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28-44 Borden Ave 11,500 SF 100% Leased Industrial Building Long Island City, NY 11101 $4,188,000 ($364.17/SF) 4.62% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Long Island City location near major transit routes
- Priced well below market with motivated seller
- Strong demographics and high-income residential base
- New HVAC, elevator access, and rooftop space
- Surrounded by mixed-use and industrial redevelopment
- Flexible zoning with long-term upside potential
EXECUTIVE SUMMARY
Now offered at a reduced price with a highly motivated seller
East Coast presents a rare opportunity to acquire a versatile commercial property in the heart of Long Island City’s industrial corridor. This two-story building offers 11,524 square feet of warehouse and loft-style office space, including a drive-in ground floor and 6,000 square feet of creative loft space above.
The property is offered at a significantly reduced price, with the seller highly motivated. Market rents in the area average $30 per square foot, but this asset is available at just $10 per square foot—creating immediate value for investors or owner-users. Two short-term leases are in place, including one expiring in late 2025, allowing for flexible repositioning.
Recent upgrades include a new HVAC system, elevator access, and rooftop space. Located near major highways and transit routes, the site offers seamless access to Manhattan, Brooklyn, and Queens, making it ideal for logistics, creative, or industrial use.
East Coast presents a rare opportunity to acquire a versatile commercial property in the heart of Long Island City’s industrial corridor. This two-story building offers 11,524 square feet of warehouse and loft-style office space, including a drive-in ground floor and 6,000 square feet of creative loft space above.
The property is offered at a significantly reduced price, with the seller highly motivated. Market rents in the area average $30 per square foot, but this asset is available at just $10 per square foot—creating immediate value for investors or owner-users. Two short-term leases are in place, including one expiring in late 2025, allowing for flexible repositioning.
Recent upgrades include a new HVAC system, elevator access, and rooftop space. Located near major highways and transit routes, the site offers seamless access to Manhattan, Brooklyn, and Queens, making it ideal for logistics, creative, or industrial use.
PROPERTY FACTS
| Price | $4,188,000 | Lot Size | 0.50 AC |
| Price Per SF | $364.17 | Rentable Building Area | 11,500 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 4.62% | Year Built | 1931 |
| Property Type | Industrial | Parking Ratio | 4/1,000 SF |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 4 |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | M3-1,Queen(G9) - M3 districts are designated for areas with heavy industries that generate noise, traffic or pollutants. | ||
| Price | $4,188,000 |
| Price Per SF | $364.17 |
| Sale Type | Investment |
| Cap Rate | 4.62% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.50 AC |
| Rentable Building Area | 11,500 SF |
| No. Stories | 2 |
| Year Built | 1931 |
| Parking Ratio | 4/1,000 SF |
| No. Drive In / Grade-Level Doors | 4 |
| Opportunity Zone |
Yes |
| Zoning | M3-1,Queen(G9) - M3 districts are designated for areas with heavy industries that generate noise, traffic or pollutants. |
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Dartom Construction
- Construction
- -
- -
- -
- Otter House Entertainment Group Inc
- Arts, Entertainment, and Recreation
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Dartom Construction | Construction | - | - | - | ||
| Otter House Entertainment Group Inc | Arts, Entertainment, and Recreation | - | - | - |
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Walk Score®
Very Walkable (74)
Transit Score®
Rider's Paradise (98)
PROPERTY TAXES
| Parcel Number | 00293-0001 | Improvements Assessment | $325,800 |
| Land Assessment | $64,350 | Total Assessment | $390,150 |
PROPERTY TAXES
Parcel Number
00293-0001
Land Assessment
$64,350
Improvements Assessment
$325,800
Total Assessment
$390,150
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East Coast New York
28-44 Borden Ave
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