Brick Industrial
New
For Sale
$3,780,000
102-09 44th Avenue, Corona, NY 11368
Commercial, Corona, NY
Property Size18,520 SF
Lot Size0.26 Acres
Price / SF$204.10
Days on Market2
Property Features for 102-09 44th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-1
Basement
Full
Subdivision
Corona
Standard status
Active
Size
18,520 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
87010
Building Details
Year built
1931
Floors in Building
3
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
Listed By:
Xue En (Jacky) Huang
(917) 708-9966
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 22 at 3:06PM
MLS# 504738
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 industrial property includes approximately 18,520 square feet of building area on approximately 11,360 square feet of land. The 1931 structure features brick construction, a flat roof, and 6 parking spaces. Zoning is designated M1-1.
Located at 102-09 44th Avenue in Corona, Queens, the property may be acquired separately or together with the adjacent 102-19 44th Ave property. The site combines an established building with on-site parking and an industrial zoning designation in a developed commercial setting.
Located at 102-09 44th Avenue in Corona, Queens, the property may be acquired separately or together with the adjacent 102-19 44th Ave property. The site combines an established building with on-site parking and an industrial zoning designation in a developed commercial setting.
Key Highlights
- Approximately 18,520 SF of building area
- Approximately 11,360 SF of land
- M1‑1 zoning designation
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
$116,508
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
3.08%
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%
$2,330,160
$2.3M
Cap Rate 7%
$1,664,400
$1.7M
Cap Rate 9%
$1,294,533
$1.3M
Market Conditions
NOI Build-Up for 18,520 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
$175.6K $9.48/SF
− Vacancy
−$9.1K −$0.49/SF
EGI
$166.4K $8.99/SF
− OpEx
−$49.9K −$2.70/SF
NOI
$116.5K $6.29/SF
Area
Queens County, NY
Vacancy
5.20%
Lease Rate
$9.48 /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%
$2,330,160
Cap Rate 7%
$1,664,400
Cap Rate 9%
$1,294,533
Alternative Uses
Best Use
Industrial
$1.66M
$1.46M – $1.94M
NOI $116,508 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.65M
$11.95M – $15.93M
NOI $955,721 @ 7.0% cap · market cap 25.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - M1-1-zoned commercial property with a flat roof, on-site parking, and a substantial building footprint.
Where is this industrial property located?
The property is located at 102-09 44th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $3,780,000.
What are key features of this property?
This property features: Approximately 18,520 SF of building area; Approximately 11,360 SF of land; M1‑1 zoning designation
