Two-Story Flex Space
For Sale
Contact for pricing
2525 Borden Ave, Long Island City, NY 11101
Two-story configuration combines industrial spaces with office space.
Property Size40,000 SF
Price / SF$325
Days on Market734
Property Features for 2525 Borden Ave
General Information
Standard status
Active
Size
40,000 SF
Property subtype
INDUSTRIAL
Additional Details
Office Units
15
Building Details
Buildings
1
Stories
2
Listing Agency:
ARM Real Estate Group
(212) 464-8815
Listed By:
Anand Melwani · License #49ME1182035
Source:
Moodyscre
Added: Sep 12, 2024
Changed: Sep 6
Last Checked: Sep 15 at 10:45AM
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 ARM Real Estate Group
Investment Insights
Based on property information with market context.
This two-story flex space building contains 40,000 SF with a configuration of 3 industrial spaces and 15 offices. The property combines industrial and office components within a single building, supporting a range of operational and administrative functions.
Located at 2525 Borden Ave in Long Island City, Queens, the property offers a defined industrial and office presence in an established New York City commercial location.
Located at 2525 Borden Ave in Long Island City, Queens, the property offers a defined industrial and office presence in an established New York City commercial location.
Key Highlights
- 40,000 SF two‑story flex space building
- 3 industrial spaces
- 15 offices
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
$634,920
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
4.88%
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%
$12,698,400
$12.7M
Cap Rate 7%
$9,070,286
$9.1M
Cap Rate 9%
$7,054,667
$7.1M
Market Conditions
NOI Build-Up for 40,000 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
$1.06M $26.40/SF
− Vacancy
−$79.2K −$1.98/SF
EGI
$976.8K $24.42/SF
− OpEx
−$341.9K −$8.55/SF
NOI
$634.9K $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%
$12,698,400
Cap Rate 7%
$9,070,286
Cap Rate 9%
$7,054,667
Alternative Uses
Best Use
Office B
$18.81M
$16.46M – $21.95M
NOI $1,316,952 @ 7.0% cap · market cap 10.13%
Second Best
Flex RnD
$9.07M
$7.94M – $10.58M
NOI $634,920 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$29.49M
$25.80M – $34.40M
NOI $2,064,192 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15
Office units
Location Intelligence
Trade Area within ½ mile
4,261
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story configuration combines industrial spaces with office space.
Where is this flex space located?
The property is located at 2525 Borden Ave Long Island City, NY.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: 40,000 SF two‑story flex space building; 3 industrial spaces; 15 offices
