Medical Office
For Sale
Contact for pricing
11203 Queens Blvd, Queens, NY 11375
Move-in ready surgical layout with operating room, exam rooms, lab, and reception area.
Property Size1,125 SF
Price / SF$825.78
Days on Market50
Property Features for 11203 Queens Blvd
General Information
Standard status
Active
Size
1,125 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
2
Office Units
1
Amenities
natural lighting
recessed and overhead lighting
central air conditioning
Listing Agency:
The Corcoran Group | East Side
(800) 544-4055
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Moodyscre
Added: Jul 28
Changed: Sep 11
Last Checked: Sep 15 at 11:06AM
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 The Corcoran Group | East Side
Investment Insights
Based on property information with market context.
Suite 205 is a 1,125-square-foot medical office on the second floor of a condominium building. The move-in ready surgical suite includes a large waiting room, accredited operating room, two exam rooms, two office or consult rooms, a lab, reception with file area, and two restrooms. The space is configured as a plastic surgery practice and can accommodate other medical specialties. It includes natural lighting, recessed and overhead lighting, and central air conditioning.
The property is near public transportation, including the E and F train lines, Long Island Railroad, and local buses. Regional access includes the Grand Central Parkway, Long Island Expressway, Van Wyck Expressway, and Jackie Robinson Parkway. The suite is positioned between Kennedy International and LaGuardia Airports.
The property is near public transportation, including the E and F train lines, Long Island Railroad, and local buses. Regional access includes the Grand Central Parkway, Long Island Expressway, Van Wyck Expressway, and Jackie Robinson Parkway. The suite is positioned between Kennedy International and LaGuardia Airports.
Key Highlights
- 1,125‑square‑foot medical office on the second floor
- Move‑in ready surgical suite with an accredited operating room
- Two exam rooms, two office or consult rooms, lab, reception, and file 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
$37,039
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
3.99%
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%
$740,780
$740.8K
Cap Rate 7%
$529,129
$529.1K
Cap Rate 9%
$411,544
$411.5K
Market Conditions
NOI Build-Up for 1,125 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
$56.7K $50.40/SF
− Vacancy
−$7.3K −$6.50/SF
EGI
$49.4K $43.90/SF
− OpEx
−$12.3K −$10.97/SF
NOI
$37.0K $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%
$740,780
Cap Rate 7%
$529,129
Cap Rate 9%
$411,544
Alternative Uses
Best Use
Office B
$529.1K
$463.0K – $617.3K
NOI $37,039 @ 7.0% cap · market cap 3.99%
Second Best
Healthcare Medical
$370.6K
$324.3K – $432.3K
NOI $25,940 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$829.4K
$725.7K – $967.6K
NOI $58,055 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,882
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready surgical layout with operating room, exam rooms, lab, and reception area.
Where is this medical office space located?
The property is located at 11203 Queens Blvd Queens, NY.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: 1,125‑square‑foot medical office on the second floor; Move‑in ready surgical suite with an accredited operating room; Two exam rooms, two office or consult rooms, lab, reception, and file area
