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    141-05 Northern Boulevard Flushing, NY 11354

    Sponsored
    For Sale
    $199,000

    Commercial Building, Mid-rise - Flushing, NY

    Property size:
    800 SF
    Days on Market:
    6
    Last Refresh:
    Feb 1 at 4:06 am

    Property Features for 141-05 Northern Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    900
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Laundry, Living Room
    Bedrooms
    2
    Bathrooms
    2
    APN
    05002-0042
    Parking features
    Garage
    Interior features
    Intercom
    EntryLevel
    1
    Appliances
    Dryer
    Size
    800 SF

    Taxes and HOA fees

    Expense value
    1995
    Expense
    Home Owner Assessments Fee

    Utilities

    Heating system
    Baseboard, Natural Gas, Steam

    Building Details

    Year built
    1959
    Year renovated
    1959
    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Mi Ryoung Chong

    HANMI REALTY (718) 961-8801

    Listing agent Mi Ryoung Chong (718) 961-8801

    Listing date Jan 27, 2026

    MLS# 11601157 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Flushing Vacant Commercial Coop

    This well-maintained, sunny, and clean vacant coop, approximately 800 square feet, is located in Flushing, NY. The property is suitable for a medical office, laboratory, professional office, or community facility such as a house of worship, seminary, school, day and adult day care, non-profit organization, showroom, or for sample sales, sports, and entertainment purposes. The layout includes nine rooms, featuring five exam rooms, one storage room, two half bathrooms, a walk-in closet, and a spacious receptionist waiting area. Four windows face Northern Boulevard. Recent renovations include tile flooring, Leadership in Energy and Environmental Design certified lighting, and freshly painted bathrooms and rooms. The Northern professional center is pet-friendly and wheelchair accessible, with a laundry room and a parking garage spot available for $100 monthly. The property is situated on Northern Boulevard between Union Street and Parsons Boulevard, near the junction of Van Wyck, Whitestone expressways, and Grand Central Parkway. It is a short drive to LaGuardia and JFK airports and close to the #7 train and LIRR Murray Hill station. The monthly maintenance fee of $1,995 covers taxes, heat, water, grounds keeping of common areas, trash, and snow and ice removal. A live-in superintendent maintains the building. Subleasing is permitted after two years of ownership with board approval. The location benefits from high foot traffic and over 43,000 cars passing daily, with 25 feet of street frontage at the Q28 bus stop.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    College Point Veterinary Center, Dr. Perkins

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.82558
    Latitude
    40.764728

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    FAQs

    What type of property is this?
    Medical office - Well-maintained, newly renovated 800 SF coop suitable for various uses.
    Where is this medical office located?
    The property is located at 141-05 Northern Boulevard Flushing, NY.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: - Prime location with HIGH FOOT AND CAR TRAFFIC (43k+ daily) and 25 feet of street frontage at a bus stop, ideal for business visibility.; - Versatile 800 sq ft coop suitable for various uses: medical office, professional office, community facility, showroom, or sports & entertainment.; - Newly renovated with LEED-certified lighting, tile flooring, fresh paint, and well-maintained condition.
    (718) 961-8801
    Request Owner's contact information
    141-05 Northern Boulevard Flushing, NY 11354
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    Flushing, NY 11354
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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
    141-05 Northern Boulevard Flushing, NY 11354
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    We can help!
    Listing Contact
    Mi Ryoung Chong
    (718) 961-8801
    Learn more
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