Warehouse With Mezzanine
For Sale
$1,100,000
37-20 55th St, New York, NY 11377
Flexible warehouse space pairs substantial vertical storage capacity with an integrated mezzanine office.
Property Size2,500 SF
Price / SF$440
Days on Market13
Property Features for 37-20 55th St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Business Opportunities
Additional Details
Clear Height
15 ft
Taxes and HOA fees
Annual Taxes
$24,877
Amenities
3
Building Details
Year Built
1954
Listing Agency:
(718) 490-4885
Listed By:
Keller Williams Rlty Landmark
(718) 490-4885
Source:
Xome
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 20 at 5:00AM
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 Keller Williams Rlty Landmark
Investment Insights
Based on property information with market context.
This 2,500-square-foot warehouse features 15-foot ceilings and a mezzanine office, creating a practical configuration for industrial, storage, distribution, or owner-user operations. The elevated office component adds workspace while preserving the main warehouse floor for functional use and vertical storage.
The property is located at 37-20 55th St in Woodside, Queens, New York. Built in 1954, the building offers a straightforward industrial layout with warehouse and office components in one facility.
The property is located at 37-20 55th St in Woodside, Queens, New York. Built in 1954, the building offers a straightforward industrial layout with warehouse and office components in one facility.
Key Highlights
- 2,500‑square‑foot warehouse
- 15‑foot ceilings support vertical storage
- Mezzanine office preserves primary warehouse floor area
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
$61,425
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
5.58%
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%
$1,228,500
$1.2M
Cap Rate 7%
$877,500
$877.5K
Cap Rate 9%
$682,500
$682.5K
Market Conditions
NOI Build-Up for 2,500 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
$105.0K $42.00/SF
− Vacancy
−$10.5K −$4.20/SF
EGI
$94.5K $37.80/SF
− OpEx
−$33.1K −$13.23/SF
NOI
$61.4K $24.57/SF
Area
New York, NY
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,228,500
Cap Rate 7%
$877,500
Cap Rate 9%
$682,500
Alternative Uses
Best Use
Flex RnD
$877.5K
$767.8K – $1.02M
NOI $61,425 @ 7.0% cap · market cap 5.58%
Second Best
Warehouse
$630.0K
$551.2K – $735.0K
NOI $44,098 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$6.22M
$5.45M – $7.26M
NOI $435,600 @ 7.0% cap · market cap 39.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15 ft
Clear height
Location Intelligence
Trade Area within ½ mile
4,436
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Nannybag Luggage Storage — 43-10 52nd St, Woodside, NY 11377
- Luggage Storage Knock Knock City (Book Online!) — 4310 52nd St, Woodside, NY 11377
- Bounce Luggage Storage - Woodside — 43-10 52nd St Fl.1, Queens, NY 11377
- Bounce Luggage Storage (Reserve Online) — 43-10 52nd St Fl.1, Woodside, NY 11377
- LuggageHero - Luggage storage Woodside — 54-09 Roosevelt Ave, Queens, NY 11377
Frequently Asked Questions
What type of property is this?
Warehouse - Flexible warehouse space pairs substantial vertical storage capacity with an integrated mezzanine office.
Where is this warehouse located?
The property is located at 37-20 55th St New York, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2,500‑square‑foot warehouse; 15‑foot ceilings support vertical storage; Mezzanine office preserves primary warehouse floor area
