Fully Renovated Medical Office
For Sale
$1,560,000
157-14 20TH Rd, Queens, NY 11357
All-brick detached property currently set up as a professional medical clinic on the first floor.
Property Size2,562 SF
Days on Market135
Property Features for 157-14 20TH Rd
General Information
Standard status
Active
Size
2,562 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,512
Building Details
Building Size
2,562 SF
Year Built
1955
Units
2
Listing Agency:
E Realty International Corp
Listed By:
Xiao H. Chen · License #10401299357
(646) 508-9880
Source:
Elliman
Added: Apr 24
Changed: Aug 25
Last Checked: Sep 4 at 3:09PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
Fully renovated, all-brick detached single-family home with office space in Whitestone. The first floor is currently configured as a professional medical clinic with 2 bedrooms and 2 bathrooms. The second floor provides a 3-bedroom, 2-bathroom layout with a private balcony and bright skylights. A high-ceiling basement includes a separate entrance, and the property features a spacious backyard with a sunny Florida room.
The home has a double driveway and a detached garage. It is served by 3 separate electric meters and 2 gas meters, supporting flexible occupancy. Commuter access is supported by nearby Q76 bus service to Flushing and QM express service to Manhattan.
Overall, the property is described as move-in ready and is configured for both medical clinic use and additional residential layout on upper levels.
The home has a double driveway and a detached garage. It is served by 3 separate electric meters and 2 gas meters, supporting flexible occupancy. Commuter access is supported by nearby Q76 bus service to Flushing and QM express service to Manhattan.
Overall, the property is described as move-in ready and is configured for both medical clinic use and additional residential layout on upper levels.
Key Highlights
- 1955 all‑brick detached home with fully renovated interior and high‑ceiling basement with separate entrance
- First floor configured as a professional medical clinic with 2 bedrooms and 2 bathrooms
- Second floor features 3 bedrooms, 2 bathrooms, private balcony, and bright skylights
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
$84,351
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
5.41%
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%
$1,687,020
$1.7M
Cap Rate 7%
$1,205,014
$1.2M
Cap Rate 9%
$937,233
$937.2K
Market Conditions
NOI Build-Up for 2,562 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
$129.1K $50.40/SF
− Vacancy
−$16.7K −$6.50/SF
EGI
$112.5K $43.90/SF
− OpEx
−$28.1K −$10.97/SF
NOI
$84.4K $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%
$1,687,020
Cap Rate 7%
$1,205,014
Cap Rate 9%
$937,233
Alternative Uses
Best Use
Office B
$1.21M
$1.05M – $1.41M
NOI $84,351 @ 7.0% cap · market cap 5.41%
Second Best
Healthcare Medical
$843.9K
$738.4K – $984.6K
NOI $59,075 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,211 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,076
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - All-brick detached property currently set up as a professional medical clinic on the first floor.
Where is this medical office space located?
The property is located at 157-14 20TH Rd Queens, NY.
What is the asking price?
The asking price for this property is $1,560,000.
What are key features of this property?
This property features: 1955 all‑brick detached home with fully renovated interior and high‑ceiling basement with separate entrance; First floor configured as a professional medical clinic with 2 bedrooms and 2 bathrooms; Second floor features 3 bedrooms, 2 bathrooms, private balcony, and bright skylights
