale
$4,680,000
37-14 34th Street, Long Island City, NY 11101
Commercial Sale, Long Island City, NY
Property Size13,104 SF
Lot Size0.46 Acres
Price / SF$357.14
Days on Market10
Property Features for 37-14 34th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Elementary school district
Queens 30
Middle school district
Queens 30
High school district
Queens 30
Standard status
Active
APN
00375-7501
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
42286
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Electric
Water source
Public
Amenities
dedicated loading berth
Building Details
Year built
2019
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 23 at 4:06PM
MLS# 1038989
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.
Investment Insights
Based on property information with market context.
This 2019 Class B storefront property provides approximately 13,104 gross square feet within a brick building. Two separate entrances support flexible circulation, while a dedicated loading berth accommodates loading and unloading activity. The property may support retail, showroom, warehouse, or other permitted commercial uses, subject to zoning and applicable regulations.
The site encompasses approximately 0.4556 acres in Long Island City, Queens County. Public water and public sewer serve the property. Building systems include baseboard heating and electric cooling, providing a straightforward configuration for commercial occupancy.
The site encompasses approximately 0.4556 acres in Long Island City, Queens County. Public water and public sewer serve the property. Building systems include baseboard heating and electric cooling, providing a straightforward configuration for commercial occupancy.
Key Highlights
- Approximately 13,104 gross square feet
- Two separate entrances provide flexible access
- Dedicated loading berth for loading and unloading
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$233,906
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,678,120
$4.7M
Cap Rate 7%
$3,341,514
$3.3M
Cap Rate 9%
$2,598,956
$2.6M
Market Conditions
NOI Build-Up for 13,104 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$393.1K $30.00/SF
− Vacancy
−$59.0K −$4.50/SF
EGI
$334.2K $25.50/SF
− OpEx
−$100.2K −$7.65/SF
NOI
$233.9K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,678,120
Cap Rate 7%
$3,341,514
Cap Rate 9%
$2,598,956
Alternative Uses
Best Use
Retail
$3.34M
$2.92M – $3.90M
NOI $233,906 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.66M
$8.45M – $11.27M
NOI $676,229 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,301
Businesses Nearby
226k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 32%
Groceries 22%
Electronics 1%
McDonald's
Dining
28,219 visits/mo
0.3 miles
McDonald's
Dining
24,841 visits/mo
0.3 miles
Key Food Supermarkets
Groceries
20,650 visits/mo
0.4 miles
Starbucks
Dining
20,474 visits/mo
0.3 miles
Bank of America
Shops & Services
12,249 visits/mo
0.4 miles
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Class B commercial building with multiple entry points and dedicated delivery access.
Where is this storefront property located?
The property is located at 37-14 34th Street Long Island City, NY.
What is the asking price?
The asking price for this property is $4,680,000.
What are key features of this property?
This property features: Approximately 13,104 gross square feet; Two separate entrances provide flexible access; Dedicated loading berth for loading and unloading
