Corner Gas Station with Convenience
For Sale
$4,599,000
Pending
4311 SKILLMAN AVE, Long Island City, NY 11104
Leased gas station and convenience store on a corner lot, with a separately leased transmission repair shop, offered as-is.
Property Size3,241 SF
Lot Size0.21 Acres
Days on Market232
Property Features for 4311 SKILLMAN AVE
General Information
Standard status
Pending
Size
3,241 SF
Lot size
0.21 Acres
Property subtype
Retail
Zoning
M1-4
Amenities
3
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
Capri Jet Realty Corp
(718) 388-2188
Listed By:
Thomas Horodecki
(646) 226-5533
Source:
Xome
Added: Jan 19
Changed: Sep 2
Last Checked: Sep 7 at 5:09AM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This income-producing corner commercial property includes a leased gas station with a convenience store, along with a separately leased transmission repair shop. The offering is presented on an “as-is” basis, and financials are available upon request.
The site features a 90 x 58 ft building and a 100 x 90 ft lot configuration. The property is designated under zoning M1-4, with an FAR of 0.36 and a max FAR of 2. The maximum buildable area is stated as 18,000 SF (per the provided materials).
The parcel is identified as Block/Lot 0187/19, and the transaction is for sale.
The site features a 90 x 58 ft building and a 100 x 90 ft lot configuration. The property is designated under zoning M1-4, with an FAR of 0.36 and a max FAR of 2. The maximum buildable area is stated as 18,000 SF (per the provided materials).
The parcel is identified as Block/Lot 0187/19, and the transaction is for sale.
Key Highlights
- Corner commercial lot in Sunnyside with a leased gas station and convenience store plus a separately leased transmission repair shop
- Building size 90 x 58 ft with lot size 100 x 90 ft
- Zoned M1‑4 with FAR 0.36; max FAR 2; max buildable area 18,000 SF
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
$150,002
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
3.26%
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%
$3,000,040
$3.0M
Cap Rate 7%
$2,142,886
$2.1M
Cap Rate 9%
$1,666,689
$1.7M
Market Conditions
NOI Build-Up for 3,241 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
$213.9K $66.00/SF
− Vacancy
−$13.9K −$4.29/SF
EGI
$200.0K $61.71/SF
− OpEx
−$50.0K −$15.43/SF
NOI
$150.0K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,000,040
Cap Rate 7%
$2,142,886
Cap Rate 9%
$1,666,689
Alternative Uses
Best Use
Specialty Retail
$2.14M
$1.88M – $2.50M
NOI $150,002 @ 7.0% cap · market cap 3.26%
Second Best
Retail
$826.5K
$723.2K – $964.2K
NOI $57,852 @ 7.0% cap · market cap 1.26%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,251 @ 7.0% cap · market cap 3.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,531
Businesses Nearby
565k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 26%
Groceries 23%
Superstores 21%
Dining 16%
BJ's Wholesale Club
Superstores
119,525 visits/mo
0.5 miles
Food Bazaar Supermarket
Groceries
107,073 visits/mo
0.4 miles
Burlington
Apparel
57,951 visits/mo
0.5 miles
McDonald's
Dining
44,795 visits/mo
0.3 miles
Speedway
Shops & Services
20,004 visits/mo
0.3 miles
Demographics for 11104, NY
27,407
Population
13,224
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
68,518
Density / Sq Mi
$84,716
Median Household Income
$60,346
Median Earnings
$1,924
Median Rent
$665,700
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?
Gas station - Leased gas station and convenience store on a corner lot, with a separately leased transmission repair shop, offered as-is.
Where is this gas station located?
The property is located at 4311 SKILLMAN AVE Long Island City, NY.
What is the asking price?
The asking price for this property is $4,599,000.
What are key features of this property?
This property features: Corner commercial lot in Sunnyside with a leased gas station and convenience store plus a separately leased transmission repair shop; Building size 90 x 58 ft with lot size 100 x 90 ft; Zoned M1‑4 with FAR 0.36; max FAR 2; max buildable area 18,000 SF
