Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31-00 47th Avenue Long Island City, NY 11101

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Specialty property available for rent in Long Island City.

    Type:Office
    Added:
    Jan 27, 2026
    Days on Market:
    66
    Last Refresh:
    Mar 4 at 9:40 pm

    Property Features for 31-00 47th Avenue

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Mitchell Arkin
    Mitchell Arkin

    Listing agent Mitchell Arkin

    Listing office

    Listing date Jan 27, 2026

    Source Cushmanwakefield

    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 Mitchell Arkin

    Overview

    Long Island City Specialty Property

    Located in Long Island City, this specialty property at 31-00 47th Avenue is available for rent. The property is classified under specialty property types.
    Location Intelligence

    Current Use by Public Records

    UpGrade Communications Marketing & Advertising AECOM Engineering Consultant Trivino Law Firm ... Law Firm Metasquare Inc (Bike/Boat/Book/etc) Store Hailify (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.9539
    Latitude
    40.7458

    Nearby Similar for Lease

    • Contact for pricing

      Long Island City Industrial Warehouse

      Industrial warehouse space for lease in Long Island City.
      38-59 9th Street, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Retail Storefront in Long Island City

      Retail storefront in Long Island City with high foot traffic.
      28-09 39th Avenue unit: C, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Long Island City Office Suite

      Move-in ready office space in Long Island City.
      2525 Borden Ave unit: #221, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Long Island City Office Suite

      Move-in ready office space in the heart of Long Island City.
      2525 Borden Ave unit: 207, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Long Island City Office Suite

      Move-in ready office space in the heart of Long Island City.
      2525 Borden Ave unit: 217, Long Island City, NY 11101
      View Details
    • $130/mo

      Prime Corner Retail Space Available

      High-visibility corner retail space in Long Island City.
      25-08 43rd Avenue, Long Island City, NY 11101
      View Details
    • $43/mo

      Flushing Community Facility Space

      Ground-floor community facility space with open layout and dual entrances.
      142-05 45Th Ave, Queens, NY 11355
      View Details
    • Contact for pricing

      Creative Loft Office in LIC

      Creative loft office with 14-foot ceilings and skyline views.
      37-24 24Th St, Long Island City, NY 11101
      View Details
    • Sponsored
      Contact for pricing

      NY, Long Island City- Gaseteria Works

      30-10 41St Ave, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Astoria Warehouse with High Ceilings

      Astoria warehouse with soaring ceilings and heavy power for lease.
      2636 2Nd St, Astoria, NY 11102
      View Details
    • Sponsored
      Contact for pricing

      Sapes Long Island City

      31-00 47Th Ave, Unit FALCHI, Long Island City, NY 11101
      View Details
    • Sponsored
      Contact for pricing

      NY, Astoria - 36th Avenue

      35-01 36Th Ave, Queens, NY 11106
      View Details

    FAQs

    What type of property is this?
    Specialty property - Specialty property available for rent in Long Island City.
    Where is this specialty property located?
    The property is located at 31-00 47th Avenue Long Island City, NY.
    What are key features of this property?
    This property features: Specialty property available for rent.; Located in Long Island City.; Built in 1920.
    (212) 841-7522
    We can help!
    Listing Contact
    Mitchell Arkin
    Mitchell Arkin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!