Renovated Office Space, Prime
For Sale
Contact for pricing
110-45 71st Road, Forest Hills, NY 11375
Move-in ready office near transportation, ideal for medical or professional use.
Property Size600 SF
Price / SF$548.33
Days on Market178
Property Features for 110-45 71st Road
General Information
Standard status
Active
Size
600 SF
Property subtype
Office
Building Details
Year Built
1955
Year Renovated
2026
Stories
6
Units
1
Listing Agency:
RE/MAX City Square
(917) 733-7740
Listed By:
Mabel Sung · License #10401361033
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 13 at 9:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX City Square
Investment Insights
Based on property information with market context.
This ground-floor professional office space is ideally located near major transportation and highways, offering excellent visibility and convenience. The 600-square-foot layout includes two private offices and a waiting area, making it suitable for medical, dental, or other professional uses. The space has been fully renovated with fresh paint, new flooring, updated doors, and a modern bathroom. Security cameras are wired directly to the offices for monitoring. The property is located in the well-maintained Versailles building with street-level entry, moments from 71st–Continental Avenue (E, F, M, R), the Forest Hills LIRR, and multiple bus lines.
Key Highlights
- Move‑in ready: Enjoy fresh paint, new flooring, updated doors, and a modern bathroom.
- Excellent location: Near major transportation and highways.
- Ideal layout: Features two private offices and a waiting area.
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
$19,754
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
6.00%
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%
$395,080
$395.1K
Cap Rate 7%
$282,200
$282.2K
Cap Rate 9%
$219,489
$219.5K
Market Conditions
NOI Build-Up for 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
$30.2K $50.40/SF
− Vacancy
−$3.9K −$6.50/SF
EGI
$26.3K $43.90/SF
− OpEx
−$6.6K −$10.97/SF
NOI
$19.8K $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%
$395,080
Cap Rate 7%
$282,200
Cap Rate 9%
$219,489
Alternative Uses
Best Use
Office B
$282.2K
$246.9K – $329.2K
NOI $19,754 @ 7.0% cap · market cap 6.00%
Second Best
Healthcare Medical
$197.6K
$172.9K – $230.6K
NOI $13,835 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$442.3K
$387.0K – $516.1K
NOI $30,963 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,318
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready office near transportation, ideal for medical or professional use.
Where is this medical office space located?
The property is located at 110-45 71st Road Forest Hills, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Move‑in ready: Enjoy fresh paint, new flooring, updated doors, and a modern bathroom.; Excellent location: Near major transportation and highways.; Ideal layout: Features two private offices and a waiting area.
