Two-Building Industrial
For Sale
$4,000,000
10211 44th Avenue, Corona, NY 11368
Commercial, Corona, NY
Property Size18,520 SF
Lot Size0.26 Acres
Price / SF$215.98
Days on Market213
Property Features for 10211 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
87009
Building Details
Floors in Building
3
Building materials
Brick
Roof type
Flat
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Chun Hung (Leo) Tse · License #CT7740
(646) 407-6668
Added: Feb 12
Changed: Sep 6
Last Checked: Sep 13 at 4:06AM
MLS# 498970
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 comprises two brick buildings at 10211 and 10215 44th Avenue in Corona, Queens. The buildings contain approximately 18,520 square feet, supported by an approximately 3,500-square-foot basement. A loading area, seven on-site parking spaces, and two freight elevators add practical handling and access features. The site encompasses approximately 11,300 square feet and has a flat roof configuration.
The property is zoned M1-1, with usage subject to applicable zoning requirements. Its two-building layout provides a substantial physical footprint for an industrial owner or occupant, with basement space and freight access incorporated into the overall configuration.
The property is zoned M1-1, with usage subject to applicable zoning requirements. Its two-building layout provides a substantial physical footprint for an industrial owner or occupant, with basement space and freight access incorporated into the overall configuration.
Key Highlights
- Two‑building industrial property at 10211 and 10215 44th Avenue
- Approximately 18,520 SF of total building area
- Approximately 11,300 SF total lot size
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,636
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 - Two brick buildings provide loading capability, freight elevator service, and on-site parking for industrial use.
Where is this industrial property located?
The property is located at 10211 44th Avenue 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 industrial property at 10211 and 10215 44th Avenue; Approximately 18,520 SF of total building area; Approximately 11,300 SF total lot size
