Storefront Property With Loading
New
For Sale
$4,680,000
37-14 34th Street, Long Island City, NY 11101
SINGLE_FAMILY - Long Island City, NY
Property Size13,104 SF
Lot Size0.46 Acres
Price / SF$357.14
Days on Market2
Property Features for 37-14 34th Street
General Information
Property type
Residential
Property subtype
Retail
Elementary school district
Queens 30
Middle school district
Queens 30
High school district
Queens 30
Standard status
Active
APN
00375-7501
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
42286
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Electric
Water source
Public
Amenities
two separate entrances
loading berth
Building Details
Year built
2019
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 15 at 5:06AM
MLS# 1038989
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2019 brick storefront property at 37-14 34th Street contains approximately 13,104 gross square feet and offers two separate entrances serving 33rd and 34th Streets. A dedicated loading berth supports receiving and unloading activity, while baseboard heating and electric cooling serve the building. Public water and public sewer are available.
The property is in Long Island City, Queens, with access from two street-facing entry points. Its storefront configuration and loading capability support consideration for retail, showroom, warehouse, commercial, or other uses permitted by applicable zoning and regulations.
The property is in Long Island City, Queens, with access from two street-facing entry points. Its storefront configuration and loading capability support consideration for retail, showroom, warehouse, commercial, or other uses permitted by applicable zoning and regulations.
Key Highlights
- Approximately 13,104 gross square feet
- 2019 construction with brick exterior
- Two separate entrances serving 33rd and 34th Streets
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
Flex RnD
$2.97M
$2.60M – $3.47M
NOI $208,000 @ 7.0% cap · market cap 4.44%
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
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with dual street entrances and a dedicated loading area for retail or other permitted uses.
Where is this storefront property located?
The property is located at 37-14 34th Street Long Island City, 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; 2019 construction with brick exterior; Two separate entrances serving 33rd and 34th Streets
