Versatile Space Near Subway
For Sale
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86-30 103rd Ave, Queens, NY 11417
11,748 sqft space suitable for industrial or retail use.
Property Size11,748 SF
Price / SF$336.23
Days on Market689
Property Features for 86-30 103rd Ave
General Information
Standard status
Active
Size
11,748 SF
Property subtype
Industrial
Zoning
R6-B / R4-1 / C2-3
Building Details
Buildings
1
Listing Agency:
Greiner-Maltz Company of New York, Inc.
Listed By:
Jonathan Rothstein · License #NY
Source:
Crexi
Added: Oct 16, 2024
Changed: Aug 25
Last Checked: Aug 28 at 8:37PM
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 Greiner-Maltz Company of New York, Inc.
Investment Insights
Based on property information with market context.
This property, formerly a baseball practice facility, offers 11,748 sqft of versatile space suitable for both industrial and retail applications. The building benefits from a new roof, which reduces potential maintenance issues. The property is located a short distance from the A-train subway station, approximately a 2-minute walk, providing convenient access for pedestrians and vehicular traffic. The property is equipped with gas, sprinklers, and heavy power.
Key Highlights
- 11,748 sq.ft of versatile space suitable for industrial or retail use.
- 2‑minute walk to the A‑train subway station.
- New roof minimizes maintenance concerns.
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
$186,476
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
4.72%
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%
$3,729,520
$3.7M
Cap Rate 7%
$2,663,943
$2.7M
Cap Rate 9%
$2,071,956
$2.1M
Market Conditions
NOI Build-Up for 11,748 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
$310.1K $26.40/SF
− Vacancy
−$23.3K −$1.98/SF
EGI
$286.9K $24.42/SF
− OpEx
−$100.4K −$8.55/SF
NOI
$186.5K $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%
$3,729,520
Cap Rate 7%
$2,663,943
Cap Rate 9%
$2,071,956
Alternative Uses
Best Use
Flex RnD
$2.66M
$2.33M – $3.11M
NOI $186,476 @ 7.0% cap · market cap 4.72%
Second Best
Industrial
$1.06M
$923.8K – $1.23M
NOI $73,906 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$8.66M
$7.58M – $10.10M
NOI $606,253 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,922
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11417, NY
31,229
Population
9,855
Households
3.2
Avg Household Size
38
Median Age
25%
College-Educated
78%
High-School Grad
1.1 sq mi
ZIP Area
28,390
Density / Sq Mi
$86,330
Median Household Income
$42,193
Median Earnings
$1,853
Median Rent
$731,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 11,748 sqft space suitable for industrial or retail use.
Where is this flex space located?
The property is located at 86-30 103rd Ave Queens, NY.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 11,748 sq.ft of versatile space suitable for industrial or retail use.; 2‑minute walk to the A‑train subway station.; New roof minimizes maintenance concerns.
