Multi-Tenant Office Building with
For Sale
$22,000,000
12909 26th Avenue, Flushing, NY 11354
For-sale office building featuring 36 units and a large parking lot along a major commercial corridor.
Property Size60,000 SF
Days on Market74
Property Features for 12909 26th Avenue
General Information
Standard status
Active
Size
60,000 SF
Additional Details
Office Units
36
Taxes and HOA fees
Annual Taxes
$430,625
Amenities
Active
Price Change
Professional/Office
2026-01-23T00:00:00+00:00
IDX
no
Square Feet
Electric
Public Sewer
Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected
Public
55590
yes
Stucco
Building Details
Building Size
60,000 SF
Year Built
1986
Listed By:
Michael Galgano
(845) 304-5353
Source:
Startpackingtoday.idxbroker
Added: Jun 25
Changed: Sep 5
Last Checked: Jul 1 at 1:22AM
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 Michael Galgano
Investment Insights
Based on property information with market context.
This for-sale office building is configured as a multi-tenant property with 36 units. The asset includes a large parking lot, supporting day-to-day tenant and customer access.
The property is located at 12909 26th Avenue in Flushing, NY 11354, along the busy commercial corridor of 26th Ave in College Point. Its setting supports convenient access for office users traveling to and from the area.
Designed for tenants seeking an office unit within a larger shared building, the 36-unit configuration can accommodate a range of professional needs. For buyers and operators, the combination of multiple units and onsite parking provides a practical foundation for managing office leasing in a corridor commercial location. All details provided are based on the information available in the public remarks and property data.
The property is located at 12909 26th Avenue in Flushing, NY 11354, along the busy commercial corridor of 26th Ave in College Point. Its setting supports convenient access for office users traveling to and from the area.
Designed for tenants seeking an office unit within a larger shared building, the 36-unit configuration can accommodate a range of professional needs. For buyers and operators, the combination of multiple units and onsite parking provides a practical foundation for managing office leasing in a corridor commercial location. All details provided are based on the information available in the public remarks and property data.
Key Highlights
- 1986‑built office building with 36 units
- Located along the busy commercial corridor of 26th Ave in College Point
- Large parking lot for tenants and visitors
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
$1,975,428
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
8.98%
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%
$39,508,560
$39.5M
Cap Rate 7%
$28,220,400
$28.2M
Cap Rate 9%
$21,949,200
$21.9M
Market Conditions
NOI Build-Up for 60,000 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
$3.02M $50.40/SF
− Vacancy
−$390.1K −$6.50/SF
EGI
$2.63M $43.90/SF
− OpEx
−$658.5K −$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 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%
$39,508,560
Cap Rate 7%
$28,220,400
Cap Rate 9%
$21,949,200
Alternative Uses
Best Use
Office B
$28.22M
$24.69M – $32.92M
NOI $1,975,428 @ 7.0% cap · market cap 8.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$44.23M
$38.70M – $51.60M
NOI $3,096,288 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Office units
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
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?
Office building - For-sale office building featuring 36 units and a large parking lot along a major commercial corridor.
Where is this office building located?
The property is located at 12909 26th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: 1986‑built office building with 36 units; Located along the busy commercial corridor of 26th Ave in College Point; Large parking lot for tenants and visitors
