Building Details

Building Size 2,828 SF

Listing Agency: E Realty International Corp s***@hotmail.com Show Phone

Listed By: Hsin Yuan Yang · License #10311205376 Show Phone

Source: Croninreale

Added: Feb 3 Changed: Oct 23 Last Checked: Oct 23 at 3:32PM

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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

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Investment Insights

Based on property information with market context.

The offering is a storefront retail unit at 28-09 39th Avenue #C in Long Island City, New York. It is available for sale.

The N, W, F, and 7 subway lines and local bus service are within walking distance.

Key Highlights

• Storefront retail unit at 28‑09 39th Avenue #C, Long Island City, NY 11101
• Walkable access to the N, W, F, and 7 subway lines
• Local bus service is within walking distance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,480

Cap Rate

3.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,009,600 $1.0M

Cap Rate 7%

$721,143 $721.1K

Cap Rate 9%

$560,889 $560.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,828 SF

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 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 (±1% cap)

NOI $50,480 @ 7.0% cap · market cap 3.19%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.08M

$1.82M – $2.43M (±1% cap)

NOI $145,938 @ 7.0% cap · market cap 9.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Acupuncture Nursing Home Clothing & Fashion Store Pet Grooming Service (Bike/Boat/Book/etc) Store Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Subway service on the N, W, F, and 7 lines, along with local buses, is within walking distance.

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 $1,580,000.

What are key features of this property?

This property features: Storefront retail unit at 28‑09 39th Avenue #C, Long Island City, NY 11101; Walkable access to the N, W, F, and 7 subway lines; Local bus service is within walking distance