Building Details

Year Built 1982

Stories 1

Listing Agency: Coldwell Banker American Homes

Listed By: Richard Gambino · License #NY Show Phone

Source: Crexi

Added: Oct 8, 2020 Changed: Oct 9 Last Checked: Oct 14 at 10:21PM

Report an Issue

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 Coldwell Banker American Homes

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1-story warehouse contains 3,000 square feet, including 2,500 square feet of primary space and a 500-square-foot unfinished loft configured for office use. The building includes one roll-up door and two front entry doors. The entrance opening measures 11 feet high, while interior ceilings reach 20 feet. Constructed in 1982, the property carries M-1 zoning described as suitable for most commercial uses.

Access to the BQE provides connectivity across all boroughs, with Northern Boulevard and Broadway nearby. The property is also a few blocks from the Woodside LIRR and subway station.

Key Highlights

• 3,000 SF warehouse with 2,500 SF of primary space and a 500 SF unfinished office loft
• 11‑foot entrance opening with ceilings reaching 20 feet
• One roll‑up door plus two front doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,619

Cap Rate

3.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$952,380 $952.4K

Cap Rate 7%

$680,271 $680.3K

Cap Rate 9%

$529,100 $529.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$79.2K $26.40/SF

− Vacancy

−$5.9K −$1.98/SF

EGI

$73.3K $24.42/SF

− OpEx

−$25.6K −$8.55/SF

NOI

$47.6K $15.87/SF

Area

Queens County, NY

Vacancy

7.50%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$952,380

Cap Rate 7%

$680,271

Cap Rate 9%

$529,100

Alternative Uses

Best Use

Flex RnD

$680.3K

$595.2K – $793.7K (±1% cap)

NOI $47,619 @ 7.0% cap · market cap 3.41%

Second Best

Warehouse

$327.4K

$286.5K – $382.0K (±1% cap)

NOI $22,917 @ 7.0% cap · market cap 1.64%

Theoretical Best

Office A

$2.21M

$1.94M – $2.58M (±1% cap)

NOI $154,814 @ 7.0% cap · market cap 11.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Law Firm Parking Lot & Garage Real Estate Agency Hotel & Motel Nursing Home Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

3,733

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11377, NY

91,512

Population

34,928

Households

2.6

Avg Household Size

39

Median Age

33%

College-Educated

82%

High-School Grad

2.5 sq mi

ZIP Area

36,605

Density / Sq Mi

$73,292

Median Household Income

$45,978

Median Earnings

$1,802

Median Rent

$670,300

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar For Sale Nearby

See more

Flex Space with Warehouse

70-42 48th Avenue, Woodside, NY 11377

$2,380,000

0.09 Acres

View details

Corner Warehouse with Drive-In Access

5502 37th Ave, Woodside, NY 11377

Contact for pricing

5,000 SF

View details

Warehouse with Drive-In Door

3252 58th St, Woodside, NY 11377

Contact for pricing

5,000 SF

View details

Woodside Warehouse Space Available

6920 48th Ave, Woodside, NY

Contact for pricing

8,000 SF

View details

Triplex Property with Private Backyard

69-12 31st Avenue, Woodside, NY 11377

$1,380,000

View details

2-Family Brick Duplex

65-14 48th Ave, Woodside, NY 11377

$1,490,000

2,700 SF

View details

Triplex With Backyard

3231 58th Street, Woodside, NY 11377

$1,150,000

View details

Three-Family Home with Backyard

3233 58th Street, Woodside, NY 11377

$1,150,000

View details

Four-Story Apartment Building

52-06 Roosevelt Avenue, Woodside, NY 11377

$1,349,000

View details

Two-Unit Duplex Property

4311 56th St, Woodside, NY 11377

$1,298,888

2,048 SF

View details

Two-Unit Frame Duplex

4315 56th Street, Woodside, NY 11377

$1,298,888

2,048 SF

View details

Semi-Detached Three-Family Residence

6942 43rd Avenue, Woodside, NY 11377

$2,280,000

0.06 Acres

View details

Similar Off Market Nearby

• LuggageHero - Luggage storage Woodside — 54-09 Roosevelt Ave, Queens, NY 11377
• Bounce Luggage Storage — 5409 Roosevelt Ave, Queens, NY 11377
• ​Preferred Self Storage Unit — 59-08 woodside ave, queens, ny 11377
• Joseph Space Self Storage Facility — 61-27 Roosevelt Ave, Woodside, NY 11377
• Nearby Storage Units - Queens, NY — 39-07 65th pl, queens, ny 11377

Frequently Asked Questions

What type of property is this?

Warehouse - Easy access to the BQE and M-1 zoning support commercial operations.

Where is this warehouse located?

The property is located at 38-23 54th Street 1 Woodside, NY.

What is the asking price?

The asking price for this property is $1,395,000.

What are key features of this property?

This property features: 3,000 SF warehouse with 2,500 SF of primary space and a 500 SF unfinished office loft; 11‑foot entrance opening with ceilings reaching 20 feet; One roll‑up door plus two front doors