Woodside Industrial Property with
For Sale
$2,380,000
70-42 48th Ave, Queens, NY 11377
6,079 SF industrial property with warehouse and office space.
Property Size6,079 SF
Lot Size0.09 Acres
Price / SF$391.51
Days on Market163
Property Features for 70-42 48th Ave
General Information
Standard status
Active
Size
6,079 SF
Lot size
0.09 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$27,635
Building Details
Building Size
6,079 SF
Year Built
1990
Listing Agency:
(646) 889-9988
Listed By:
Li Li
(646) 889-9988
Source:
Elliman
Added: Mar 11
Changed: Aug 12
Last Checked: Aug 20 at 11:48AM
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 Li Li
Investment Insights
Based on property information with market context.
This independent industrial property is located in the Woodside logistics hub and offers 6,079 square feet of space. The property includes a 5,120-square-foot warehouse and a 959-square-foot office. It features dual-corner exposure, ceiling heights between 11 and 20 feet, and two separate entrances, which allow for flexible operations. The building has a reinforced concrete structure with an E1 fire rating and is in excellent condition. Delivered vacant, the property is ready for immediate use. It is suitable for warehousing, distribution, e-commerce, food-processing applicants, or integrated industrial/office operations due to its exceptional access to major highways and key thoroughfares.
Key Highlights
- Vacant and ready for immediate use, offering flexibility.
- Prime location in Woodside's logistics hub with exceptional access to major highways.
- Versatile space suitable for warehousing, distribution, e‑commerce, food processing, or integrated industrial/office use.
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
$96,492
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
4.05%
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%
$1,929,840
$1.9M
Cap Rate 7%
$1,378,457
$1.4M
Cap Rate 9%
$1,072,133
$1.1M
Market Conditions
NOI Build-Up for 6,079 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
$160.5K $26.40/SF
− Vacancy
−$12.0K −$1.98/SF
EGI
$148.4K $24.42/SF
− OpEx
−$52.0K −$8.55/SF
NOI
$96.5K $15.87/SF
Area
Queens County, NY
Vacancy
7.50%
Lease Rate
$26.40 /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%
$1,929,840
Cap Rate 7%
$1,378,457
Cap Rate 9%
$1,072,133
Alternative Uses
Best Use
Flex RnD
$1.38M
$1.21M – $1.61M
NOI $96,492 @ 7.0% cap · market cap 4.05%
Second Best
Warehouse
$663.4K
$580.5K – $774.0K
NOI $46,437 @ 7.0% cap · market cap 1.95%
Theoretical Best
Office A
$4.48M
$3.92M – $5.23M
NOI $313,706 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,363
Businesses Nearby
Balanced
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.
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Frequently Asked Questions
What type of property is this?
Flex space - 6,079 SF industrial property with warehouse and office space.
Where is this flex space located?
The property is located at 70-42 48th Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,380,000.
What are key features of this property?
This property features: Vacant and ready for immediate use, offering flexibility.; Prime location in Woodside's logistics hub with exceptional access to major highways.; Versatile space suitable for warehousing, distribution, e‑commerce, food processing, or integrated industrial/office use.
