9-03 44Th Rd Queens, NY 11101
- Warehouses
- 86,562 SF
- 0.97 lot acres
Current Use by Public Records
- Daikin Applied Service / Hvac Contractor
- dash design - hospitality design firm NYC / Interior Designer / Architectural Designer
- The Rose Room / Event Venue
- Lemon Poppy Studios / Photography Studio
- Daikin Applied Parts Store / Hvac Contractor / Air Conditioning Contractor
Property Details for 9-03 44Th Rd
- Year built
- 2018
- Lot size
- 0.97 lot acres
- Property size
- 86,562 SF
- Property type
- Warehouses
- Property subtype
- Office Properties & Spaces
Description
This exceptional three-story, 93,347-square-foot flex/warehouse building in Long Island City, Queens offers a compelling value-add investment opportunity. Boasting a 9.85% cap rate and a strong NOI of $2,913,994, the property features a diverse tenant roster including a Fortune 1000 company and a certified woman-owned business. Built in 2018, the building sits on a 0.97-acre lot and includes seven loading docks, 20' and 14' ceiling heights, and is zoned M1-4. The property benefits from a 99-year ground lease inclusive of a 25-year IDA tax exemption, delivered in 2021. Amenities include a public rooftop terrace with pergolas, seating areas, and a bocce ball court. Its prime location offers easy access to the Long Island City Ferry, multiple subway lines (7, G, E & M), and major roadways, placing it within a thriving commercial and residential area experiencing significant growth. The building's strategic location and diverse tenancy make it an attractive investment for discerning buyers seeking strong returns and long-term stability. The asking price is $31,500,000, translating to $364 per square foot. This presents a rare opportunity to acquire a well-positioned, high-performing asset in one of New York City's most dynamic neighborhoods.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9509
- Latitude
- 40.7496
