Queens Flex Space For
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213-08 99th Ave, Queens, NY 11429
Flex space suitable for industrial, R&D, office, or medical use.
Property Size6,225 SF
Price / SF$353.41
Days on Market1664
Property Features for 213-08 99th Ave
General Information
Standard status
Active
Size
6,225 SF
Property subtype
Industrial
Zoning
R3-2
Building Details
Stories
1
Listing Agency:
Helmsley Spear of Long Island
(516) 203-8134
Listed By:
David Sargoy · License #NY
Source:
Crexi
Added: Feb 10, 2022
Changed: Aug 22
Last Checked: Aug 28 at 1:11PM
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 Helmsley Spear of Long Island
Investment Insights
Based on property information with market context.
This 6,225 square-foot flex space is suitable for industrial, research and development, office, or medical use. The property is located one block from Jamaica Avenue and in close proximity to JFK airport.
Key Highlights
- Ideal for industrial, R&D, office, or medical use
- Located 1 block from Jamaica Ave
- Close proximity to JFK
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
$98,809
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
4.49%
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%
$1,976,180
$2.0M
Cap Rate 7%
$1,411,557
$1.4M
Cap Rate 9%
$1,097,878
$1.1M
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
$164.3K $26.40/SF
− Vacancy
−$12.3K −$1.98/SF
EGI
$152.0K $24.42/SF
− OpEx
−$53.2K −$8.55/SF
NOI
$98.8K $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 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%
$1,976,180
Cap Rate 7%
$1,411,557
Cap Rate 9%
$1,097,878
Alternative Uses
Best Use
Flex RnD
$1.41M
$1.24M – $1.65M
NOI $98,809 @ 7.0% cap · market cap 4.49%
Second Best
Industrial
$559.4K
$489.5K – $652.7K
NOI $39,161 @ 7.0% cap · market cap 1.78%
Theoretical Best
Office A
$4.59M
$4.02M – $5.35M
NOI $321,240 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11429, NY
25,895
Population
8,601
Households
3
Avg Household Size
41
Median Age
27%
College-Educated
84%
High-School Grad
1.3 sq mi
ZIP Area
19,919
Density / Sq Mi
$98,232
Median Household Income
$45,053
Median Earnings
$1,605
Median Rent
$646,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Auntie Coleen's Kitchen LLC — 11329 205th St, St. Albans, NY 11412
- LabadI Restaurant & Lounge (CORMIER) — 207-13 Jamaica Ave, Queens Village, NY 11428
- Our Village Roti Shop — 21161 Jamaica Ave, Queens Village, NY 11428
- Antun’s — 96-43 Springfield Blvd, Queens, NY 11429
Frequently Asked Questions
What type of property is this?
Flex space - Flex space suitable for industrial, R&D, office, or medical use.
Where is this flex space located?
The property is located at 213-08 99th Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Ideal for industrial, R&D, office, or medical use; Located 1 block from Jamaica Ave; Close proximity to JFK
