Long Island City Industrial
For Sale
Contact for pricing
49-39 Van Dam St, Queens, NY 11101
Industrial portfolio in high-demand Long Island City submarket.
Property Size18,154 SF
Price / SF$550.84
Days on Market748
Property Features for 49-39 Van Dam St
General Information
Standard status
Active
Size
18,154 SF
Property subtype
Office, Industrial, Mixed Use, Land, Self Storage
Zoning
M2-1
Listing Agency:
MIdtown - Keller Williams NYC
(646) 383-1165
Listed By:
Mirza Avdovic · License #NY 10401278796
Source:
Crexi
Added: Jul 24, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:30AM
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 MIdtown - Keller Williams NYC
Investment Insights
Based on property information with market context.
This industrial portfolio offers a rare opportunity to acquire properties strategically located in the thriving Long Island City submarket of Queens. The adjacent properties offer an ideal setup for growing operators, logistics firms, manufacturing users, or any business seeking expansion in one of the city’s most accessible and high-demand industrial corridors. Together, the two buildings provide over 13,000 square feet of versatile industrial space alongside 45,000 square feet of buildable area. The properties feature generous clear ceiling heights reaching up to 16 feet, allowing for mezzanine buildout, high-capacity racking, or large-scale equipment operation. The properties have combined frontage on Van Dam Street with excellent visibility and access. Minimal column interiors allow for maximum layout flexibility. High ceilings are ideal for vertical storage and industrial infrastructure. Drive-in door and loading access are available. The location provides proximity to the Long Island Expressway, Queens Midtown Tunnel, and major transit arteries. The properties are located within an M1 zoning district supporting a wide range of commercial and light industrial uses.
Key Highlights
- Strategic location in the high‑demand Long Island City industrial submarket.
- Significant development potential with 45,000 SF of buildable space.
- Versatile industrial space totaling over 13,000 square feet.
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
$597,699
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
5.98%
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%
$11,953,980
$12.0M
Cap Rate 7%
$8,538,557
$8.5M
Cap Rate 9%
$6,641,100
$6.6M
Market Conditions
NOI Build-Up for 18,154 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
$915.0K $50.40/SF
− Vacancy
−$118.0K −$6.50/SF
EGI
$796.9K $43.90/SF
− OpEx
−$199.2K −$10.97/SF
NOI
$597.7K $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%
$11,953,980
Cap Rate 7%
$8,538,557
Cap Rate 9%
$6,641,100
Alternative Uses
Best Use
Office B
$8.54M
$7.47M – $9.96M
NOI $597,699 @ 7.0% cap · market cap 5.98%
Second Best
Flex RnD
$4.12M
$3.60M – $4.80M
NOI $288,158 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$13.38M
$11.71M – $15.61M
NOI $936,834 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,079
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial portfolio in high-demand Long Island City submarket.
Where is this flex space located?
The property is located at 49-39 Van Dam St Queens, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Strategic location in the high‑demand Long Island City industrial submarket.; Significant development potential with **45,000 SF of buildable space.**; Versatile industrial space totaling over 13,000 square feet.
