Two-Story Flex
For Sale
Contact for pricing
Pending
28-44 Borden Ave, Long Island City, NY 11101
Warehouse, office, and flex components occupy two levels with four bathrooms and new HVAC.
Property Size11,524 SF
Lot Size0.13 Acres
Days on Market191
Property Features for 28-44 Borden Ave
General Information
Standard status
Pending
Size
11,524 SF
Class
B
Elevators
Yes
Lot size
0.13 Acres
Property subtype
Industrial
Zoning
M1-3
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$204,403
Amenities
4 bathrooms
New HVAC
elevator
rooftop
Building Details
Year Built
1931
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Building Size
11,524 SF
Listing Agency:
East Coast New York Inc.
Listed By:
Eric Li · License #10301218578
(917) 974-0992
Source:
Crexi
Added: Apr 12
Changed: Oct 16
Last Checked: Oct 19 at 6:56AM
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 East Coast New York Inc.
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Investment Insights
Based on property information with market context.
This two-level flex property combines warehouse, office, and flexible commercial space within a 5,850 SF lot measuring 99.6’ x 154’ IRR. The ground floor contains 5,750 SF, with an additional 5,750 SF on the second floor. The building includes four bathrooms, new HVAC, an elevator, and a rooftop.
Located on Borden Ave in Long Island City, the property carries M1-3 zoning with a 5X commercial FAR and 6.5X facility FAR. The maximum buildable area is 29,250 SF, and the property includes 17,726 SF of air rights. Two short leases are in place.
Located on Borden Ave in Long Island City, the property carries M1-3 zoning with a 5X commercial FAR and 6.5X facility FAR. The maximum buildable area is 29,250 SF, and the property includes 17,726 SF of air rights. Two short leases are in place.
Key Highlights
- 5,850 SF lot with 99.6’ x 154’ IRR dimensions
- 5,750 SF ground floor and 5,750 SF second floor
- M1‑3 zoning with 5X commercial FAR and 6.5X facility FAR
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,920
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,658,400
$3.7M
Cap Rate 7%
$2,613,143
$2.6M
Cap Rate 9%
$2,032,444
$2.0M
Market Conditions
NOI Build-Up for 11,524 SF
Gross rent
$304.2K $26.40/SF
− Vacancy
−$22.8K −$1.98/SF
EGI
$281.4K $24.42/SF
− OpEx
−$98.5K −$8.55/SF
NOI
$182.9K $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 Rate 5%
$3,658,400
Cap Rate 7%
$2,613,143
Cap Rate 9%
$2,032,444
Alternative Uses
Best Use
Office B
$5.42M
$4.74M – $6.32M
NOI $379,414 @ 7.0% cap · market cap 10.69%
Second Best
Flex RnD
$2.61M
$2.29M – $3.05M
NOI $182,920 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$8.50M
$7.43M – $9.91M
NOI $594,694 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,414
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse, office, and flex components occupy two levels with four bathrooms and new HVAC.
Where is this flex space located?
The property is located at 28-44 Borden Ave Long Island City, NY.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 5,850 SF lot with 99.6’ x 154’ IRR dimensions; 5,750 SF ground floor and 5,750 SF second floor; M1‑3 zoning with 5X commercial FAR and 6.5X facility FAR
