Office Building with Central
For Sale
$1,799,999
15046 14th Avenue, Whitestone, NY 11357
Commercial Sale, Whitestone, NY
Property Size4,202 SF
Lot Size0.07 Acres
Price / SF$428.37
Days on Market225
Property Features for 15046 14th Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C2-2
Rooms
Basement
Basement
Finished
Standard status
Active
APN
04678-0005
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8427
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2016
Floors in Building
3
Building materials
Block, Brick
Listing Agency:
Century Homes Realty Group LLC · EXIT Realty
(718) 886-6800
Listed By:
Dong Zheng
(917) 703-6823
Added: Jan 13
Changed: Aug 19
Last Checked: Aug 26 at 8:06AM
MLS# 951542
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office building at 15046 14th Avenue includes approximately 4,202 square feet of commercial space within a 20' x 75' building on a 20' x 150' lot. Completed in 2016, the property has block and brick construction, central air conditioning, natural gas heat, and a basement. Public water and public sewer serve the site. The property is zoned C2-2.
The building is positioned along a commercial corridor in Whitestone, with pedestrian and vehicular activity described in the surrounding area. Multiple bus routes and nearby subway access provide public transportation connections. The broader business district includes retail, professional, and service-oriented businesses.
The building is positioned along a commercial corridor in Whitestone, with pedestrian and vehicular activity described in the surrounding area. Multiple bus routes and nearby subway access provide public transportation connections. The broader business district includes retail, professional, and service-oriented businesses.
Key Highlights
- Approximately 4,202 square feet of commercial space
- 20' x 150' lot with a 20' x 75' building
- Built in 2016 with block and brick construction
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 - A 2016-built commercial property with central air, public utilities, and basement space.
Where is this office building located?
The property is located at 15046 14th Avenue 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: Approximately 4,202 square feet of commercial space; 20' x 150' lot with a 20' x 75' building; Built in 2016 with block and brick construction
