Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    36-23 164Th St, Unit 203 Flushing, NY 11358

    Sponsored
    For Lease
    $1,000 /Mo

    COMMERCIAL - Flushing, NY

    Property size:
    500 SF
    Days on Market:
    2
    Last Refresh:
    Feb 25 at 7:06 pm

    Property Features for 36-23 164Th St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Parking features
    On Street
    Size
    500 SF

    Utilities

    Utilities
    Electricity Available
    Heating system
    Baseboard
    Cooling system
    Window Unit(s), Wall/Window Unit(s)

    Building Details

    Year built
    1931
    Flooring type
    Laminate
    Building materials
    Brick

    We can help!

    Listing Contact
    Yan Li CBR

    keram inc (718) 380-2500

    Listing agent Yan Li CBR (646) 251-9896

    Listing date Feb 24, 2026

    MLS# 931617

    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.

    Learn more

    Property Insight Report

    Overview

    Flushing Office Space For Rent

    The property is a second-floor office unit within a commercial building. The interior space measures 500 square feet and features two rooms with new flooring. The unit includes a window facing south. A shared common bathroom is located in the building hallway. The location is convenient, with proximity to stores and restaurants. Transportation options include nearby bus lines Q12 and Q13, as well as the Long Island Rail Road (LIRR). The unit is suitable for various types of business offices and is located in Flushing, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aquamarine Cleaners (Bike/Boat/Book/etc) Store 뉴욕할렐루야교회 Church

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.798925
    Latitude
    40.787157

    Nearby Similar for Lease

    • New
      $4,700 /Mo
      1,600 SF

      Whitestone Medical Office for Lease

      Medical office space for lease in the heart of Whitestone.
      10-28 154Th St, Whitestone, NY 11357
      View Details
    • New
      $4,500 /Mo

      Renovated Commercial Space in Flushing

      Turnkey commercial space in a desirable Flushing location.
      148-09 Northern Boulevard, Flushing, NY 11354
      View Details
    • $1,900 /Mo

      Commercial Space in Whitestone, NY

      Office/storefront retail space for lease in Whitestone neighborhood.
      16-05 Francis Lewis Blvd, Whitestone, NY 11357
      View Details
    • $4,500 /Mo
      3,999 SF

      Fresh Meadows Office Space Available

      Elevator-served office space ideal for medical or professional use.
      16040 78Th Rd, Fresh Meadows, NY 11366
      View Details
    • New
      $8,500 /Mo

      Flushing Commercial Space for Rent

      Commercial space suitable for school or adult day care center.
      199-03 199Th St, Flushing, NY 11354
      View Details
    • New
      $3,600 /Mo

      Medical Office Space in Rego Park

      960 SF medical office space for lease on Queens Blvd.
      98-17 Queens Blvd, Rego Park, NY 11374
      View Details
    • New
      $2,950 /Mo
      2,496 SF

      Retail Space in College Point

      900 SF retail space with full basement in College Point.
      12605 18Th Ave, College Point, NY 11356
      View Details
    • New
      $6,000 /Mo

      Retail Space on Northern Boulevard

      Retail space in Corona with high visibility and traffic.
      104-15 Northern Boulevard, Corona, NY 11368
      View Details
    • New
      $10,000 /Mo
      3,999 SF

      Medical/Professional Office Space Available

      Prime commercial office space in Jackson Heights for rent.
      3723 76Th St, Jackson Heights, NY 11372
      View Details
    • $5,000 /Mo
      1,668 SF

      Renovated Commercial Unit in Whitestone

      Fully renovated commercial unit in the heart of Whitestone, NY.
      1527 149Th St, Whitestone, NY 11357
      View Details
    • $1,750 /Mo
      450 SF

      Retail/Office Space on Union Street

      Well-maintained retail or office space in Flushing, move-in ready.
      36-22 Union St, Flushing, NY 11354
      View Details
    • $3,700 /Mo

      Retail Space in RIDGEWOOD, NY

      1393 Sq. Ft. commercial space on a busy street.
      62-12 Myrtle Ave, Ridgewood, NY 11385
      View Details

    FAQs

    What type of property is this?
    Office space - Second floor office unit in a commercial building.
    Where is this office space located?
    The property is located at 36-23 164Th St, Unit 203 Flushing, NY.
    What are key features of this property?
    This property features: - Convenient location near stores, restaurants, bus Q12, Q13, and LIRR.; - Newly renovated with new flooring and paint.; - **South-facing window providing natural light.**
    (718) 380-2500
    Request Owner's contact information
    36-23 164Th St, Unit 203 Flushing, NY 11358
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    36-23 164Th St, Unit 203
    Flushing, NY 11358
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    36-23 164Th St, Unit 203 Flushing, NY 11358
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Yan Li CBR
    (718) 380-2500 (646) 251-9896
    Learn more
    Google sign-in failed. Please try again or use another login method.