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    38-59 9th Street Long Island City, NY 11101

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    Claim this Listing
    For Lease
    $9,000/Mo $29 SF/Yr (calc)

    COMMERCIAL - Long Island City, NY

    Property size:
    3,631 SF
    Lot size:
    0.11 Acres
    Added:
    Jan 8, 2026
    Days on Market:
    113
    Last Refresh:
    May 1 at 12:06 am

    Property Features for 38-59 9th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    M1-3
    Standard status
    Active
    Size
    3,631 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    16890

    Building Details

    Year built
    1965
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    Chun Hung (Leo) Tse

    Listing agent Chun Hung (Leo) Tse

    Listing office ProBase Real Estate 289 Kings Highway, Brooklyn, NY

    Listing date Jan 8, 2026

    MLS# 498245

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Long Island City Industrial Warehouse

    This industrial warehouse is available for rent in Long Island City, Queens. The property is suitable for storage, light manufacturing, distribution, or trade-related businesses. The warehouse offers a functional layout and on-site parking. The warehouse size is 2,200 square feet, complemented by a 1,431-square-foot on-site parking lot. The property is located in a prime Long Island City industrial corridor, providing convenient access to major highways, bridges, and public transportation. The zoning is suitable for a variety of industrial and commercial uses. The property is situated on a lot of approximately 0.1148 acres. The total property size is 3,631 square feet. The location provides proximity to Manhattan while maintaining efficient operations. The property is available immediately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Associated Auto Radiator ... Auto Repair Shop Associated Radiator Inc Auto Repair Shop CrossTown Radiator Inc Auto Repair Shop Associated Automobile Radiator Auto Repair Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • EZ MOVING SERVICES, INC — 11-11 44th rd #302, queens, ny 11101
    • Record Nations — 44-70 21st St, Long Island City, NY 11101
    • Radical Storage - Luggage Storage Court Square-23 St Station — 11-11 44th Rd, Long Island City, NY 11101
    • Bounce Luggage Storage - Long Island City Terminal — 4545 Center Blvd, Queens, NY 11101
    • Bounce Luggage Storage — 11-57 44th Dr, Queens, NY 11101

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.930837
    Latitude
    40.774964

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    FAQs

    What type of property is this?
    Warehouse - Industrial warehouse for rent in prime Long Island City location.
    Where is this warehouse located?
    The property is located at 38-59 9th Street Long Island City, NY.
    What is the lease rate?
    The lease rate is $9,000 /Mo.
    What are key features of this property?
    This property features: Prime Long Island City location; 2,200 SQ FT Warehouse with Functional Layout; 1,431 SQ FT On‑Site Parking Lot
    (646) 407-6668
    We can help!
    Listing Contact
    Chun Hung (Leo) Tse
    Learn More
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    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
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