Building Details

Building Size 6,385 SF

Year Built 1931

Listing Agency: All Island Estates Realty Corp Show Phone

Listed By: Geralda Desir

Source: Goldcrestrealtygrp

Added: Oct 20 Changed: Oct 28 Last Checked: Oct 28 at 3:14PM

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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 All Island Estates Realty Corp

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Investment Insights

Based on property information with market context.

This 4,850-square-foot warehouse sits on a 5,588-square-foot lot and was built in 1931. Interior features include 16-foot ceilings, air conditioning, three-phase power, a skylight, and accessible entry. The property also provides 21 parking spaces and building signage.

Located in Glendale, the site is a few minutes from the Jackie Robinson Parkway. Nearby businesses include Chase Bank, Capital One Bank, TD Bank, Stop & Shop, CVS, Walgreens, Extra Space Storage, CubeSmart Self Storage, Speedway, Rite Aid, Domino’s, Wendy’s, Blink Fitness, and Dollar Tree.

Key Highlights

• 4,850‑square‑foot warehouse on a 5,588‑square‑foot lot
• R4‑1 zoning
• 16‑foot ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,775

Cap Rate

3.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$975,500 $975.5K

Cap Rate 7%

$696,786 $696.8K

Cap Rate 9%

$541,944 $541.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,385 SF

Gross rent

$60.5K $9.48/SF

− Vacancy

−$3.1K −$0.49/SF

EGI

$57.4K $8.99/SF

− OpEx

−$8.6K −$1.35/SF

NOI

$48.8K $7.64/SF

Area

Queens County, NY

Vacancy

5.20%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$975,500

Cap Rate 7%

$696,786

Cap Rate 9%

$541,944

Alternative Uses

Best Use

Warehouse

$696.8K

$609.7K – $812.9K (±1% cap)

NOI $48,775 @ 7.0% cap · market cap 3.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.71M

$4.12M – $5.49M (±1% cap)

NOI $329,497 @ 7.0% cap · market cap 20.28%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

R Gifted Hands ... Barber Shop

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Nursing Home Carpet & Flooring Store Computer & Electronic Repair

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

16 ft

Clear height

Location Intelligence

Trade Area within ½ mile

1,576

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11385, NY

100,883

Population

40,175

Households

2.5

Avg Household Size

36

Median Age

34%

College-Educated

84%

High-School Grad

3.6 sq mi

ZIP Area

28,023

Density / Sq Mi

$87,365

Median Household Income

$47,335

Median Earnings

$1,959

Median Rent

$842,800

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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Similar Off Market Nearby

• Delta Self Storage - Brooklyn — 1517 Bushwick Ave, Brooklyn, NY 11207
• CubeSmart Self Storage — 1125 Wyckoff Ave, Ridgewood, NY 11385
• Kingston Storage Facility — 1539 Covert St., Ridgewood, NY 11385
• Extra Space Storage — 1060 Wyckoff Ave, Ridgewood, NY 11385
• Extra Space Storage — 976 Cypress Ave, Ridgewood, NY 11385

Frequently Asked Questions

What type of property is this?

Warehouse - R4-1 zoning and three-phase power serve a versatile warehouse property.

Where is this warehouse located?

The property is located at 79-17 Cypress Avenue Glendale, NY.

What is the asking price?

The asking price for this property is $1,625,000.

What are key features of this property?

This property features: 4,850‑square‑foot warehouse on a 5,588‑square‑foot lot; R4‑1 zoning; 16‑foot ceilings