Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Long Island City Retail Space Title is generated by Realmo AI

    33-24 Northern Blvd, Long Island City, NY 11101

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    35,000 SF retail space in Long Island City.

    Type:RETAIL
    Property size:
    35,000 SF
    Price / SF:
    $271/SF
    Added:
    Apr 24, 2026
    Days on Market:
    34
    Last Refresh:
    May 8 at 3:34 am

    Property Features for 33-24 Northern Blvd

    General Information

    Standard status
    Active
    Size
    35,000 SF
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Kelly Koukou
    Kelly Koukou

    Listing agent Kelly Koukou

    Listing office Lee & Associates | Long Island

    Listing date Apr 24, 2026

    Source Moodyscre

    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 Lee & Associates | Long Island

    HighLights

    • 35,000 SF retail space
    • Located in Long Island City

    Overview

    This commercial property offers 35,000 square feet of retail space and is located in Long Island City, New York.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $6.94M
    NOI $624,750 @ 9.00% cap · cautious / downside scenario
    Moderate
    $8.93M
    NOI $624,750 @ 7.00% cap · market / base-case scenario
    Aggressive
    $12.50M
    NOI $624,750 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $1.05M $30.00
    − Vacancy −$157.5k −$4.50
    EGI $892.5k $25.50
    − OpEx −$267.8k −$7.65
    NOI $624.8k $17.85
    35,000 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $8.93M
    $7.81M – $10.41M (±1% cap)
    NOI $624,750 @ 7.0% cap · market cap 6.58%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $25.80M
    $22.58M – $30.10M (±1% cap)
    NOI $1,806,168 @ 7.0% cap · market cap 19.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Hanac Taxi Academy Training Center Pre-Licensing Course, LLC. High School GoGreenRide Car Rental Facility NuRideMT Freight Service NuRide Transportation Group, ... Freight Service

    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
    -73.934759
    Latitude
    40.751358

    Nearby Similar for Sale

    • $3,999,999

      Long Island City Commercial Building

      Industrial building with commercial kitchen and office space for sale.
      8-07 38th Avenue, Long Island City, NY 11101
      View Details
    • $2,075,000
      2,000 SF

      Two-Family Home in Long Island

      Vacant two-family home with customization potential in prime location.
      44-66 23rd Street, Long Island City, NY 11101
      View Details
    • $4,000,000
      4,300 SF

      Long Island City Retail Property

      Retail property near subway and LIRR in Long Island City.
      21-01 49th Ave, Long Island City, NY 11101
      View Details
    • $1,696,000

      Retail Storefront in Long Island

      Prime retail storefront unit for sale in Long Island City.
      28-09 39th Avenue, Long Island City, NY 11101
      View Details
    • $1,499,000

      Long Island City Multifamily Building

      Six-family building in Long Island City, right off Jackson Avenue.
      11-21 47th Road, Long Island City, NY 11101
      View Details
    • $1,100,000

      Long Island City Triplex Opportunity

      Three-family property in Long Island City with investment potential.
      2123 33rd Avenue, Long Island City, NY 11106
      View Details
    • $1,750,000
      2,400 SF

      3263 41st Street, Astoria, Long Island City NY 11103 Multi Family Apartments

      32-63 41St St, Long Island City, NY 11103
      View Details
    • $1,588,000

      Long Island City Multifamily Property

      Multifamily property in Long Island City, Queens.
      48-72 37th Street, Long Island City, NY 11101
      View Details
    • $855,600

      Long Island City Duplex

      Duplex with three bedrooms, eat-in kitchen, and garage.
      24-11 37th Avenue, Long Island City, NY 11101
      View Details
    • $5,800,000
      2,400 SF

      Queens Retail Property For Sale

      Commercial property in Queens, New York, available for purchase.
      121-01 121st Ave, Queens, NY
      View Details
    • $1,800,000

      Long Island City Mixed-Use Property

      Three-family house with storefront near LIRR station.
      3617 Greenpoint Avenue, Long Island City, NY 11101
      View Details
    • $5,500,000
      2,500 SF

      Investment Opportunity: 4-Unit Apartment Building For Sale

      Four apartments and retail space in Hunters Point, Queens.
      Hunters point, Queens, NY 11101
      View Details

    FAQs

    What type of property is this?
    Retail space - 35,000 SF retail space in Long Island City.
    Where is this retail space located?
    The property is located at 33-24 Northern Blvd Long Island City, NY.
    What is the asking price?
    The asking price for this property is $9,500,000.
    What are key features of this property?
    This property features: 35,000 SF retail space; Located in Long Island City
    (516) 835-7833 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kelly Koukou
    Kelly Koukou
    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

    Thank You for Inquiry
    33-24 Northern Blvd, Long Island City, NY 11101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!