Modern Office Building Built
For Sale
$1,799,999
15046 14TH AVE, Whitestone, NY 11357
Built in 2016, this well-maintained office building is positioned in Whitestone’s established business district.
Property Size4,202 SF
Lot Size0.07 Acres
Price / SF$428.37
Days on Market236
Property Features for 15046 14TH AVE
General Information
Standard status
Active
Size
4,202 SF
Lot size
0.07 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$8,427
Amenities
Central Air
3
Building Details
Year Built
2016
Listing Agency:
Century Homes Realty Group LLC
(718) 886-6800
Listed By:
Dong Zheng
(917) 703-6823
Source:
Xome
Added: Jan 11
Changed: Sep 4
Last Checked: Sep 4 at 4:44AM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This modern office building was constructed in 2016 and is described as well-maintained. The property includes a 20’ x 75’ building on a 20’ x 150’ lot, providing approximately 4,202 square feet of usable commercial space. It’s positioned for investors or owner-users seeking long-term value, with remarks citing low property taxes and solid rental income.
Located at 15046 14th Ave, Flushing, NY 11357, the building is set along one of Whitestone’s most active commercial corridors. The property benefits from excellent visibility and consistent pedestrian and vehicular traffic, with close proximity to public transportation, including multiple bus routes and nearby subway access. The surrounding area is described as a strong mix of retail, professional, and service-oriented businesses.
The combination of a newer build, active corridor exposure, and nearby transit access supports a range of commercial uses, as outlined in the seller’s remarks.
Located at 15046 14th Ave, Flushing, NY 11357, the building is set along one of Whitestone’s most active commercial corridors. The property benefits from excellent visibility and consistent pedestrian and vehicular traffic, with close proximity to public transportation, including multiple bus routes and nearby subway access. The surrounding area is described as a strong mix of retail, professional, and service-oriented businesses.
The combination of a newer build, active corridor exposure, and nearby transit access supports a range of commercial uses, as outlined in the seller’s remarks.
Key Highlights
- Built in 2016, well‑maintained commercial office building in Whitestone’s established business district
- 20’ x 150’ lot with a 20’ x 75’ building and approximately 4,202 SF of usable commercial space
- Central air cooling
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
$138,346
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
7.69%
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%
$2,766,920
$2.8M
Cap Rate 7%
$1,976,371
$2.0M
Cap Rate 9%
$1,537,178
$1.5M
Market Conditions
NOI Build-Up for 4,202 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
$211.8K $50.40/SF
− Vacancy
−$27.3K −$6.50/SF
EGI
$184.5K $43.90/SF
− OpEx
−$46.1K −$10.97/SF
NOI
$138.3K $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%
$2,766,920
Cap Rate 7%
$1,976,371
Cap Rate 9%
$1,537,178
Alternative Uses
Best Use
Office B
$1.98M
$1.73M – $2.31M
NOI $138,346 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,843 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
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 - Built in 2016, this well-maintained office building is positioned in Whitestone’s established business district.
Where is this office building located?
The property is located at 15046 14TH AVE Whitestone, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Built in 2016, well‑maintained commercial office building in Whitestone’s established business district; 20’ x 150’ lot with a 20’ x 75’ building and approximately 4,202 SF of usable commercial space; Central air cooling
