Industrial-Office Property with Loading
33-09 37th Avenue Long Island City, NY 11101
33-09 37th Avenue, Long Island City, NY, 11101
$5,980,000
For Sale
$5,980,000
Industrial/office building featuring finished office space, 18'+ ceilings, a loading dock, and a roof deck.
Property Size9,566 SF
Price / SF$625.13
Days on Market16
Property Features for 33-09 37th Avenue
General Information
- Standard status
- Active
- Size
- 9,566 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing agency
NY Space Finders Inc
(516) 992-2888
Listed by
Luca DiCiero ([email protected])
Source
Iaquintarealestate
Added: Jul 7 Updated: Jul 21 at 12:48AM Checked: Jul 22 at 4:50AM
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 NY Space Finders Inc
Investment Insights
Based on property information with market context.
A 9,566 SF industrial/office property offering a finished office designed for immediate occupancy, along with capital improvements that include a new kitchen buildout. The building features 18'+ ceilings, a loading dock, and a roof deck, supported by more than $1,000,000 invested in upgrades.
Located at 33-09 37th Avenue in Long Island City, the property is minutes from LaGuardia Airport with direct access to the LIE and BQE. It is also steps from the M, N, R, and W subway lines, and offers approximately 78’ of frontage for visibility and accessibility. The property is zoned M1-1.
An existing ICAP tax abatement is currently in place. The property is listed as only two blocks from the Innovation QNS mega-project.
Located at 33-09 37th Avenue in Long Island City, the property is minutes from LaGuardia Airport with direct access to the LIE and BQE. It is also steps from the M, N, R, and W subway lines, and offers approximately 78’ of frontage for visibility and accessibility. The property is zoned M1-1.
An existing ICAP tax abatement is currently in place. The property is listed as only two blocks from the Innovation QNS mega-project.
Key Highlights
- 9,566 SF industrial/office property built in 1950 with finished office space for immediate occupancy
- 18'+ ceilings plus loading dock and roof deck
- Over $1,000,000 invested in capital improvements, including finished office and new kitchen buildouts
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $482.1k | $50.40 |
| − Vacancy | −$62.2k | −$6.50 |
| EGI | $419.9k | $43.90 |
| − OpEx | −$105.0k | −$10.97 |
| NOI | $314.9k | $32.92 |
9,566 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.50M
$3.94M – $5.25M
NOI $314,949 @ 7.0% cap · market cap 5.27%
Second Best
Flex RnD
$2.17M
$1.90M – $2.53M
NOI $151,841 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$7.05M
$6.17M – $8.23M
NOI $493,652 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
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FAQs
What type of property is this?
Flex space - Industrial/office building featuring finished office space, 18'+ ceilings, a loading dock, and a roof deck.
Where is this flex space located?
The property is located at 33-09 37th Avenue Long Island City, NY.
What is the asking price?
The asking price for this property is $5,980,000.
What are key features of this property?
This property features: 9,566 SF industrial/office property built in 1950 with finished office space for immediate occupancy; 18'+ ceilings plus loading dock and roof deck; Over $1,000,000 invested in capital improvements, including finished office and new kitchen buildouts
