Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    37-28 9th St Long Island City, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-story office space with basement, high ceilings, and natural light.

    Type:OFFICE
    Property size:
    1,250 SF
    Lot size:
    0.23 Acres
    Added:
    Jul 5, 2023
    Days on Market:
    1032
    Last Refresh:
    Apr 5 at 11:06 pm

    Property Features for 37-28 9th St

    General Information

    Standard status
    Active
    Size
    1,250 SF
    Lot size
    0.23 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Dana Schneider

    Listing agent Dana Schneider

    Listing office DreamSpace Realty

    Listing date Jul 5, 2023

    Source Moodyscre

    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 DreamSpace Realty

    Overview

    Creative Office Space For Rent

    This property is suitable for office or creative use. It features two floors plus a basement, with high ceilings and ample natural light. Each floor is divided in half, but the halves can be combined. Half floors measure either 1300 square feet or 1800 square feet, while full floors offer 3100 square feet. The property includes private bathrooms. The total property size is 1250 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cooking With Corey Take-out & Catering Modular International Shelter Community Center Be Here Loft Hotel & Motel Exotic Paintings Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.9307
    Latitude
    40.7761

    Nearby Similar for Sale

    • $3,999,999

      Long Island City Commercial Building

      Industrial building with commercial kitchen and office space for sale.
      8-07 38th Avenue, Long Island City, NY 11101
      View Details
    • $9,500,000
      21,730 SF

      Astoria Religious Community Facility Portfolio

      Two community buildings totaling 21k+ sq ft on 11k sq ft.
      32-71 41St St, Unit portfolio, Astoria, NY 11103
      View Details
    • $1,696,000

      Retail Storefront in Long Island

      Prime retail storefront unit for sale in Long Island City.
      28-09 39th Avenue, Long Island City, NY 11101
      View Details
    • $2,075,000

      Two-Family Home in Long Island

      Vacant two-family home with customization potential in prime location.
      44-66 23rd Street, Long Island City, NY 11101
      View Details
    • $1,750,000
      2,400 SF

      3263 41st Street, Astoria, Long Island City NY 11103 Multi Family Apartments

      Two-family house near Steinway Street subways, delivered fully vacant.
      32-63 41St St, Astoria, NY 11103
      View Details
    • $4,000,000
      4,300 SF

      Long Island City Retail Property

      Retail property near subway and LIRR in Long Island City.
      21-01 49th Ave, Long Island City, NY 11101
      View Details
    • $1,588,000

      Long Island City Multifamily Property

      Multifamily property in Long Island City, Queens.
      48-72 37th Street, Long Island City, NY 11101
      View Details
    • $1,499,000

      Long Island City Multifamily Building

      Six-family building in Long Island City, right off Jackson Avenue.
      11-21 47th Road, Long Island City, NY 11101
      View Details
    • $930,000

      Long Island City Duplex

      Duplex with three bedrooms, eat-in kitchen, and one-car garage.
      24-11 37th Avenue, Long Island City, NY 11101
      View Details
    • $1,800,000

      Long Island City Multi-Family House

      Two-dwelling semi-detached house in Long Island City, Queens.
      11-06 34th Avenue, Long Island City, NY 11106
      View Details
    • $1,800,000

      Long Island City Mixed-Use Property

      Three-family house with storefront near LIRR station.
      3617 Greenpoint Avenue, Long Island City, NY 11101
      View Details
    • $5,500,000
      2,500 SF

      Investment Opportunity: 4-Unit Apartment Building For Sale

      Four apartments and retail space in Hunters Point, Queens.
      Hunters point, Queens, NY 11101
      View Details

    FAQs

    What type of property is this?
    Office units - Two-story office space with basement, high ceilings, and natural light.
    Where is this office units located?
    The property is located at 37-28 9th St Long Island City, NY.
    What are key features of this property?
    This property features: Great natural light; High ceilings; Suitable for office/creative use
    (718) 554-1555 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dana Schneider
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    37-28 9th St, Long Island City, NY

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!