Medical Office Suite with Treatment
New
For Sale
$1,500,000
131-07 40th Road Unit E20, Flushing, NY 11354
Existing clinical buildout includes private rooms, reception space, and a dedicated office for professional healthcare use.
Property Size1,515 SF
Days on Market5
Property Features for 131-07 40th Road Unit E20
General Information
Standard status
Active
Size
1,515 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,207
Building Details
Building Size
1,515 SF
Listing Agency:
Tiffany Moves You Inc
(917) 981-8736
Listed By:
Tiffany C. Wong
Source:
Barbieliteam
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 6:31AM
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 Tiffany Moves You Inc
Investment Insights
Based on property information with market context.
This medical office suite occupies a functional, polished interior within the Skyview complex. The existing configuration includes approximately five private treatment suites, a separate office, and reception and waiting areas. Most treatment rooms have sinks and sharps containers, supporting the current medical-spa layout and providing useful infrastructure for healthcare, wellness, aesthetic, or other professional operations, subject to applicable approvals.
The property is located in Flushing within a mixed-use complex surrounded by shopping, dining, and transportation options. Its established room configuration and finished client-facing areas may help an owner-user avoid extensive interior reconfiguration, depending on the intended use and required licensing, zoning, and building approvals. Buyers should independently verify permitted use and all applicable condominium requirements.
The property is located in Flushing within a mixed-use complex surrounded by shopping, dining, and transportation options. Its established room configuration and finished client-facing areas may help an owner-user avoid extensive interior reconfiguration, depending on the intended use and required licensing, zoning, and building approvals. Buyers should independently verify permitted use and all applicable condominium requirements.
Key Highlights
- Approximately five private treatment suites plus a separate office
- Most treatment rooms include sinks and sharps containers
- Reception and waiting areas create a finished client‑facing entry
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
$49,880
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
3.33%
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%
$997,600
$997.6K
Cap Rate 7%
$712,571
$712.6K
Cap Rate 9%
$554,222
$554.2K
Market Conditions
NOI Build-Up for 1,515 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
$76.4K $50.40/SF
− Vacancy
−$9.8K −$6.50/SF
EGI
$66.5K $43.90/SF
− OpEx
−$16.6K −$10.97/SF
NOI
$49.9K $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%
$997,600
Cap Rate 7%
$712,571
Cap Rate 9%
$554,222
Alternative Uses
Best Use
Office B
$712.6K
$623.5K – $831.3K
NOI $49,880 @ 7.0% cap · market cap 3.33%
Second Best
Healthcare Medical
$499.0K
$436.7K – $582.2K
NOI $34,933 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.12M
$977.3K – $1.30M
NOI $78,181 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,554
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical buildout includes private rooms, reception space, and a dedicated office for professional healthcare use.
Where is this medical office space located?
The property is located at 131-07 40th Road Unit E20 Flushing, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately five private treatment suites plus a separate office; Most treatment rooms include sinks and sharps containers; Reception and waiting areas create a finished client‑facing entry
