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    70-10 74 St Queens, NY 11379
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    Property profile & analytics

    70-10 74 St, Queens, NY 11379

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    • Warehouses
    • 60,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 70-10 74 St

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 60,000-square-foot industrial property in Middle Village, Queens County, offers a unique opportunity for a single tenant. The building boasts a versatile layout, including 25,000 square feet of ground-floor warehouse space, 24,000 square feet of second-floor warehouse/manufacturing space, and a substantial 11,000 square feet of secure interior parking. Efficient loading is ensured with four interior loading dock positions and two drive-in doors, complemented by a combination freight/passenger elevator. The building features a 15-foot ceiling height across its two stories, providing ample vertical space for various operational needs. The M1-1 zoning designation offers flexibility for a range of industrial uses. Conveniently located, this well-maintained property is within a half-mile radius of the Q29 and Q67 bus lines, enhancing accessibility for employees and logistics. This is a rare chance to secure a substantial, functional industrial space with ample parking and excellent loading capabilities in a desirable Queens location. The property is currently vacant and ready for immediate occupancy.

    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
    -73.8765
    Latitude
    40.7073

    Comparable in this City

    • Value Estimation by Request
      60,000 SF

      70-10 74 St

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      70-10 74 St, Queens, NY 11379
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      2,000 SF

      6943 76th St

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    • Value Estimation
      $1,130,000
      877 SF

      6758 73rd Pl

      WAREHOUSE, STORAGE
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      $735,000
      10,300 SF

      7915 69th Dr

      WAREHOUSE, STORAGE
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    • Value Estimation by Request
      3,519 SF

      6515 Metropolitan Ave

      WAREHOUSE, STORAGE
      6515 Metropolitan Ave, Flushing, NY 11379-1617
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    • Value Estimation
      $960,000
      11,400 SF

      6222 Metropolitan Ave

      WAREHOUSE, STORAGE
      6222 Metropolitan Ave, Flushing, NY 11379-1605
      View Details

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    Similar Nearby for Lease

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      11,000 SF

      Middle Village Warehouse For Rent

      11,000 Sq Ft warehouse with parking available for rent.
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      Middle Village Office Space Available

      Office space for rent in Middle Village, Queens.
      81 Furmanville Ave, Middle Village, NY 11379
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      Middle Village Office Space Available

      Office space for rent in Middle Village, Queens.
      81-01 Furmanville Ave, Middle Village, NY 11379
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    • $4,000 /Mo

      Retail Storefront in Middle Village

      Retail storefront for rent in a busy commercial area.
      75-13 Metropolitan Ave, Middle Village, NY 11379
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    • $1,900 /Mo

      Metropolitan Avenue Retail Space

      Retail space available for rent on Metropolitan Avenue.
      75-47 Metropolitan Ave, Middle Village, NY 11379
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    70-10 74 St
    Queens, NY 11379
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    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
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