Storefront Property with Loading
New
For Sale
$4,680,000
37-14 34th St 1st FL, Queens, NY 11101
Class B commercial space provides separate entry points and dedicated loading capability for flexible operations.
Property Size109,564 SF
Price / SF$357.14
Days on Market2
Property Features for 37-14 34th St 1st FL
General Information
Standard status
Active
Size
109,564 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$42,286
Amenities
two separate entrances
dedicated loading berth
Building Details
Building Size
109,564 SF
Year Built
2019
Listing Agency:
E Realty International Corp
(646) 688-8998
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 3:21AM
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.
This Class B storefront property occupies the first floor and contains approximately 13,104 gross square feet. Built in 2019, the space has two separate entrances serving 33rd and 34th Street, along with a dedicated loading berth that supports receiving and freight-handling needs. Its storefront configuration accommodates retail, showroom, and other permitted commercial uses, subject to zoning and applicable regulations.
The property is located at 37-14 34th Street in Queens, New York. Walk Score is 97, Transit Score is 99, and Bike Score is 80, providing documented access by foot, public transportation, and bicycle. The combination of substantial floor area, multiple entry points, and on-site loading infrastructure creates a practical layout for a range of commercial occupancies.
The property is located at 37-14 34th Street in Queens, New York. Walk Score is 97, Transit Score is 99, and Bike Score is 80, providing documented access by foot, public transportation, and bicycle. The combination of substantial floor area, multiple entry points, and on-site loading infrastructure creates a practical layout for a range of commercial occupancies.
Key Highlights
- Approximately 13,104 gross square feet on the first floor
- Two separate entrances serving 33rd and 34th Street
- Dedicated loading berth for receiving and unloading
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
$233,906
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
5.00%
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%
$4,678,120
$4.7M
Cap Rate 7%
$3,341,514
$3.3M
Cap Rate 9%
$2,598,956
$2.6M
Market Conditions
NOI Build-Up for 13,104 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
$393.1K $30.00/SF
− Vacancy
−$59.0K −$4.50/SF
EGI
$334.2K $25.50/SF
− OpEx
−$100.2K −$7.65/SF
NOI
$233.9K $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%
$4,678,120
Cap Rate 7%
$3,341,514
Cap Rate 9%
$2,598,956
Alternative Uses
Best Use
Retail
$3.34M
$2.92M – $3.90M
NOI $233,906 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.66M
$8.45M – $11.27M
NOI $676,229 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,301
Businesses Nearby
226k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 32%
Groceries 22%
Electronics 1%
McDonald's
Dining
28,219 visits/mo
0.3 miles
McDonald's
Dining
24,841 visits/mo
0.3 miles
Key Food Supermarkets
Groceries
20,650 visits/mo
0.4 miles
Starbucks
Dining
20,474 visits/mo
0.3 miles
Bank of America
Shops & Services
12,249 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Class B commercial space provides separate entry points and dedicated loading capability for flexible operations.
Where is this storefront property located?
The property is located at 37-14 34th St 1st FL Queens, NY.
What is the asking price?
The asking price for this property is $4,680,000.
What are key features of this property?
This property features: Approximately 13,104 gross square feet on the first floor; Two separate entrances serving 33rd and 34th Street; Dedicated loading berth for receiving and unloading
