Six-Story Medical Office
For Sale
Contact for pricing
16303 Horace Harding Expy, Fresh Meadows, NY 11365
Six-story medical office building with 9 offices, elevator service, and 65 parking spaces plus 4 antennas.
Property Size41,000 SF
Price / SF$536.59
Days on Market485
Property Features for 16303 Horace Harding Expy
General Information
Standard status
Active
Size
41,000 SF
Total Parking Spaces
65
Elevators
Yes
Property subtype
OFFICE
Additional Details
Office Units
9
Building Details
Buildings
1
Stories
6
Listing Agency:
Rosewood Realty Group
(212) 359-9900
Listed By:
Aaron Jungreis
(212) 359-9901
Source:
Moodyscre
Added: May 20, 2025
Changed: Sep 14
Last Checked: Sep 16 at 1:14PM
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 Rosewood Realty Group
Investment Insights
Based on property information with market context.
This six-story elevator medical office building offers 9 medical offices. The property also includes 4 antennas, supporting on-site communications needs. Parking is available with 65 spaces, designed to serve staff and patients.
Located at 16303 Horace Harding Expy in Fresh Meadows, NY 11365, the building’s setup is geared toward medical tenant operations that benefit from dedicated office space and convenient on-site parking.
Overall, the configuration of multiple exam or practice offices within an elevator-served structure can support medical use requiring separate suites for different practices.
Located at 16303 Horace Harding Expy in Fresh Meadows, NY 11365, the building’s setup is geared toward medical tenant operations that benefit from dedicated office space and convenient on-site parking.
Overall, the configuration of multiple exam or practice offices within an elevator-served structure can support medical use requiring separate suites for different practices.
Key Highlights
- Six‑story elevator medical office building
- 9 medical offices
- 4 antennas on site
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
$1,349,876
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
6.14%
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%
$26,997,520
$27.0M
Cap Rate 7%
$19,283,943
$19.3M
Cap Rate 9%
$14,998,622
$15.0M
Market Conditions
NOI Build-Up for 41,000 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
$2.07M $50.40/SF
− Vacancy
−$266.6K −$6.50/SF
EGI
$1.80M $43.90/SF
− OpEx
−$450.0K −$10.97/SF
NOI
$1.35M $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%
$26,997,520
Cap Rate 7%
$19,283,943
Cap Rate 9%
$14,998,622
Alternative Uses
Best Use
Office B
$19.28M
$16.87M – $22.50M
NOI $1,349,876 @ 7.0% cap · market cap 6.14%
Second Best
Healthcare Medical
$13.51M
$11.82M – $15.76M
NOI $945,378 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$30.23M
$26.45M – $35.26M
NOI $2,115,797 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9
Office units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11365, NY
46,908
Population
16,626
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
2.5 sq mi
ZIP Area
18,763
Density / Sq Mi
$85,375
Median Household Income
$51,458
Median Earnings
$1,869
Median Rent
$911,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Six-story medical office building with 9 offices, elevator service, and 65 parking spaces plus 4 antennas.
Where is this medical office space located?
The property is located at 16303 Horace Harding Expy Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: Six‑story elevator medical office building; 9 medical offices; 4 antennas on site
