Building Details

Building Size 1,039 SF

Year Built 2023

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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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This medical office space is part of a 2023 building on Queens Boulevard. The property includes 16 office or medical suites and one dedicated medical space, along with two street-level retail spaces and 28 condominiums.

The building is steps from the Queens Criminal and Supreme Courts, placing it near courthouse activity in Kew Gardens.

Key Highlights

• Building completed in 2023
• 16 office or medical suites, plus one dedicated medical space
• Two street‑level retail spaces and 28 condominiums in the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,208

Cap Rate

3.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$684,160 $684.2K

Cap Rate 7%

$488,686 $488.7K

Cap Rate 9%

$380,089 $380.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,039 SF

Gross rent

$52.4K $50.40/SF

− Vacancy

−$6.8K −$6.50/SF

EGI

$45.6K $43.90/SF

− OpEx

−$11.4K −$10.97/SF

NOI

$34.2K $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%

$684,160

Cap Rate 7%

$488,686

Cap Rate 9%

$380,089

Alternative Uses

Best Use

Office B

$488.7K

$427.6K – $570.1K (±1% cap)

NOI $34,208 @ 7.0% cap · market cap 3.52%

Second Best

Healthcare Medical

$342.2K

$299.5K – $399.3K (±1% cap)

NOI $23,957 @ 7.0% cap · market cap 2.47%

Theoretical Best

Office A

$766.0K

$670.2K – $893.6K (±1% cap)

NOI $53,617 @ 7.0% cap · market cap 5.52%

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

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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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
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Frequently Asked Questions

What type of property is this?

Medical Office Space - Located in a 2023 building with office and medical suites.

Where is this medical office space located?

The property is located at 124-28 Queens Boulevard #4B Kew Gardens, NY.

What is the asking price?

The asking price for this property is $971,000.

What are key features of this property?

This property features: Building completed in 2023; 16 office or medical suites, plus one dedicated medical space; Two street‑level retail spaces and 28 condominiums in the building