Turnkey Industrial Building with Heavy
For Sale
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254 HENRY ST, Inwood, NY 11096
Turnkey industrial building with heavy power, clean warehouse space, and direct access to JFK and the Nassau/Queens border.
Property Size8,066 SF
Lot Size0.36 Acres
Price / SF$446.32
Days on Market96
Property Features for 254 HENRY ST
General Information
Standard status
Active
Size
8,066 SF
Class
B
Lot size
0.36 Acres
Property subtype
Industrial
Zoning
Industrial
Investment Type
Owner/User
Additional Details
Business Included
Yes
Heavy Power
Yes
Building Details
Year Built
1988
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Michael Tuccillo · License #NY 10401244358
(212) 430-5196
Source:
Crexi
Added: Jun 22
Changed: Sep 23
Last Checked: Sep 24 at 7:40AM
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.
254 Henry Street presents a turnkey industrial facility designed for immediate operations. The offering includes approximately 8,066 SF of warehouse space with heavy power, supporting users that require dependable electrical capacity and a clean, functional layout for day-to-day work. The property is situated on an approximately 0.36-acre lot, which includes parking and room to support outdoor storage potential, along with efficient truck circulation for smoother inbound and outbound activity.
Access is a key attribute. The building provides direct access to JFK and the Nassau/Queens border, positioning it for tenants and owner-operators who value connectivity to the airport area and cross-borough routes.
This configuration can fit a range of users that need practical logistics and reliable power, including contractors, logistics groups, aviation-adjacent businesses, and specialty trades. For an owner-occupant seeking a property that is ready to use without waiting for upgrades, the combination of clean warehouse space, heavy power, and functional site circulation is well suited to hands-on industrial operations.
Access is a key attribute. The building provides direct access to JFK and the Nassau/Queens border, positioning it for tenants and owner-operators who value connectivity to the airport area and cross-borough routes.
This configuration can fit a range of users that need practical logistics and reliable power, including contractors, logistics groups, aviation-adjacent businesses, and specialty trades. For an owner-occupant seeking a property that is ready to use without waiting for upgrades, the combination of clean warehouse space, heavy power, and functional site circulation is well suited to hands-on industrial operations.
Key Highlights
- 1988‑built, 8,066 SF industrial building
- Approx. 0.36‑acre lot with on‑site parking and efficient truck circulation
- Clean warehouse space with heavy power
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
$140,171
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
3.89%
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%
$2,803,420
$2.8M
Cap Rate 7%
$2,002,443
$2.0M
Cap Rate 9%
$1,557,456
$1.6M
Market Conditions
NOI Build-Up for 8,066 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
$177.1K $21.96/SF
− Vacancy
−$12.2K −$1.52/SF
EGI
$164.9K $20.44/SF
− OpEx
−$24.7K −$3.07/SF
NOI
$140.2K $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%
$2,803,420
Cap Rate 7%
$2,002,443
Cap Rate 9%
$1,557,456
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,171 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.33M
$4.67M – $6.22M
NOI $373,315 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,439
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11096, NY
9,645
Population
2,706
Households
3.6
Avg Household Size
33
Median Age
28%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
8,038
Density / Sq Mi
$88,160
Median Household Income
$40,754
Median Earnings
$1,944
Median Rent
$604,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Turnkey industrial building with heavy power, clean warehouse space, and direct access to JFK and the Nassau/Queens border.
Where is this warehouse located?
The property is located at 254 HENRY ST Inwood, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 1988‑built, 8,066 SF industrial building; Approx. 0.36‑acre lot with on‑site parking and efficient truck circulation; Clean warehouse space with heavy power
