Renovated Flex Space with Drive-In
For Sale
$1,898,000
12414 22nd Avenue, College Point, NY 11356
Commercial Sale, College Point, NY
Property Size4,018 SF
Lot Size0.11 Acres
Price / SF$472.37
Days on Market241
Property Features for 12414 22nd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R4A
Standard status
Active
APN
04200-0021
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
26759
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
ENERGY STAR Qualified Equipment
Water source
Public
Amenities
drive-in doors
Building Details
Year built
1926
Building materials
Brick
Listing Agency:
SpaceMax Realty Inc
(718) 888-9168
Listed By:
Alan Z. Mei
(718) 888-9168
Added: Dec 22, 2025
Changed: Aug 20
Last Checked: Aug 20 at 4:06AM
MLS# 945888
Copyright © 2026 OneKey MLS. 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 4,018-square-foot flex property combines a renovated showroom with office areas and warehouse space. Drive-in doors open at the front of the warehouse, supporting the loading and access needs associated with storage, contracting, plumbing, electrical, mechanical, and other light industrial operations. The building was constructed in 1926 with brick construction, baseboard heating, ENERGY STAR Qualified Equipment for cooling, public water, and public sewer.
The property is located in College Point near 20th Avenue shopping and within minutes of a major highway. Zoning is R4A. Its mix of showroom, office, and warehouse components provides a varied commercial layout within a single 4,018-square-foot space.
The property is located in College Point near 20th Avenue shopping and within minutes of a major highway. Zoning is R4A. Its mix of showroom, office, and warehouse components provides a varied commercial layout within a single 4,018-square-foot space.
Key Highlights
- 4,018‑square‑foot flex property with showroom, offices, and warehouse space
- Renovated showroom and office areas
- Front‑facing drive‑in doors at the warehouse
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
$132,288
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
6.97%
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%
$2,645,760
$2.6M
Cap Rate 7%
$1,889,829
$1.9M
Cap Rate 9%
$1,469,867
$1.5M
Market Conditions
NOI Build-Up for 4,018 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
$202.5K $50.40/SF
− Vacancy
−$26.1K −$6.50/SF
EGI
$176.4K $43.90/SF
− OpEx
−$44.1K −$10.97/SF
NOI
$132.3K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,645,760
Cap Rate 7%
$1,889,829
Cap Rate 9%
$1,469,867
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,288 @ 7.0% cap · market cap 6.97%
Second Best
Retail
$1.02M
$896.5K – $1.20M
NOI $71,721 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$2.96M
$2.59M – $3.46M
NOI $207,348 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,778
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated showroom and office areas support flexible commercial use.
Where is this flex space located?
The property is located at 12414 22nd Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,898,000.
What are key features of this property?
This property features: 4,018‑square‑foot flex property with showroom, offices, and warehouse space; Renovated showroom and office areas; Front‑facing drive‑in doors at the warehouse
