Elevator School
For Sale
$2,580,000
14-48 College Point Boulevard, College Point, NY 11356
Multi-level commercial property with classrooms, offices, finished support areas, and a playground.
Property Size6,225 SF
Days on Market220
Property Features for 14-48 College Point Boulevard
General Information
Standard status
Active
Size
6,225 SF
Elevators
Yes
Property subtype
Commercial
Zoning
R5B
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$60,819
Amenities
Central A/C
playground
rooftop space
Building Details
Building Size
6,225 SF
Year Built
1929
Buildings
1
Stories
3
Listing Agency:
Winzone Realty Inc
(347) 781-8888
Listed By:
Victoria Chang
(347) 781-8888
Source:
Cohenandcohenrealty
Added: Jan 13
Changed: Aug 21
Last Checked: Aug 21 at 3:14AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This multi-level commercial building includes approximately 2,600 SF on each of the first and second floors, a full finished basement, and storage on the third floor. An elevator serves multiple levels, while central air conditioning and a sprinkler system support the building’s existing infrastructure. The interior includes classrooms, offices, a school reception area, kitchen, utility spaces, and laundry equipment. A rear playground and additional rooftop space provide usable exterior areas.
Located at 14-48 College Point Boulevard in College Point, NY, the property has street exposure along College Point Boulevard. Its existing layout is configured for educational and arts-related operations, with additional spaces that can accommodate office, medical, religious, or community-oriented uses. The property is zoned R5B and was built in 1929.
Located at 14-48 College Point Boulevard in College Point, NY, the property has street exposure along College Point Boulevard. Its existing layout is configured for educational and arts-related operations, with additional spaces that can accommodate office, medical, religious, or community-oriented uses. The property is zoned R5B and was built in 1929.
Key Highlights
- Approximately 2,600 SF per floor on the 1st and 2nd floors
- Full finished basement with office, utility, laundry, and elevator machine room areas
- Elevator servicing multiple levels, central A/C, and sprinkler system
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
$204,951
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
7.94%
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%
$4,099,020
$4.1M
Cap Rate 7%
$2,927,871
$2.9M
Cap Rate 9%
$2,277,233
$2.3M
Market Conditions
NOI Build-Up for 6,225 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
$313.7K $50.40/SF
− Vacancy
−$40.5K −$6.50/SF
EGI
$273.3K $43.90/SF
− OpEx
−$68.3K −$10.97/SF
NOI
$205.0K $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%
$4,099,020
Cap Rate 7%
$2,927,871
Cap Rate 9%
$2,277,233
Alternative Uses
Best Use
Office B
$2.93M
$2.56M – $3.42M
NOI $204,951 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.59M
$4.02M – $5.35M
NOI $321,240 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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?
School - Multi-level commercial property with classrooms, offices, finished support areas, and a playground.
Where is this school located?
The property is located at 14-48 College Point Boulevard College Point, NY.
What is the asking price?
The asking price for this property is $2,580,000.
What are key features of this property?
This property features: Approximately 2,600 SF per floor on the 1st and 2nd floors; Full finished basement with office, utility, laundry, and elevator machine room areas; Elevator servicing multiple levels, central A/C, and sprinkler system
