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    1032 Beach 21st St Queens, NY 11691

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    For Sale
    $1,100,000

    2,400 SF warehouse in rezoned district with development potential.

    Type:Industrial
    Property size:
    2,400 SF
    Lot size:
    0.09 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 24 at 3:14 pm

    Property Features for 1032 Beach 21st St

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    0.09 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Louisa Borriello

    Listing agent Louisa Borriello License #NY 10301204630

    Listing office Charles Rutenberg Realty, Inc.

    Listing date Apr 24, 2026

    Source Elliman

    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 Charles Rutenberg Realty, Inc.

    Overview

    Far Rockaway Warehouse with Development Potential

    This vacant 2,400 square foot block warehouse building is situated on a 4,000 square foot lot in the rezoned Downtown Far Rockaway district. The property features parking on site, two electric roll-up doors, and 16-foot ceilings, with an overall ceiling height of 18 feet. The building is prepped with gas, electric, and plumbing, and has 200 amps of electric power. It includes 14-foot garage doors and approximately 60 feet of road frontage, offering excellent access and a functional layout suitable for a variety of industrial and storage uses. The location is 7 miles from JFK and minutes from the Major Nassau Expressway, just outside the 5Towns. The property is considered excellent for a commercial end user. The city may allow residential development rights to build 14,000 square feet under special bulk and density zoning rules. The location has a bike score of 61, making it bikeable, a walk score of 68, indicating it is somewhat walkable, and a transit score of 73, reflecting excellent transit options.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • High May inc 華美快遞 — 14-15 Redfern Ave, Far Rockaway, NY 11691
    • Self-Storage at U-Haul — 20A Sheridan Blvd, Inwood, NY 11096
    • Camfrog shop — 918 cornaga ave, queens, ny 11691

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.7624
    Latitude
    40.6011

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    FAQs

    What type of property is this?
    Warehouse - 2,400 SF warehouse in rezoned district with development potential.
    Where is this warehouse located?
    The property is located at 1032 Beach 21st St Queens, NY.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Rezoned Downtown Far Rockaway District location with potential for residential development up to 14,000 SF (subject to city approval).; 2,400 SF vacant block warehouse building suitable for commercial end‑users or storage.; Excellent transit score (73) and proximity to major transportation: 7 miles to JFK and minutes to Nassau Expressway.
    (516) 805-0318
    We can help!
    Listing Contact
    Louisa Borriello
    Real Estate License ID: NY 10301204630
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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