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    17-17 Troutman St Queens, NY 11385 Queens, NY 11385

    Sponsored
    For Lease
    Contact for pricing

    24,000 sq ft Creative Office Space

    Lot size:
    24,000 SF

    Description

    Added:
    Jan 7, 2025
    Days on Market:
    380
    This exceptional 24,000-square-foot office property at 17-17 Troutman Street in Ridgewood, Queens, NY 11385, offers a unique blend of industrial charm and modern functionality. Previously a factory, this building has been thoughtfully renovated to create a vibrant and inspiring workspace ideal for creative businesses. The space features lofty, airy loft spaces with impressive 15-foot-high ceilings, allowing for abundant natural light to flood in through large windows. The property's functional design includes six drive-in bays and two exterior dock doors, providing excellent access for loading and unloading. Eight standard parking spaces are also available on-site. This single-tenant space is perfect for a business seeking a unique and collaborative environment within a thriving artistic community. The property is classified as Residential offices, Medical offices, Other office properties, Mixed-use properties, and Office properties. This is a rare opportunity to secure a substantial and character-filled office space in a rapidly developing area of Queens. The property is located in Queens County, New York. The monthly rental rate is available upon request.

    Property Features for 17-17 Troutman St Queens, NY 11385

    General Information

    Property type
    Residential offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    24,000 SF
    Elevators
    N/A

    We can help!

    Listing Contact
    Corey Cohen

    Learn more

    HighLights

    • 24,000 square feet of versatile office space in Queens, NY.
    • High ceilings (15 feet) and abundant natural light create a vibrant workspace.
    • Six drive‑in bays, two exterior dock doors, and eight parking spaces enhance functionality.
    Property Profile Location Intelligence

    Current Use by Public Records

    We Less Than ... Graphic Designer Raw Chocolate Love ... Chocolate Shop The Atrium Photography Studio bbclaww Nail Salon VIVACHE DESIGNS Art Dealer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    City
    Queens
    State
    New York

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    FAQs

    What type of property is this?
    Residential office - 24,000 sq ft Creative Office Space
    Where is this residential office located?
    The property is located at 17-17 Troutman St Queens, NY 11385 Queens, NY.
    What are key features of this property?
    This property features: 24,000 square feet of versatile office space in Queens, NY.; High ceilings (15 feet) and abundant natural light create a vibrant workspace.; Six drive-in bays, two exterior dock doors, and eight parking spaces enhance functionality.
    (646) 475-7514
    Request Owner's contact information
    17-17 Troutman St Queens, NY 11385 Queens, NY 11385
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    Queens, NY 11385
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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.

    More about this property
    17-17 Troutman St Queens, NY 11385 Queens, NY 11385
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    We can help!
    Listing Contact
    Corey Cohen
    (646) 475-7514
    Learn more
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