Commercial Real Estate Market in Queens, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,268 active listings and 10,383 off-market properties in Queens, NY. Commercial property asks $742/SF to buy and $46.85/SF/Yr to lease.
Market Trends
Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Queens, NY asks $450/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Queens, NY asks $599/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Queens, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Queens, NY asks $511/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Tools
Lease vs Buy Breakeven
At $46.85/SF/Yr lease vs $742/SF buy → buying wins if held > 4.4 years.
At a 6.3% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Long Island City | — | $46.85 |
| New York | — | $53.97 |
| Hoboken | — | $65.55 |
Commercial property in Queens, NY asks $742/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Queens?
Commercial property in Queens, NY asks an average of $742 per square foot. The 6 most recent recorded sales traded at a median of $611/SF, so asking sits 22% above the achieved median. Retail carries the highest asking price at $599/SF.
How much does it cost to lease commercial space in Queens?
Asking lease rates in Queens, NY average $46.85 per square foot per year.
Is it cheaper to lease or buy commercial space in Queens?
Buying beats leasing in Queens, NY if the property is held longer than 4.4 years, comparing $46.85/SF/Yr asking rent with $742/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Queens market data come from?
Realmo compiles Queens, NY figures from 6 recent recorded sales, 933 active sale listings, 335 active lease listings, 10,383 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 933 active for-sale and 335 active for-lease listings in Queens, NY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
