Multi-Tenant Distribution
For Sale
Contact for pricing
250 Fulton Avenue, New Hyde Park, NY 11040
Masonry construction and dedicated loading infrastructure support industrial occupancy.
Property Size87,480 SF
Lot Size2.86 Acres
Price / SF$262.92
Days on Market90
Property Features for 250 Fulton Avenue
General Information
Standard status
Active
Size
87,480 SF
Class
B
Lot size
2.86 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Warehouse & Industrial
Clear Height
16 ft
Dock-High Doors
7
Drive-In Doors
3
Power
1,200 amps
Heavy Power
Yes
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1966
Buildings
2
Stories
7
Units
247
Tenancy
Multi
Building Size
87,480 SF
Construction
masonry
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Michael Tuccillo · License #NY 10401244358
Source:
Crexi
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 3:34PM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This multi-tenant distribution center comprises an approximately 87,480-square-foot masonry building on 2.86 acres. The facility was built in 1966 and includes seven loading docks, three drive-in doors, 16-foot clear height with 20 feet to decking, 1,200-amp heavy power, gas heat, and full sprinkler coverage.
Located at 250 Fulton Avenue in New Hyde Park, the property offers access to I-495, the Northern State Parkway, and major routes serving Queens, Brooklyn, and Manhattan. The Queens border is approximately 5 minutes away, while Manhattan is reachable in about 40 minutes by car.
Located at 250 Fulton Avenue in New Hyde Park, the property offers access to I-495, the Northern State Parkway, and major routes serving Queens, Brooklyn, and Manhattan. The Queens border is approximately 5 minutes away, while Manhattan is reachable in about 40 minutes by car.
Key Highlights
- Approximately 87,480 SF GLA masonry distribution building on 2.86 acres
- Seven loading docks and three drive‑in doors
- 16' clear height; 20' to decking
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
$1,520,231
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
6.61%
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%
$30,404,620
$30.4M
Cap Rate 7%
$21,717,586
$21.7M
Cap Rate 9%
$16,891,456
$16.9M
Market Conditions
NOI Build-Up for 87,480 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
$1.92M $21.96/SF
− Vacancy
−$132.6K −$1.52/SF
EGI
$1.79M $20.44/SF
− OpEx
−$268.3K −$3.07/SF
NOI
$1.52M $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
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%
$30,404,620
Cap Rate 7%
$21,717,586
Cap Rate 9%
$16,891,456
Alternative Uses
Best Use
Warehouse
$21.72M
$19.00M – $25.34M
NOI $1,520,231 @ 7.0% cap · market cap 6.61%
Second Best
Industrial
$17.89M
$15.65M – $20.87M
NOI $1,251,955 @ 7.0% cap · market cap 5.44%
Theoretical Best
Specialty Retail
$57.84M
$50.61M – $67.48M
NOI $4,048,793 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
7
Dock-high doors
3
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 11040, NY
43,075
Population
14,608
Households
2.9
Avg Household Size
45
Median Age
56%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
8,974
Density / Sq Mi
$153,511
Median Household Income
$70,649
Median Earnings
$2,388
Median Rent
$795,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - Masonry construction and dedicated loading infrastructure support industrial occupancy.
Where is this distribution center located?
The property is located at 250 Fulton Avenue New Hyde Park, NY.
What is the asking price?
The asking price for this property is $23,000,000.
What are key features of this property?
This property features: Approximately 87,480 SF GLA masonry distribution building on 2.86 acres; Seven loading docks and three drive‑in doors; 16' clear height; 20' to decking
