Ground-Floor Medical
For Sale
$397,000
11045 QUEENS BLVD Unit 103, Flushing, NY 11375
Configured for clinical use with exam rooms, reception functions, central air, and direct entry from a doorman building.
Property Size732 SF
Price / SF$542.35
Days on Market249
Property Features for 11045 QUEENS BLVD Unit 103
General Information
Standard status
Active
Size
732 SF
Property subtype
Office
Additional Details
Floor
Ground Floor
Public Transit
Yes
Amenities
Central Air
3
Listing Agency:
City Realty Group
(646) 805-8688
Listed By:
Emmy Cai
(646) 805-8688
Source:
Xome
Added: Dec 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:43PM
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 City Realty Group
Investment Insights
Based on property information with market context.
This ground-floor medical office condo at 11045 Queens Blvd includes a reception area, waiting room, three exam rooms, a bathroom, and a staff room. Central air is installed, and the suite has direct access from a doorman building, supporting convenient arrival for patients and staff.
The property is near the M/R subway station and Long Island Jewish Forest Hills Hospital, with additional medical and dental practices in the surrounding area. Starbucks, Chase Bank, CVS Pharmacy, and Dunkin' Donuts are also nearby. Its Queens Blvd and 67th Avenue setting places the office within an established healthcare and retail environment.
The property is near the M/R subway station and Long Island Jewish Forest Hills Hospital, with additional medical and dental practices in the surrounding area. Starbucks, Chase Bank, CVS Pharmacy, and Dunkin' Donuts are also nearby. Its Queens Blvd and 67th Avenue setting places the office within an established healthcare and retail environment.
Key Highlights
- Ground‑floor medical office condo at 11045 Queens Blvd, Unit 103
- Layout includes reception, waiting room, 3 exam rooms, bathroom, and staff room
- Central air conditioning installed
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
$24,100
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
6.07%
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%
$482,000
$482.0K
Cap Rate 7%
$344,286
$344.3K
Cap Rate 9%
$267,778
$267.8K
Market Conditions
NOI Build-Up for 732 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
$36.9K $50.40/SF
− Vacancy
−$4.8K −$6.50/SF
EGI
$32.1K $43.90/SF
− OpEx
−$8.0K −$10.97/SF
NOI
$24.1K $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%
$482,000
Cap Rate 7%
$344,286
Cap Rate 9%
$267,778
Alternative Uses
Best Use
Office B
$344.3K
$301.3K – $401.7K
NOI $24,100 @ 7.0% cap · market cap 6.07%
Second Best
Healthcare Medical
$241.1K
$211.0K – $281.3K
NOI $16,878 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$539.6K
$472.2K – $629.6K
NOI $37,775 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,377
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
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Similar Off Market Nearby
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- Bond Vets - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Bond Vet - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Steinway Court Veterinarian hospital — 107-28 71st Rd, Queens, NY 11375
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for clinical use with exam rooms, reception functions, central air, and direct entry from a doorman building.
Where is this medical office space located?
The property is located at 11045 QUEENS BLVD Unit 103 Flushing, NY.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Ground‑floor medical office condo at 11045 Queens Blvd, Unit 103; Layout includes reception, waiting room, 3 exam rooms, bathroom, and staff room; Central air conditioning installed
