Two-Building Industrial Flex
For Sale
$4,000,000
10211 44th Ave, Corona, NY 11368
Two-building package with loading area, two freight elevators, and 7 on-site parking spaces, plus basement area.
Property Size18,520 SF
Price / SF$215.98
Days on Market205
Property Features for 10211 44th Ave
General Information
Standard status
Active
Size
18,520 SF
Taxes and HOA fees
Annual Taxes
$87,009
Listing Agency:
ProBase Real Estate
Listed By:
Chun Hung (Leo) Tse · License #CT7740
(718) 210-2727
Source:
Exprealty
Added: Feb 12
Changed: Sep 4
Last Checked: Sep 4 at 9:08AM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
This for-sale two-building package includes 10211 and 10215 44th Avenue in Corona, NY 11368. The property totals approximately 11,300 SF of lot area and approximately 18,520 SF of building area, with an additional approximately 3,500 SF basement. Operational support includes a loading area, two freight elevators, and parking for 7 vehicles on site.
The buildings offer flexible usage potential, subject to zoning, making the package suitable for buyers evaluating scale across both structures. All details above are based on available property information and are offered for due diligence.
The buildings offer flexible usage potential, subject to zoning, making the package suitable for buyers evaluating scale across both structures. All details above are based on available property information and are offered for due diligence.
Key Highlights
- Two‑building package at 10211 and 10215 44th Avenue, Corona, NY 11368
- Total lot size of approximately 11,300 SF with total building size of approximately 18,520 SF
- Basement area of approximately 3,500 SF
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
$293,968
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
7.35%
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%
$5,879,360
$5.9M
Cap Rate 7%
$4,199,543
$4.2M
Cap Rate 9%
$3,266,311
$3.3M
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
$488.9K $26.40/SF
− Vacancy
−$36.7K −$1.98/SF
EGI
$452.3K $24.42/SF
− OpEx
−$158.3K −$8.55/SF
NOI
$294.0K $15.87/SF
Area
Queens County, NY
Vacancy
7.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
35.00%
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%
$5,879,360
Cap Rate 7%
$4,199,543
Cap Rate 9%
$3,266,311
Alternative Uses
Best Use
Flex RnD
$4.20M
$3.67M – $4.90M
NOI $293,968 @ 7.0% cap · market cap 7.35%
Second Best
Industrial
$1.66M
$1.46M – $1.94M
NOI $116,508 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$13.65M
$11.95M – $15.93M
NOI $955,721 @ 7.0% cap · market cap 23.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,636
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building package with loading area, two freight elevators, and 7 on-site parking spaces, plus basement area.
Where is this flex space located?
The property is located at 10211 44th Ave Corona, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Two‑building package at 10211 and 10215 44th Avenue, Corona, NY 11368; Total lot size of approximately 11,300 SF with total building size of approximately 18,520 SF; Basement area of approximately 3,500 SF
