Two-Building Package Deal in
For Sale
$4,000,000
10211 44th Ave, Queens, NY 11368
Two industrial buildings with parking and freight elevators in Queens.
Property Size18,520 SF
Lot Size0.26 Acres
Price / SF$215.98
Days on Market120
Property Features for 10211 44th Ave
General Information
Standard status
Active
Size
18,520 SF
Lot size
0.26 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$87,009
Building Details
Building Size
18,520 SF
Stories
3
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Chun Hung (Leo) Tse · License #CT7740
(718) 210-2727
Source:
Elliman
Added: Apr 24
Changed: Aug 21
Last Checked: Aug 21 at 1:02PM
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.
Located at 10211 and 10215 44th Avenue in Corona, NY, this package deal features two buildings, presenting an opportunity for investors and end users in a high-demand Queens location. The total lot size is approximately 11,300 square feet, with a total building size of approximately 18,520 square feet. The property includes a basement of approximately 3,500 square feet. There are 7 on-site parking spaces available, along with a loading area. Infrastructure includes 2 freight elevators. The property offers operational capacity, flexible usage potential subject to zoning regulations, and value-add possibilities. The location is considered very bikeable with a bike score of 76, very walkable with a walk score of 79, and has excellent transit with a transit score of 83.
Key Highlights
- Two‑building package deal totaling approximately 18,520 SF on an 11,300 SF lot.
- Located in a high‑demand Queens location (Corona, NY).
- Includes 7 on‑site parking spaces with loading area.
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
2.91%
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 2.91%
Second Best
—
—
no second resolved use
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
5,987
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
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 industrial buildings with parking and freight elevators in Queens.
Where is this industrial property located?
The property is located at 10211 44th Ave Queens, 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 deal totaling approximately 18,520 SF on an 11,300 SF lot.; Located in a high‑demand Queens location (Corona, NY).; Includes 7 on‑site parking spaces with loading area.
