Medical Condominium Near
For Sale
$845,000
Pending
133-47 Sanford Avenue, Flushing, NY 11355
Commercial Sale, Flushing, NY
Property Size1,600 SF
Days on Market346
Property Features for 133-47 Sanford Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Standard status
Pending
APN
05042-1411
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17784
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Brick
Listing Agency:
City Realty Group · RE/MAX International
(718) 888-9005
Listed By:
Emmy D. Cai CBR
(646) 805-8688
Added: Sep 15, 2025
Changed: Aug 20
Last Checked: Aug 26 at 4:06PM
MLS# 913042
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,600-square-foot medical condominium occupies space within a professional medical building at the corner of Main Street and Sanford Avenue. The property is part of a setting that includes established medical practices and specialty offices, supporting a healthcare-focused environment for an owner-user or investor.
Transit access is a defining feature, with the #7 subway line and Long Island Rail Road station approximately a five-minute walk away. The building is constructed of brick and includes baseboard heating, central air conditioning, public water, and public sewer. A basement is also identified among the property’s rooms.
Transit access is a defining feature, with the #7 subway line and Long Island Rail Road station approximately a five-minute walk away. The building is constructed of brick and includes baseboard heating, central air conditioning, public water, and public sewer. A basement is also identified among the property’s rooms.
Key Highlights
- 1,600‑square‑foot medical condominium
- Corner location at Main Street and Sanford Avenue
- Professional medical building with established practices and specialty offices
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,560
$1.1M
Cap Rate 7%
$752,543
$752.5K
Cap Rate 9%
$585,311
$585.3K
Market Conditions
NOI Build-Up for 1,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$80.6K $50.40/SF
− Vacancy
−$10.4K −$6.50/SF
EGI
$70.2K $43.90/SF
− OpEx
−$17.6K −$10.97/SF
NOI
$52.7K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,560
Cap Rate 7%
$752,543
Cap Rate 9%
$585,311
Alternative Uses
Best Use
Office B
$752.5K
$658.5K – $878.0K
NOI $52,678 @ 7.0% cap · market cap 6.23%
Second Best
Healthcare Medical
$527.0K
$461.2K – $614.9K
NOI $36,893 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,568 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,547
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Located in a professional medical building with subway and rail access within a five-minute walk.
Where is this medical office space located?
The property is located at 133-47 Sanford Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 1,600‑square‑foot medical condominium; Corner location at Main Street and Sanford Avenue; Professional medical building with established practices and specialty offices
