Renovated Medical Office
131-07 40th Rd #E06 Queens, NY 11354
131-07 40th Rd #E06, Queens, NY, 11354
$1,688,000
For Sale
$1,688,000
Move-in ready suite with six treatment rooms and a large waiting area, supported by building security and elevators.
Property Size1,611 SF
Price / SF$1,047
Days on Market49
Property Features for 131-07 40th Rd #E06
General Information
- Standard status
- Active
- Size
- 1,611 SF
- Property subtype
- Commercial
Listing agency
Great Ocean Realty
(718) 687-8329
Listed by
Guangyun Xiao · License #10401279517
(718) 687-8329
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 4:00PM Checked: Jul 21 at 6:44AM
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 Great Ocean Realty
Investment Insights
Based on property information with market context.
This renovated office suite is in move-in condition and laid out for client-facing use. The interior features six treatment rooms, two offices, and a large waiting room, making the space workable for medical, dental, beauty, or professional office uses. Elevators are available in the building, and security guard service supports day-to-day operations.
The property is located in the center of Flushing and is described as being in a landmark building of Skyview. Access is supported by nearby transit options, including the #7 subway train, buses, express buses, LIRR, and commuter mini-buses to Manhattan and Brooklyn. The area also includes restaurants, a library, banks, shopping, and supermarkets, with major highways nearby.
With its clinic-style room count and waiting area, the suite is a practical fit for operators seeking a turn-key space rather than a buildout. The configuration also supports office alternatives beyond healthcare, including law office or general professional office use, subject to applicable approvals and use requirements.
The property is located in the center of Flushing and is described as being in a landmark building of Skyview. Access is supported by nearby transit options, including the #7 subway train, buses, express buses, LIRR, and commuter mini-buses to Manhattan and Brooklyn. The area also includes restaurants, a library, banks, shopping, and supermarkets, with major highways nearby.
With its clinic-style room count and waiting area, the suite is a practical fit for operators seeking a turn-key space rather than a buildout. The configuration also supports office alternatives beyond healthcare, including law office or general professional office use, subject to applicable approvals and use requirements.
Key Highlights
- 1611 SF office suite in Landmark Building of Skyview, offered move‑in ready
- Completely renovated in recent years and ready to occupy
- Includes six treatment rooms and a large waiting room
Local 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 3.14%
Second Best
Healthcare Medical
$530.7K
$464.3K – $619.1K
NOI $37,146 @ 7.0% cap · market cap 2.20%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,135 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
American Cancer Society
Charitable Organization
SkyView EyeCare and Optical ...
Medical Clinic
SP+ Parking
Parking Lot & Garage
AT&T Store
Telecommunications Service
ABI Health Care ...
Home Health Care Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Move-in ready suite with six treatment rooms and a large waiting area, supported by building security and elevators.
Where is this office units located?
The property is located at 131-07 40th Rd #E06 Queens, NY.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: 1611 SF office suite in Landmark Building of Skyview, offered move‑in ready; Completely renovated in recent years and ready to occupy; Includes six treatment rooms and a large waiting room
