Four-Story Office Flex
129-09 26th Ave Flushing, NY 11354
129-09 26th Ave, Flushing, NY, 11354
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For Sale
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Four-story, multi-tenant office and flex building totaling 60,622 square feet with 36 tenants and annual rent escalations.
Property Size60,000 SF
Price / SF$416.67
Days on Market170
Property Features for 129-09 26th Ave
General Information
- Standard status
- Active
- Size
- 60,000 SF
- Property subtype
- Industrial, Office
Building Details
- Year Built
- 1986
Listing agency
G.E. Grace & Company, Inc.
(516) 713-3002
Listed by
Charles Turbak · License #NY
Source
Crexi
Added: Feb 1 Updated: Jul 21 at 6:01AM Checked: Jul 21 at 6:01AM
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 G.E. Grace & Company, Inc.
Investment Insights
Based on property information with market context.
This four-story office and flex industrial building provides a diversified, multi-tenant setup, currently leased to 36 tenants. The property includes 41,457 square feet of office space and 19,165 square feet of industrial/flex space, supporting a mixed operational profile within one building. Leases include annual rent escalations, contributing to the stability of the existing rent roll.
Located in the College Point section of Queens, the property is near Flushing, Whitestone, and LaGuardia Airport. Access to major highways and public transportation is described as convenient, and the surrounding area is characterized by established commercial and industrial uses.
The building totals approximately 60,622 square feet and is presented as an opportunity for further income growth through lease-up of existing vacancy and renewal of leases at market-supported rents, based on the current lease structure and multi-tenant composition.
Located in the College Point section of Queens, the property is near Flushing, Whitestone, and LaGuardia Airport. Access to major highways and public transportation is described as convenient, and the surrounding area is characterized by established commercial and industrial uses.
The building totals approximately 60,622 square feet and is presented as an opportunity for further income growth through lease-up of existing vacancy and renewal of leases at market-supported rents, based on the current lease structure and multi-tenant composition.
Key Highlights
- Four‑story office and flex industrial building built in 1986
- Total building area of 60,622 SF: 41,457 SF office and 19,165 SF industrial/flex
- Leased to 36 tenants, creating a diversified multi‑tenant rent roll
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $3.02M | $50.40 |
| − Vacancy | −$390.1k | −$6.50 |
| EGI | $2.63M | $43.90 |
| − OpEx | −$658.5k | −$10.97 |
| NOI | $1.98M | $32.92 |
60,000 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$28.22M
$24.69M – $32.92M
NOI $1,975,428 @ 7.0% cap · market cap 7.90%
Second Best
Flex RnD
$13.61M
$11.90M – $15.87M
NOI $952,380 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$44.23M
$38.70M – $51.60M
NOI $3,096,288 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
vincent video production ...
Film Production
Elite Amenity Management
Property Management Company
Cemco Industrial
Industrial Manufacturer
DTS Fire Alarm ...
Professional Services
RST SOLAR ENERGY
Solar Energy Company
Similar For Sale Nearby
Similar Off Market Nearby
- Larimer Catering — 121st St, Queens, NY 11356
- Mujeog Jjang restaurant -J&CH Catering Corp/Pig's trotters, chicken, bento boxes/족발,치킨,도시락 전문 — 129-09 26th Ave, College Point, NY 11354
- Mujjeog Jjang Restaurant — 129-09 26th Ave, Flushing, NY 11354
- 678 Aurora Catering Inc. — 3050 Whitestone Expy, College Point, NY 11354
- Lee K of Ny Inc — 13305 32nd Ave, Queens, NY 11354
FAQs
What type of property is this?
Flex space - Four-story, multi-tenant office and flex building totaling 60,622 square feet with 36 tenants and annual rent escalations.
Where is this flex space located?
The property is located at 129-09 26th Ave Flushing, NY.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: Four‑story office and flex industrial building built in 1986; Total building area of 60,622 SF: 41,457 SF office and 19,165 SF industrial/flex; Leased to 36 tenants, creating a diversified multi‑tenant rent roll
