Retail Storefront
For Sale
$1,696,000
2914 39TH AVE, Long Island City, NY 11101
Retail storefront unit for sale with walkable access to N, W, F and 7 trains and local buses.
Property Size2,828 SF
Price / SF$599.72
Days on Market205
Property Features for 2914 39TH AVE
General Information
Standard status
Active
Size
2,828 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$7,212
Amenities
Central Air
3
Listing Agency:
E Realty International Corp
(646) 688-8998
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Xome
Added: Jan 23
Changed: Aug 12
Last Checked: Aug 15 at 4:21AM
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.
Available for sale is a prime retail storefront unit, Unit C, at 2914 39TH AVE in Long Island City, NY 11101. The space is configured as retail storefront real estate and totals 2,828 square feet.
The property is described as having convenient access to nearby transportation, with N, W, F and 7 trains and local buses within walking distance. This makes the unit well-suited for retailers seeking an accessible location for customers and employees.
For a complete review of layout and condition details, please contact the listing broker to schedule a showing and discuss how the storefront can be adapted for your intended use.
The property is described as having convenient access to nearby transportation, with N, W, F and 7 trains and local buses within walking distance. This makes the unit well-suited for retailers seeking an accessible location for customers and employees.
For a complete review of layout and condition details, please contact the listing broker to schedule a showing and discuss how the storefront can be adapted for your intended use.
Key Highlights
- Retail storefront unit for sale in Long Island City
- Walkable access to N, W, F and 7 subway trains plus local buses
- Central air cooling
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
6,495
Businesses Nearby
148k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Hotels & Casinos 21%
Groceries 14%
Dining 10%
Key Food Supermarkets
Groceries
20,650 visits/mo
0.4 miles
Bank of America
Shops & Services
12,249 visits/mo
0.3 miles
BP
Shops & Services
11,939 visits/mo
0.5 miles
Shell
Shops & Services
11,847 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,306 visits/mo
0.4 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.
Similar Off Market Nearby
- 1-800-Flowers — 3601 47th Ave, Long Island City, NY 11101
- Brett Leemkuil — 4536 39th Pl, Sunnyside, NY 11104
- The microfarm cremary — 35-01 Queens Blvd, Queens, NY 11101
- E-Z Flowers Inc. — 4545 36th st, long island city, ny 11101
- Tin Can Studios — 47-10 32nd Pl Suite 302, Queens, NY 11101
Frequently Asked Questions
What type of property is this?
Storefront property - Retail storefront unit for sale with walkable access to N, W, F and 7 trains and local buses.
Where is this storefront property located?
The property is located at 2914 39TH AVE 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: Retail storefront unit for sale in Long Island City; Walkable access to N, W, F and 7 subway trains plus local buses; Central air cooling
