Flushing Office and Industrial
12909 26th Ave, Flushing, NY
For Sale
Contact for pricing
Office and industrial building in Flushing with development potential.
Property Size60,146 SF
Lot Size1.52 Acres
Price / SF$382.40
Days on Market998
Property Features for 12909 26th Ave
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
ERG
(212) 807-6640
Listed By:
Salvatore Iuvara
(646) 253-0989
Source:
Moodyscre
Added: Feb 21, 2024
Changed: Aug 8
Last Checked: Aug 25 at 8:12AM
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 ERG
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property in Flushing, NY, presents a development opportunity featuring a 34-unit office and industrial building. The building is currently 95% leased and generating cash flow. The existing structure allows for an additional 64,000 square feet of air rights, bringing the total buildable square footage to 125,000. The property is located north of the MTA Bus: College Point Depot and is near new developments, including the Tangram and the NYCFC Willets Point development, potentially enhancing its future value. The property size is 60,146 square feet.
Key Highlights
- 64,000 SF of air rights remaining, totaling 125,000 BSF, offering significant development potential.
- Currently 95% leased and cash flowing, providing immediate income.
- 34‑unit office and industrial building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,980,235
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$39,604,700
$39.6M
Cap Rate 7%
$28,289,071
$28.3M
Cap Rate 9%
$22,002,611
$22.0M
Market Conditions
NOI Build-Up for 60,146 SF
Gross rent
$3.03M $50.40/SF
− Vacancy
−$391.0K −$6.50/SF
EGI
$2.64M $43.90/SF
− OpEx
−$660.1K −$10.97/SF
NOI
$1.98M $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 Rate 5%
$39,604,700
Cap Rate 7%
$28,289,071
Cap Rate 9%
$22,002,611
Alternative Uses
Best Use
Office B
$28.29M
$24.75M – $33.00M
NOI $1,980,235 @ 7.0% cap · market cap 8.61%
Second Best
Industrial
$5.41M
$4.73M – $6.31M
NOI $378,374 @ 7.0% cap · market cap 1.65%
Theoretical Best
Office A
$44.34M
$38.80M – $51.73M
NOI $3,103,822 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Industrial properties in Queens County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Industrial property - Office and industrial building in Flushing with development potential.
Where is this industrial property located?
The property is located at 12909 26th Ave Flushing, NY.
What is the asking price?
The asking price for this property is $22,999,999.
What are key features of this property?
This property features: 64,000 SF of air rights remaining, totaling 125,000 BSF, offering significant development potential.; Currently 95% leased and cash flowing, providing immediate income.; 34‑unit office and industrial building.
