Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    34-02 Laurel Hl Blvd Queens, NY 11378
    Back to Search
    Property profile & analytics

    34-02 Laurel Hl Blvd Queens, NY 11378

    View on Map
    • Warehouses
    • 42,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 34-02 Laurel Hl Blvd

    Property size
    42,000 SF
    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 42,000-square-foot industrial property, located at 34-02 Laurel Hill Blvd in Maspeth, Queens, NY 11378, presents a unique leasing opportunity. The single-tenant building boasts a versatile layout suitable for a wide range of businesses. The space features impressive ceiling heights ranging from 16 to 30 feet, providing ample vertical clearance for various industrial needs. The property includes four drive-in doors for convenient loading and unloading. Extensive parking is available with 14,300 square feet of paved parking surrounding the building. The building is currently vacant and ready for immediate occupancy. Previously configured as a movie studio, the space includes fully built-out stages, dressing rooms, and offices, making it particularly well-suited for film production, art storage, galleries, or similar creative endeavors. However, its adaptability extends to warehousing, sports complexes, or other industrial uses. The M3-1 zoning allows for a variety of permitted uses. This strategically located property on a wide street in Queens County offers unparalleled access and visibility. The building is equipped with HVAC. This is a rare opportunity to secure a large, well-maintained industrial space in a prime location.

    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
    -73.9302
    Latitude
    40.729

    Comparable in this City

    • Value Estimation by Request
      6,000 SF

      63-09 Flushing Ave

      Distribution properties • 6,000 SF
      63-09 Flushing Ave, Queens, NY 11378
      View Details
    • Value Estimation by Request
      30,000 SF

      54-08 46Th St

      Distribution properties • 30,000 SF
      54-08 46Th St, Queens, NY 11378
      View Details
    • Value Estimation by Request
      55,000 SF

      5746 Flushing Ave

      Distribution properties • 55,000 SF
      5746 Flushing Ave, Queens, NY 11378
      View Details
    • Value Estimation by Request
      52,000 SF

      60-20 59 Pl

      Distribution properties • 52,000 SF
      60-20 59 Pl, Queens, NY 11378
      View Details
    • Value Estimation by Request
      24,093 SF

      55-40 44Th St

      Distribution properties • 24,093 SF
      55-40 44Th St, Queens, NY 11378
      View Details
    • Value Estimation by Request
      99,170 SF

      57-00 47Th St

      Distribution properties • 99,170 SF
      57-00 47Th St, Queens, NY 11378
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      52,000 SF

      Maspeth Industrial Building For Sale

      52,000 SF industrial building near Amazon Distribution Center.
      5813 Grand Ave, Maspeth, NY 11378
      View Details
    • Contact for pricing
      34,907 SF

      Maspeth Warehouse with Parking

      34,907 SF warehouse with on-site parking in Maspeth.
      4823 55Th Ave, Maspeth, NY 11378
      View Details
    • Contact for pricing
      9,000 SF

      Maspeth Warehouse with Tenant in Place

      9,000 SF warehouse with tenant, HVAC, and radiant heat.
      5946 56Th Rd, Maspeth, NY 11378
      View Details
    • Contact for pricing
      4,950 SF

      Maspeth Warehouse with Fenced Yard

      2,920 SF warehouse with 2,030 SF fenced yard.
      58-70 57Th Rd, Maspeth, NY 11378
      View Details
    • Contact for pricing
      70,000 SF

      Maspeth Warehouse with Modern Offices

      60,000 SF warehouse with 5,000 SF modern offices.
      52-15 Flushing Ave, Maspeth, NY 11378
      View Details
    • $2,100,000
      0.14 Acres

      Maspeth Multi-Family Brick House

      Seven-dwelling brick house with commercial garages and finished basement.
      59-49 56Th Dr, Maspeth, NY 11378
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,881 SF

      Maspeth Distribution Facility For Sublease

      65,235 SF high ceiling distribution facility available for sublease.
      5530 46Th St, Maspeth, NY 11378
      View Details
    • $15,000 /Mo
      8,002 SF

      Versatile Commercial Space in Queens

      Flexible 5,200 SF commercial space suitable for various uses.
      5825 57Th St, Maspeth, NY 11378
      View Details
    • $2,960 /Mo

      Maspeth Commercial Space For Rent

      Versatile commercial spaces available in Maspeth, Queens.
      58-25 57Th St, Maspeth, NY 11378
      View Details
    • $1,600 /Mo

      Maspeth Commercial Space For Rent

      Versatile commercial spaces available in Maspeth, Queens.
      58-25 57Th St, Maspeth, NY 11378
      View Details
    • Contact for pricing
      19,092 SF

      Industrial Warehouse with Large Yard

      19,092 SF warehouse with 84,797 SF yard for lease.
      5700 47Th St, Maspeth, NY 11378
      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.
    34-02 Laurel Hl Blvd
    Queens, NY 11378
    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
    34-02 Laurel Hl Blvd, Queens, NY, 11378
    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!