Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5-38 46Th Ave Queens, NY 11101
    Back to Search
    Property profile & analytics

    5-38 46Th Ave Queens, NY 11101

    View on Map
    • Warehouses
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Remix Market NYC / Furniture & Home Goods

    Property Details for 5-38 46Th Ave

    Property type
    Warehouses
    Property subtype
    Refrigerated & Cold Storage

    Description

    This exceptional 5,000 square foot commercial space at 5-38 46th Avenue in Long Island City, Queens County, New York, offers a versatile single-tenant opportunity. The property is ideally suited for a variety of uses, including traditional office, executive office, medical office, creative office, refrigerated/cold storage, manufacturing, flex space, warehouse, distribution, or R&D. Key features include a convenient garage door entry, perfect for efficient loading and unloading

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9536
    Latitude
    40.7471

    Comparable in this City

    • Value Estimation by Request
      5,500 SF

      37-14 34Th St

      Refrigerated & Cold Storage • 5,500 SF
      37-14 34Th St, Queens, NY 11101
      View Details
    • Value Estimation by Request
      31,438 SF

      25-11 38Th Ave

      Refrigerated & Cold Storage • 31,438 SF
      25-11 38Th Ave, Queens, NY 11101
      View Details
    • Value Estimation by Request
      27,000 SF

      47-47 35Th St

      Refrigerated & Cold Storage • 27,000 SF
      47-47 35Th St, Queens, NY 11101
      View Details
    • Value Estimation by Request

      5-46 46Th Rd

      Refrigerated & Cold Storage
      5-46 46Th Rd, Queens, NY 11101
      View Details
    • Value Estimation by Request
      22,000 SF

      37-22 22Nd St

      Life science properties • 22,000 SF
      37-22 22Nd St, Queens, NY 11101
      View Details
    • Value Estimation by Request

      37-16 13Th St

      Life science properties
      37-16 13Th St, Queens, NY 11101
      View Details

    Similar Nearby for Sale

    • $4,550,000
      9,800 SF

      LIC Industrial Gem: 9,800 SF

      Prime Long Island City warehouse/flex space. Excellent location & access.
      38-17 Crescent St, Long Island City, NY 11101
      View Details
    • $3,999,999
      0.11 Acres

      Long Island City Commercial Building

      Industrial building with commercial kitchen and office space for sale.
      8-07 38Th Ave, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Versatile Warehouse in Long Island

      Warehouse with offices in prime Long Island City location.
      38-56 11Th St, New York, NY 11101
      View Details
    • Contact for pricing
      11,000 SF

      Long Island City Contractor Building

      11,000 SF building with 2,000 SF yard near subway.
      4315 36Th St, Long Island City, NY 11101
      View Details
    • $2,250,000

      Versatile Warehouse in Long Island City

      Warehouse with offices, ideal for manufacturing, storage, or mixed-use.
      38-56 11Th St, Queens, NY 11101
      View Details
    • Contact for pricing
      310,000 SF

      Renovated Warehouse & Offices

      Modern, renovated warehouse with secure staging and executive parking.
      38-42 Review Ave, Long Island City, NY 11101
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,000 SF

      LIC Warehouse: 11,000 SF

      Prime LIC industrial space; vacant, ready to occupy.
      43-15 36Th St, Queens, NY 11101
      View Details
    • Contact for pricing

      Vernon Boulevard Location

      Flex/Industrial/Office/Warehouse space for rent in Long Island City.
      10-14 47Th Rd, Long Island City, NY 11101
      View Details
    • Contact for pricing
      14,000 SF

      Long Island City Industrial Building

      Two-story industrial building with warehouse and office space for lease.
      3135 31St Pl, Long Island City, NY 11101
      View Details
    • Contact for pricing
      16,986 SF

      Long Island City Flex Space

      16,986 SF flex space in Long Island City.
      30 47Th Ave, Long Island City, NY 11101
      View Details
    • Contact for pricing

      Long Island City Loft Space

      Loft and office spaces available with parking near 59th Street.
      43-49 10Th St, Queens, NY 11101
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5-38 46Th Ave
    Queens, NY 11101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5-38 46Th Ave, Queens, NY, 11101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!