Retail Storefront
For Sale
$1,696,000
28-09 39th Avenue #C, Long Island City, NY 11101
Storefront space within walking distance of multiple subway lines and local bus service.
Property Size2,828 SF
Days on Market207
Property Features for 28-09 39th Avenue #C
General Information
Standard status
Active
Size
2,828 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,211
Building Details
Building Size
2,828 SF
Listing Agency:
E Realty International Corp
(646) 688-8998
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Callexitfirst
Added: Feb 3
Changed: Aug 28
Last Checked: Aug 25 at 9:11AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This storefront unit is located at 28-09 39th Avenue #C in Long Island City, NY 11101. The property is classified as a storefront asset and is positioned for commercial occupancy or ownership use.
Access to the N, W, F, and 7 trains, along with local buses, is available within walking distance. The transit connectivity provides a defined location characteristic for businesses seeking a Long Island City address with nearby public transportation.
Access to the N, W, F, and 7 trains, along with local buses, is available within walking distance. The transit connectivity provides a defined location characteristic for businesses seeking a Long Island City address with nearby public transportation.
Key Highlights
- Storefront unit at 28‑09 39th Avenue #C, Long Island City, NY 11101
- N, W, F, and 7 trains are within walking distance
- Local bus service is also within walking distance
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
$50,480
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
2.98%
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%
$1,009,600
$1.0M
Cap Rate 7%
$721,143
$721.1K
Cap Rate 9%
$560,889
$560.9K
Market Conditions
NOI Build-Up for 2,828 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
$84.8K $30.00/SF
− Vacancy
−$12.7K −$4.50/SF
EGI
$72.1K $25.50/SF
− OpEx
−$21.6K −$7.65/SF
NOI
$50.5K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,009,600
Cap Rate 7%
$721,143
Cap Rate 9%
$560,889
Alternative Uses
Best Use
Retail
$721.1K
$631.0K – $841.3K
NOI $50,480 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,938 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,878
Businesses Nearby
132k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Hotels & Casinos 24%
Groceries 16%
Dining 11%
Key Food Supermarkets
Groceries
20,650 visits/mo
0.4 miles
Bank of America
Shops & Services
12,249 visits/mo
0.4 miles
Shell
Shops & Services
11,847 visits/mo
0.2 miles
Dunkin' Donuts
Dining
9,306 visits/mo
0.3 miles
BP
Shops & Services
9,305 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront space within walking distance of multiple subway lines and local bus service.
Where is this storefront property located?
The property is located at 28-09 39th Avenue #C Long Island City, NY.
What is the asking price?
The asking price for this property is $1,696,000.
What are key features of this property?
This property features: Storefront unit at 28‑09 39th Avenue #C, Long Island City, NY 11101; N, W, F, and 7 trains are within walking distance; Local bus service is also within walking distance
