Building Details

Building Size 640 SF

Year Built 2023

Buildings 1

Tenancy Multi

Listing Agency: P R O Links Realty Inc i***@prolinksrealty.com Show Phone

Listed By: Siang Liu Show Phone

Source: Croninreale

Added: Aug 7, 2025 Changed: Oct 23 Last Checked: Oct 23 at 9:50AM

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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 P R O Links Realty Inc

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Investment Insights

Based on property information with market context.

Suite 3A offers 640 square feet of medical office space in a building completed in 2023. The mixed-use property also includes 16 office or medical suites, one dedicated medical space, two street-level retail spaces, and 28 condominiums.

Located on Queens Boulevard, the building is steps from the Queens Criminal and Supreme Courts, with retail uses at street level and office space above.

Key Highlights

• 640‑square‑foot medical office suite, Suite 3A
• Building completed in 2023
• Mixed‑use building includes 16 office or medical suites and one dedicated medical space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,071

Cap Rate

3.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$421,420 $421.4K

Cap Rate 7%

$301,014 $301.0K

Cap Rate 9%

$234,122 $234.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 640 SF

Gross rent

$32.3K $50.40/SF

− Vacancy

−$4.2K −$6.50/SF

EGI

$28.1K $43.90/SF

− OpEx

−$7.0K −$10.97/SF

NOI

$21.1K $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 Rate 5%

$421,420

Cap Rate 7%

$301,014

Cap Rate 9%

$234,122

Alternative Uses

Best Use

Office B

$301.0K

$263.4K – $351.2K (±1% cap)

NOI $21,071 @ 7.0% cap · market cap 3.56%

Second Best

Healthcare Medical

$210.8K

$184.5K – $246.0K (±1% cap)

NOI $14,757 @ 7.0% cap · market cap 2.49%

Theoretical Best

Office A

$471.8K

$412.8K – $550.5K (±1% cap)

NOI $33,027 @ 7.0% cap · market cap 5.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Kew Gardens Towers Condominium Complex

Suggested Use

Top Pick Hotel & Motel Big Box & Wholesale Store Nursing Home Catering Service Tattoo & Piercing Shop Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

17

Office units

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

3,528

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11415, NY

20,241

Population

9,794

Households

2.1

Avg Household Size

41

Median Age

53%

College-Educated

89%

High-School Grad

0.6 sq mi

ZIP Area

33,735

Density / Sq Mi

$88,632

Median Household Income

$60,950

Median Earnings

$1,909

Median Rent

$367,900

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Apartment Building

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Frequently Asked Questions

What type of property is this?

Medical Office Space - A medical office suite within a mixed-use building near the Queens Criminal and Supreme Courts.

Where is this medical office space located?

The property is located at 124-28 Queens Boulevard #3A Kew Gardens, NY.

What is the asking price?

The asking price for this property is $592,000.

What are key features of this property?

This property features: 640‑square‑foot medical office suite, Suite 3A; Building completed in 2023; Mixed‑use building includes 16 office or medical suites and one dedicated medical space