Elmhurst Commercial Unit with
For Sale
$199,800
87-14 57th Rd Prof C, Queens, NY 11373
Move-in ready 328 SF commercial unit with private balcony.
Property Size328 SF
Price / SF$609.15
Days on Market128
Property Features for 87-14 57th Rd Prof C
General Information
Standard status
Active
Size
328 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,980
Building Details
Building Size
328 SF
Year Built
1986
Listing Agency:
Winzone Realty Inc
(347) 781-8888
Listed By:
Victoria Chang
(347) 781-8888
Source:
Elliman
Added: Apr 27
Changed: Aug 27
Last Checked: Aug 30 at 9:19PM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This is a 328 square foot legal commercial professional unit located in a well-maintained elevator building in the heart of Elmhurst. The unit is newly painted and move-in ready. It features a brand-new cooking oven and refrigerator, making it suitable for office, studio, or professional use where light food preparation is permitted. A private balcony is accessible through floor-to-ceiling grid windows, providing natural light and an open feel. Laundry facilities, including a washer and dryer, are available in the building. The location is two blocks from the M and R subway lines, offering access to transportation, shops, and restaurants. The location has a walk score of 98, a bike score of 75, and a transit score of 100.
Key Highlights
- Prime location: Walker's Paradise (walkScore 98) and Rider's Paradise (transitScore 100), with easy access to transportation, shops, and restaurants.
- Legal commercial/professional unit in a well‑maintained elevator building.
- Private balcony with floor‑to‑ceiling grid windows offering great natural light.
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
$10,799
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
5.40%
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%
$215,980
$216.0K
Cap Rate 7%
$154,271
$154.3K
Cap Rate 9%
$119,989
$120.0K
Market Conditions
NOI Build-Up for 328 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
$16.5K $50.40/SF
− Vacancy
−$2.1K −$6.50/SF
EGI
$14.4K $43.90/SF
− OpEx
−$3.6K −$10.97/SF
NOI
$10.8K $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%
$215,980
Cap Rate 7%
$154,271
Cap Rate 9%
$119,989
Alternative Uses
Best Use
Office B
$154.3K
$135.0K – $180.0K
NOI $10,799 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.8K
$211.6K – $282.1K
NOI $16,926 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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?
Office units - Move-in ready 328 SF commercial unit with private balcony.
Where is this office units located?
The property is located at 87-14 57th Rd Prof C Queens, NY.
What is the asking price?
The asking price for this property is $199,800.
What are key features of this property?
This property features: Prime location: Walker's Paradise (walkScore 98) and Rider's Paradise (transitScore 100), with easy access to transportation, shops, and restaurants.; Legal commercial/professional unit in a well‑maintained elevator building.; Private balcony with floor‑to‑ceiling grid windows offering great natural light.
