Flex Space with
For Sale
$2,380,000
70-42 48th Avenue, Woodside, NY 11377
Commercial Sale, Woodside, NY
Property Size6,079 SF
Lot Size0.09 Acres
Price / SF$391.51
Days on Market264
Property Features for 70-42 48th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Google Map
Standard status
Active
APN
02448-0025
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
27636
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Floors in Building
2
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Dec 4, 2025
Changed: Aug 19
Last Checked: Aug 25 at 5:06AM
MLS# 940667
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines warehouse and office components within a reinforced concrete building constructed in 1990. The warehouse area measures 5,120 SF, while the office portion totals 959 SF. Ceiling heights range from 11 to 20 feet, and two separate entrances support distinct access points for operations. The space is delivered vacant and is described as being in excellent condition.
Located at 70-42 48th Avenue in Woodside, Queens, the property has access to major highways and key thoroughfares. Public water and public sewer serve the site, and central air conditioning is installed. The configuration may accommodate warehousing, distribution, e-commerce, food-processing applicants, or combined industrial and office functions.
Located at 70-42 48th Avenue in Woodside, Queens, the property has access to major highways and key thoroughfares. Public water and public sewer serve the site, and central air conditioning is installed. The configuration may accommodate warehousing, distribution, e-commerce, food-processing applicants, or combined industrial and office functions.
Key Highlights
- 5,120 SF warehouse with 959 SF of office space
- Ceiling heights range from 11‑20 feet
- Two separate entrances support flexible operations
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
$200,144
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
8.41%
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%
$4,002,880
$4.0M
Cap Rate 7%
$2,859,200
$2.9M
Cap Rate 9%
$2,223,822
$2.2M
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
$306.4K $50.40/SF
− Vacancy
−$39.5K −$6.50/SF
EGI
$266.9K $43.90/SF
− OpEx
−$66.7K −$10.97/SF
NOI
$200.1K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /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%
$4,002,880
Cap Rate 7%
$2,859,200
Cap Rate 9%
$2,223,822
Alternative Uses
Best Use
Office B
$2.86M
$2.50M – $3.34M
NOI $200,144 @ 7.0% cap · market cap 8.41%
Second Best
Flex RnD
$1.38M
$1.21M – $1.61M
NOI $96,492 @ 7.0% cap · market cap 4.05%
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
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant commercial space combines warehouse and office functions with separate entry points and central air conditioning.
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: 5,120 SF warehouse with 959 SF of office space; Ceiling heights range from 11‑20 feet; Two separate entrances support flexible operations
