Building Details

Building Size 717 SF

Year Built 2023

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.

This 717-square-foot medical office suite is located at 124-28 Queens Boulevard in Kew Gardens. The building was completed in 2023 and also includes office and medical suites, street-level retail space, and condominiums.

The property is steps from the Queens Criminal and Supreme Courts, placing it near courthouse-related activity in the neighborhood.

Key Highlights

• 717‑square‑foot medical office suite
• Located at 124‑28 Queens Boulevard in Kew Gardens
• Building completed in 2023

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,606

Cap Rate

3.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$472,120 $472.1K

Cap Rate 7%

$337,229 $337.2K

Cap Rate 9%

$262,289 $262.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 717 SF

Gross rent

$36.1K $50.40/SF

− Vacancy

−$4.7K −$6.50/SF

EGI

$31.5K $43.90/SF

− OpEx

−$7.9K −$10.97/SF

NOI

$23.6K $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%

$472,120

Cap Rate 7%

$337,229

Cap Rate 9%

$262,289

Alternative Uses

Best Use

Office B

$337.2K

$295.1K – $393.4K (±1% cap)

NOI $23,606 @ 7.0% cap · market cap 3.47%

Second Best

Healthcare Medical

$236.2K

$206.7K – $275.6K (±1% cap)

NOI $16,533 @ 7.0% cap · market cap 2.43%

Theoretical Best

Office A

$528.6K

$462.5K – $616.7K (±1% cap)

NOI $37,001 @ 7.0% cap · market cap 5.44%

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

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

Similar For Sale Nearby

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

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Two-Unit Duplex with Finished Basement

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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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Renovated Brick Duplex

84-124 Austin St, Kew Gardens, NY 11415

$1,199,000

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Similar Off Market Nearby

• Kew Gardens Animal Hospital — 118-27 Metropolitan Ave, Kew Gardens, NY 11415
• Premier Veterinary Medical Group - Forest Hills — 11249 Queens Blvd, Forest Hills, NY 11375
• Steinway Court Veterinarian hospital — 107-28 71st Rd, Queens, NY 11375
• NYC Veterinary Specialists and 24 Hour Animal Emergency - Queens — 107-28 71st Rd, Forest Hills, NY 11375
• BluePearl Pet Hospital — 107-28 71st Rd, Queens, NY 11375

Frequently Asked Questions

What type of property is this?

Medical Office Space - A compact professional suite occupies a recently completed Queens Boulevard building near the Queens Criminal and Supreme Courts.

Where is this medical office space located?

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

What is the asking price?

The asking price for this property is $680,000.

What are key features of this property?

This property features: 717‑square‑foot medical office suite; Located at 124‑28 Queens Boulevard in Kew Gardens; Building completed in 2023