Flex Space with Warehouse
For Sale
$2,380,000
70-42 48th Avenue, Woodside, NY 11377
Vacant flex property combines warehouse and office areas with separate entrances.
Property Size6,079 SF
Price / SF$391.51
Days on Market268
Property Features for 70-42 48th Avenue
General Information
Standard status
Active
Size
6,079 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
5,120 SF
Office Build-Out
959 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$27,635
Building Details
Building Size
6,079 SF
Year Built
1990
Stories
2
Construction
reinforced concrete
Listing Agency:
B Square Realty
(646) 889-9988
Listed By:
Li Li
(646) 889-9988
Source:
Professionalchoicerealty
Added: Dec 4, 2025
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 B Square Realty
Investment Insights
Based on property information with market context.
This Woodside flex property contains 6,079 SF, including a 5,120 SF warehouse and 959 SF of office space. The reinforced concrete building was constructed in 1990 and carries an E1 fire rating. Ceiling heights range from 11 to 20 feet, while two separate entrances support operational flexibility. The property is delivered vacant and is in excellent condition.
Dual-corner exposure and access to major highways and key thoroughfares add practical value for warehouse, distribution, e-commerce, food-processing, or combined industrial and office operations. The configuration accommodates users seeking both work areas and storage or handling space within one facility.
Dual-corner exposure and access to major highways and key thoroughfares add practical value for warehouse, distribution, e-commerce, food-processing, or combined industrial and office operations. The configuration accommodates users seeking both work areas and storage or handling space within one facility.
Key Highlights
- 6,079 SF total: 5,120 SF warehouse and 959 SF office
- 11–20 ft ceiling heights
- Reinforced concrete construction with E1 fire rating
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- M.BENNIE. LLC — 92-29 Queens Blvd, Rego Park, NY 11374
- Mudanzas moving galindo services — 91-26 43rd avenue, queens, ny 11373
- Lhasa Fresh Food — 81-09 41st Ave, Queens, NY 11373
- Prado'sCatering — 81-38 Baxter Ave, Queens, NY 11373
- NEW UNITED MOBILE — 82-02 Roosevelt Ave, Jackson Heights, NY 11372
Frequently Asked Questions
What type of property is this?
Flex space - Vacant flex property combines warehouse and office areas with 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 SF total: 5,120 SF warehouse and 959 SF office; 11–20 ft ceiling heights; Reinforced concrete construction with E1 fire rating
