Warehouse
New
For Sale
$3,780,000
102-09 44th Avenue, Corona, NY 11368
The property produces rental income and includes on-site parking.
Property Size18,520 SF
Lot Size0.26 Acres
Price / SF$204.10
Days on Market4
Property Features for 102-09 44th Avenue
General Information
Standard status
Active
Size
18,520 SF
Total Parking Spaces
6
Lot size
0.26 Acres
Property subtype
Warehouse
Taxes and HOA fees
Annual Taxes
$87,010
Building Details
Building Size
18,520 SF
Year Built
1931
Listing Agency:
Tiger Realty Group Inc
Listed By:
Emily Hui Chen Liang
(347) 320-2569
Source:
Serhant
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tiger Realty Group Inc
Investment Insights
Based on property information with market context.
This warehouse property contains approximately 18,520 square feet of building area on approximately 11,360 square feet of land. Constructed in 1931, the building has six parking spaces and currently generates rental income.
At 102-09 44th Avenue in Corona, the property is near major transportation and commercial corridors. It may be acquired on its own or in conjunction with the adjacent property at 102-19 44th Avenue.
At 102-09 44th Avenue in Corona, the property is near major transportation and commercial corridors. It may be acquired on its own or in conjunction with the adjacent property at 102-19 44th Avenue.
Key Highlights
- Approximately 18,520 SF of building area
- Approximately 11,360 SF of land
- Six parking spaces
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
$141,474
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
3.74%
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%
$2,829,480
$2.8M
Cap Rate 7%
$2,021,057
$2.0M
Cap Rate 9%
$1,571,933
$1.6M
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
−$25.0K −$1.35/SF
NOI
$141.5K $7.64/SF
Area
Queens County, NY
Vacancy
5.20%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,829,480
Cap Rate 7%
$2,021,057
Cap Rate 9%
$1,571,933
Alternative Uses
Best Use
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,474 @ 7.0% cap · market cap 3.74%
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
Under-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - The property produces rental income and includes on-site parking.
Where is this warehouse 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; Six parking spaces
