Fully Renovated Medical Office with Treatment
For Sale
$1,680,000
131-07 40th Road, Flushing, NY 11354
Fully renovated medical office suite featuring six treatment rooms, private offices, elevator access, and 24-hour security.
Property Size1,611 SF
Price / SF$1,042
Days on Market173
Property Features for 131-07 40th Road
General Information
Standard status
Active
Size
1,611 SF
Elevators
Yes
Property subtype
Office
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
HOA Fee
$1,200
Amenities
24-hour security
Building Details
Building Size
1,611 SF
Listing Agency:
Lin Pan Realty Group LLC
(917) 902-8853
Listed By:
Lin Pan
Source:
Cbwarburg
Added: Feb 12
Changed: Jul 31
Last Checked: Aug 3 at 11:04AM
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 Lin Pan Realty Group LLC
Investment Insights
Based on property information with market context.
Fully renovated medical office space in move-in condition, configured with six treatment rooms, two private offices, and a large waiting and reception area. The suite totals 1,611 SF and includes elevator access and 24-hour security.
Located in central Flushing, NY, with transit options nearby including the #7 subway, buses, express buses, LIRR, and commuter mini buses with easy access to major highways. The area is surrounded by restaurants, banks, a library, shopping centers, and supermarkets, with ample parking available for patients and staff.
Located in central Flushing, NY, with transit options nearby including the #7 subway, buses, express buses, LIRR, and commuter mini buses with easy access to major highways. The area is surrounded by restaurants, banks, a library, shopping centers, and supermarkets, with ample parking available for patients and staff.
Key Highlights
- 1,611 SF medical office suite in move‑in condition
- Configured with six treatment rooms plus a large waiting and reception area
- Includes two private offices
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.2k | $50.40 |
| − Vacancy | −$10.5k | −$6.50 |
| EGI | $70.7k | $43.90 |
| − OpEx | −$17.7k | −$10.97 |
| NOI | $53.0k | $32.92 |
1,611 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$757.7K
$663.0K – $884.0K
NOI $53,040 @ 7.0% cap · market cap 3.16%
Second Best
Healthcare Medical
$530.7K
$464.3K – $619.1K
NOI $37,146 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,135 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,547
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
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 - Fully renovated medical office suite featuring six treatment rooms, private offices, elevator access, and 24-hour security.
Where is this medical office space located?
The property is located at 131-07 40th Road Flushing, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: 1,611 SF medical office suite in move‑in condition; Configured with six treatment rooms plus a large waiting and reception area; Includes two private offices
