Building Details

Building Size 6,079 SF

Year Built 1990

Stories 2

Construction reinforced concrete

Listed By: Gail Leone Show Phone

Source: Clairedleone

Added: Dec 4, 2025 Changed: Oct 23 Last Checked: Oct 23 at 5:39PM

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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 Gail Leone

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Investment Insights

Based on property information with market context.

This 6,079-square-foot flex property in Woodside contains a 5,120-square-foot warehouse and 959 square feet of office area. The building was constructed in 1990 with reinforced concrete and an E1 fire rating. Ceiling heights range from 11 to 20 feet, and two separate entrances serve the property. It is offered vacant.

The site is at 70-42 48th Avenue in Woodside, New York, and has dual-corner exposure. The property information identifies access to major highways and nearby thoroughfares without naming specific routes.

Key Highlights

• 6,079 square feet total: 5,120‑square‑foot warehouse and 959‑square‑foot office
• Ceiling heights range from 11–20 ft
• Reinforced concrete construction with E1 fire rating

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$96,492

Cap Rate

4.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,929,840 $1.9M

Cap Rate 7%

$1,378,457 $1.4M

Cap Rate 9%

$1,072,133 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,079 SF

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 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 (±1% cap)

NOI $96,492 @ 7.0% cap · market cap 4.05%

Second Best

Warehouse

$663.4K

$580.5K – $774.0K (±1% cap)

NOI $46,437 @ 7.0% cap · market cap 1.95%

Theoretical Best

Office A

$4.48M

$3.92M – $5.23M (±1% cap)

NOI $313,706 @ 7.0% cap · market cap 13.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Gym & Fitness Center Law Firm Nursing Home Garden Center Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

6,486

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - The vacant property combines warehouse and office space with two separate entrances.

Where is this flex space located?

The property is located at 70-42 48th Avenue Woodside, 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: 6,079 square feet total: 5,120‑square‑foot warehouse and 959‑square‑foot office; Ceiling heights range from 11–20 ft; Reinforced concrete construction with E1 fire rating