Corner Gas Station
For Sale
$4,599,000
Pending
39-04 Skillman Avenue, Sunnyside, NY 11104
Commercial Sale, Sunnyside, NY
Property Size5,220 SF
Lot Size0.21 Acres
Days on Market202
Property Features for 39-04 Skillman Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
Use Google Maps
Standard status
Pending
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
77790
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1997
Building materials
Brick
Listing Agency:
Capri Jet Realty Corp
(718) 388-2188
Listed By:
Thomas Horodecki
(646) 226-5533
Added: Feb 20
Changed: Aug 20
Last Checked: Sep 10 at 9:06AM
MLS# 963735
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 corner commercial property includes a leased gas station with an attached convenience store and a separately leased transmission repair shop. The building measures 90 x 58 feet, sits on a 100 x 90-foot lot, and was constructed in 1997 with brick materials. The sale is offered in its existing condition.
Located at 39-04 Skillman Avenue in Sunnyside, Queens, the property is zoned M1-4 with a 0.36 FAR and a maximum FAR of 2. The stated maximum buildable area is 18,000 SF. Public water and public sewer serve the site, with water available listed among the utilities. Multi-unit cooling is installed.
Located at 39-04 Skillman Avenue in Sunnyside, Queens, the property is zoned M1-4 with a 0.36 FAR and a maximum FAR of 2. The stated maximum buildable area is 18,000 SF. Public water and public sewer serve the site, with water available listed among the utilities. Multi-unit cooling is installed.
Key Highlights
- Leased gas station with convenience store
- Separately leased transmission repair shop
- 90 x 58 ft building on a 100 x 90 ft lot
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
$241,595
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
5.25%
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%
$4,831,900
$4.8M
Cap Rate 7%
$3,451,357
$3.5M
Cap Rate 9%
$2,684,389
$2.7M
Market Conditions
NOI Build-Up for 5,220 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
$344.5K $66.00/SF
− Vacancy
−$22.4K −$4.29/SF
EGI
$322.1K $61.71/SF
− OpEx
−$80.5K −$15.43/SF
NOI
$241.6K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,831,900
Cap Rate 7%
$3,451,357
Cap Rate 9%
$2,684,389
Alternative Uses
Best Use
Specialty Retail
$3.45M
$3.02M – $4.03M
NOI $241,595 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$1.33M
$1.16M – $1.55M
NOI $93,177 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$3.85M
$3.37M – $4.49M
NOI $269,377 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,928
Businesses Nearby
84k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Shops & Services 27%
Dining 17%
Home Improvements & Furnishings 2%
Key Food
Groceries
45,409 visits/mo
0.5 miles
BP
Shops & Services
9,895 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,858 visits/mo
0.3 miles
Dunkin' Donuts
Dining
6,235 visits/mo
0.5 miles
Exxon
Shops & Services
3,291 visits/mo
0.4 miles
Demographics for 11104, NY
27,407
Population
13,224
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
68,518
Density / Sq Mi
$84,716
Median Household Income
$60,346
Median Earnings
$1,924
Median Rent
$665,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Leased gas station with convenience retail and a separately leased transmission repair shop.
Where is this gas station located?
The property is located at 39-04 Skillman Avenue Sunnyside, NY.
What is the asking price?
The asking price for this property is $4,599,000.
What are key features of this property?
This property features: Leased gas station with convenience store; Separately leased transmission repair shop; 90 x 58 ft building on a 100 x 90 ft lot
