Four-Story Flex
For Sale
$7,495,000
1957 49th Street Astoria, Ny, NY 11105
New construction combines warehouse functionality with loft-style office floors, elevator access, and outdoor areas with city views.
Property Size16,000 SF
Price / SF$468.44
Days on Market62
Property Features for 1957 49th Street Astoria
General Information
Standard status
Active
Size
16,000 SF
Elevators
Yes
Zoning
M1-1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
5,000 SF
Drive-In Doors
1
Power
800 amps
Three-Phase Power
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$18,000
Amenities
elevator
video intercom system
prewired for phone and data
No
Public
16000
Building Details
Building Size
16,000 SF
Buildings
1
Stories
4
Listing Agency:
(845) 765-6128
Listed By:
Andrea Rayford
(845) 765-6128
Source:
Town-and-country-fishkill-ny.remax
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 9:53PM
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 Andrea Rayford
Investment Insights
Based on property information with market context.
Newly built 16,000 SF flex property arranged across four stories, with a 5,000 SF warehouse and approximately 11,000 SF of upper-level office space. The warehouse provides 14+ feet of ceiling clearance, a drive-in gate with 12-foot clearance, heating, and a full sprinkler system. Upper floors feature open loft-style layouts, central heating and cooling, video intercom service, and prewiring for phone and data. A passenger elevator and two stairways serve all levels.
The second floor measures approximately 4,000 SF and includes 1,000 SF of outdoor space. The third floor contains approximately 4,000 SF, while the fourth floor offers 3,000 SF plus another 1,000 SF outdoor area. The property also provides approximately 2,000 SF of exterior space, 50 feet of frontage on 49th Street, large windows, and city views. M1-1 zoning, 800 AMP, 3 phase service, and four 200 AMP, 3 phase services—one for each floor—support a range of flex-oriented operations. Access to Grand Central Parkway and the BQE, proximity to LaGuardia Airport, and connectivity to NYC and the boroughs add transportation convenience.
The second floor measures approximately 4,000 SF and includes 1,000 SF of outdoor space. The third floor contains approximately 4,000 SF, while the fourth floor offers 3,000 SF plus another 1,000 SF outdoor area. The property also provides approximately 2,000 SF of exterior space, 50 feet of frontage on 49th Street, large windows, and city views. M1-1 zoning, 800 AMP, 3 phase service, and four 200 AMP, 3 phase services—one for each floor—support a range of flex-oriented operations. Access to Grand Central Parkway and the BQE, proximity to LaGuardia Airport, and connectivity to NYC and the boroughs add transportation convenience.
Key Highlights
- 16,000 SF newly built four‑story flex office and warehouse building
- 5,000 SF warehouse with 14+ feet of ceiling height and a 12‑foot drive‑in gate
- Approximately 2,000 SF of outdoor space with city views
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
$501,003
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
6.68%
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%
$10,020,060
$10.0M
Cap Rate 7%
$7,157,186
$7.2M
Cap Rate 9%
$5,566,700
$5.6M
Market Conditions
NOI Build-Up for 16,000 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
$823.7K $51.48/SF
− Vacancy
−$155.7K −$9.73/SF
EGI
$668.0K $41.75/SF
− OpEx
−$167.0K −$10.44/SF
NOI
$501.0K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /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%
$10,020,060
Cap Rate 7%
$7,157,186
Cap Rate 9%
$5,566,700
Alternative Uses
Best Use
Office B
$7.16M
$6.26M – $8.35M
NOI $501,003 @ 7.0% cap · market cap 6.68%
Second Best
Flex RnD
$5.62M
$4.91M – $6.55M
NOI $393,120 @ 7.0% cap · market cap 5.25%
Theoretical Best
Specialty Retail
$39.83M
$34.85M – $46.46M
NOI $2,787,840 @ 7.0% cap · market cap 37.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,964
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - New construction combines warehouse functionality with loft-style office floors, elevator access, and outdoor areas with city views.
Where is this flex space located?
The property is located at 1957 49th Street Astoria Ny, NY.
What is the asking price?
The asking price for this property is $7,495,000.
What are key features of this property?
This property features: 16,000 SF newly built four‑story flex office and warehouse building; 5,000 SF warehouse with 14+ feet of ceiling height and a 12‑foot drive‑in gate; Approximately 2,000 SF of outdoor space with city views
