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Warehouse

37-11 Vernon Blvd

37-11 Vernon Blvd, Queens, NY 11101

Listing Price: $16,900,000

Cap Rate
1.00%
Gross SF
29,684
Price/Gross SF
$569.33
Lot Size
0.69 acres
Year Built
1931
Rentable SF
29,684

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of the adjacent industrial properties at 37-11 Vernon Boulevard and 814 37th Avenue. The subject properties stand at the corner of 9th street and 37th avenue and continue blockthrough from 9th Street to Vernon Boulevard in the Long Island City neighborhood of Queens New York. The buildings front three sides of the block with 100 feet on Vernon Blvd between 37th Avenue and 38th Avenue, 200 feet on 9th Street from the corner heading south and another 50 feet on 37th Avenue from the corner of 9th Street. 37-11 Vernon Boulevard consists of four contiguous single-story industrial buildings built on a 25,000 square foot lot (Block: 00358 Lot: 0012). The buildings total 18,440 gross square feet with an additional 6,560 square foot open lot for shipping and parking on Vernon Boulevard. The buildings are column-free with 20’ clean ceiling heights and feature heavy power and overhead space for cranes. 814 37th Avenue is a three-story, 11,244 square foot, office and industrial building (Block: 00358 Lot: 0020). The building is built 50 ft x 100 ft on a 50.04 ft x 100.08 ft lot. The ground floor manufacturing space of 5,000 square feet joins with the adjacent buildings at 37-11 Vernon Boulevard and features two floors of turn key office space above. The second-floor office is 5,000 square feet with a kitchen area, executive offices and a conference room. The newly built 3rd floor satellite is approximately 1,244 Square feet. Combined the two lots measure 30,000 SF. Both are zoned M1-3 allowing for a total of 150,000 buildable square feet of industrial, office or commercial uses as-of-right (FAR 5.0) or 195,000 SF with community facility uses (FAR 6.5) The subject site is located just 4-blocks north of the Queensborough /59th Street Bridge allowing for a 10–15-minute drive into Manhattan’s east side. The property is also surrounded by major traffic arteries including I-495 (Long Island Expressway), the Midtown Tunnel and the I-278 (BQE) allowing for easy access to the Bronx, greater Queens, Long Island and Brooklyn. The property is also a short walk from the “F” Subway train station at 21st Street. 37-11 Vernon Boulevard and 814 37th Avenue allow for owner/users and investors to purchase a strategically located, industrial and office property within the rapidly growing Long Island City neighborhood. Since the property is located within a Qualified Opportunity Zone (QOZ) and Industrial Business Zone (IBZ), a new owner or a prospective tenant can take advantage of the unique tax benefits available within both of these zones.

Investment Highlights

  • 29,684 SF Adjacent Industrial and Office Properties with Approximately 6,560 SF Open Lot
  • Column Free 20' Clean Ceiling Heights in Warehouse
  • Six Drive-In Doors: One Main Door Entrance Located on Vernon Boulevard, Three Drive-In Doors Located on 9th Street and Two Drive-In Doors Located on 37th Avenue
  • Located within a Qualified Opportunity Zone (QOZ) and Industrial Business Zone (IBZ)
  • Located near the 21st Street - Queensbridge "F" Subway Station and the Vernon Boulevard/38th Avenue "Q102" and "Q103" Bus Stations
  • Located near Queensborough Bridge, Northern Boulevard, Roosevelt Island and Cornell Tech Campus

Exclusively Listed By

Listing Price: $16,900,000

Cap Rate
1.00%
Gross SF
29,684
Price/Gross SF
$569.33
Lot Size
0.69 acres
Year Built
1931
Rentable SF
29,684

Investment Highlights

  • 29,684 SF Adjacent Industrial and Office Properties with Approximately 6,560 SF Open Lot
  • Column Free 20' Clean Ceiling Heights in Warehouse
  • Six Drive-In Doors: One Main Door Entrance Located on Vernon Boulevard, Three Drive-In Doors Located on 9th Street and Two Drive-In Doors Located on 37th Avenue
  • Located within a Qualified Opportunity Zone (QOZ) and Industrial Business Zone (IBZ)
  • Located near the 21st Street - Queensbridge "F" Subway Station and the Vernon Boulevard/38th Avenue "Q102" and "Q103" Bus Stations
  • Located near Queensborough Bridge, Northern Boulevard, Roosevelt Island and Cornell Tech Campus

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of the adjacent industrial properties at 37-11 Vernon Boulevard and 814 37th Avenue. The subject properties stand at the corner of 9th street and 37th avenue and continue blockthrough from 9th Street to Vernon Boulevard in the Long Island City neighborhood of Queens New York. The buildings front three sides of the block with 100 feet on Vernon Blvd between 37th Avenue and 38th Avenue, 200 feet on 9th Street from the corner heading south and another 50 feet on 37th Avenue from the corner of 9th Street. 37-11 Vernon Boulevard consists of four contiguous single-story industrial buildings built on a 25,000 square foot lot (Block: 00358 Lot: 0012). The buildings total 18,440 gross square feet with an additional 6,560 square foot open lot for shipping and parking on Vernon Boulevard. The buildings are column-free with 20’ clean ceiling heights and feature heavy power and overhead space for cranes. 814 37th Avenue is a three-story, 11,244 square foot, office and industrial building (Block: 00358 Lot: 0020). The building is built 50 ft x 100 ft on a 50.04 ft x 100.08 ft lot. The ground floor manufacturing space of 5,000 square feet joins with the adjacent buildings at 37-11 Vernon Boulevard and features two floors of turn key office space above. The second-floor office is 5,000 square feet with a kitchen area, executive offices and a conference room. The newly built 3rd floor satellite is approximately 1,244 Square feet. Combined the two lots measure 30,000 SF. Both are zoned M1-3 allowing for a total of 150,000 buildable square feet of industrial, office or commercial uses as-of-right (FAR 5.0) or 195,000 SF with community facility uses (FAR 6.5) The subject site is located just 4-blocks north of the Queensborough /59th Street Bridge allowing for a 10–15-minute drive into Manhattan’s east side. The property is also surrounded by major traffic arteries including I-495 (Long Island Expressway), the Midtown Tunnel and the I-278 (BQE) allowing for easy access to the Bronx, greater Queens, Long Island and Brooklyn. The property is also a short walk from the “F” Subway train station at 21st Street. 37-11 Vernon Boulevard and 814 37th Avenue allow for owner/users and investors to purchase a strategically located, industrial and office property within the rapidly growing Long Island City neighborhood. Since the property is located within a Qualified Opportunity Zone (QOZ) and Industrial Business Zone (IBZ), a new owner or a prospective tenant can take advantage of the unique tax benefits available within both of these zones.

Exclusively Listed By

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