Building Details

Building Size 885 SF

Year Built 2023

Buildings 1

Tenancy Multi

Listing Agency: P R O Links Realty Inc

Listed By: Siang Liu Show Phone

Source: Barbieliteam

Added: Aug 7, 2025 Changed: Oct 16 Last Checked: Oct 21 at 2:54AM

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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.

Completed in 2023, this mixed-use property on Queens Boulevard combines street-level retail with professional, medical, and residential components. The commercial program includes two retail spaces, 16 office or medical suites, and one dedicated medical space. The building also contains 28 condominiums, creating a broad mix of commercial and residential uses within one development.

The property is located in Kew Gardens, steps from the Queens Criminal and Supreme Courts. That setting supports businesses serving courthouse users and nearby professionals, including law firms and legal service providers, as well as retail, café, and service-oriented occupants.

Key Highlights

• Two street‑level retail spaces
• 16 office or medical suites plus one dedicated medical space
• 28 condominiums within the development

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,138

Cap Rate

3.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$582,760 $582.8K

Cap Rate 7%

$416,257 $416.3K

Cap Rate 9%

$323,756 $323.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 885 SF

Gross rent

$44.6K $50.40/SF

− Vacancy

−$5.8K −$6.50/SF

EGI

$38.9K $43.90/SF

− OpEx

−$9.7K −$10.97/SF

NOI

$29.1K $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%

$582,760

Cap Rate 7%

$416,257

Cap Rate 9%

$323,756

Alternative Uses

Best Use

Office B

$416.3K

$364.2K – $485.6K (±1% cap)

NOI $29,138 @ 7.0% cap · market cap 3.44%

Second Best

Healthcare Medical

$291.5K

$255.1K – $340.1K (±1% cap)

NOI $20,406 @ 7.0% cap · market cap 2.41%

Theoretical Best

Office A

$652.4K

$570.9K – $761.2K (±1% cap)

NOI $45,670 @ 7.0% cap · market cap 5.40%

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

Location Intelligence

Trade Area within ½ mile

3,528

Businesses Nearby

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

Similar For Sale Nearby

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$1,025,000

0.06 Acres

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Brick Duplex with Garages

84-33 120th Street, Kew Gardens, NY 11415

$1,699,999

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Apartment Building

125-10 Queens Boulevard, Kew Gardens, NY 11415

$1,380,000

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Detached Duplex with Private Garage

85-29 123rd Street, Kew Gardens, NY 11415

$1,125,000

0.07 Acres

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Renovated Brick Duplex

84-124 Austin St, Kew Gardens, NY 11415

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Street-level commercial space is complemented by office, medical, and residential components.

Where is this mixed-use property located?

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

What is the asking price?

The asking price for this property is $846,000.

What are key features of this property?

This property features: Two street‑level retail spaces; 16 office or medical suites plus one dedicated medical space; 28 condominiums within the development