Street-Level Dental Office
For Sale
$388,000
6940 Yellowstone Boulevard Unit 9 & 10, Forest Hills, NY 11375
Combined co-op units configured as a dental office with a private street-level entrance and flexible exam and office rooms.
Property Size1,326 SF
Price / SF$292.61
Days on Market47
Property Features for 6940 Yellowstone Boulevard Unit 9 & 10
General Information
Standard status
Active
Size
1,326 SF
Property subtype
Business
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
Street Level
HOA Fee
$2,736
Office Units
2
Building Details
Building Size
1,326 SF
Tenancy
Multi
Abandoned
No
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Source:
Barbieliteam
Added: Jul 28
Changed: Sep 11
Last Checked: Sep 12 at 8:33AM
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 Mitra Hakimi Realty Group LLC
Investment Insights
Based on property information with market context.
This combined street-level medical office co-op features Units 9 & 10 at 6940 Yellowstone Boulevard and is currently configured and operating as a dental office. The two units have been seamlessly combined into one expansive professional suite with approximately 1,326 square feet of flexible space, designed for day-to-day patient care and professional services.
The suite includes its own private street-level entrance, providing direct accessibility and visibility for clients and patients. Inside, the layout features a welcoming reception and sitting area, multiple treatment or consultation rooms, private offices, utility space, abundant storage, and numerous closets. There are also two bathrooms within the suite.
With its location in Forest Hills, the space is near the Austin Street shopping and dining district. Transit access is convenient, with the Forest Hills–71 Av Station (E, F, M, and R subway lines) and the Forest Hills LIRR station within walking distance, along with nearby bus service including the Q23 and express buses to Midtown.
The suite includes its own private street-level entrance, providing direct accessibility and visibility for clients and patients. Inside, the layout features a welcoming reception and sitting area, multiple treatment or consultation rooms, private offices, utility space, abundant storage, and numerous closets. There are also two bathrooms within the suite.
With its location in Forest Hills, the space is near the Austin Street shopping and dining district. Transit access is convenient, with the Forest Hills–71 Av Station (E, F, M, and R subway lines) and the Forest Hills LIRR station within walking distance, along with nearby bus service including the Q23 and express buses to Midtown.
Key Highlights
- Combined co‑op Units 9 & 10 configured as an operating dental office
- Approximately 1,326 SF flexible medical office suite
- Private street‑level entrance for direct client and patient access
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
$30,575
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
7.88%
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%
$611,500
$611.5K
Cap Rate 7%
$436,786
$436.8K
Cap Rate 9%
$339,722
$339.7K
Market Conditions
NOI Build-Up for 1,326 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
$55.7K $42.00/SF
− Vacancy
−$4.7K −$3.57/SF
EGI
$51.0K $38.43/SF
− OpEx
−$20.4K −$15.37/SF
NOI
$30.6K $23.06/SF
Area
Queens County, NY
Vacancy
8.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
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%
$611,500
Cap Rate 7%
$436,786
Cap Rate 9%
$339,722
Alternative Uses
Best Use
Office B
$623.7K
$545.7K – $727.6K
NOI $43,657 @ 7.0% cap · market cap 11.25%
Second Best
Healthcare Medical
$436.8K
$382.2K – $509.6K
NOI $30,575 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$977.5K
$855.4K – $1.14M
NOI $68,428 @ 7.0% cap · market cap 17.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,754
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
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.
Similar Off Market Nearby
- Premier Veterinary Medical Group - Forest Hills — 11249 Queens Blvd, Forest Hills, NY 11375
- Bond Vets - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Bond Vet - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Steinway Court Veterinarian hospital — 107-28 71st Rd, Queens, NY 11375
- NYC Veterinary Specialists and 24 Hour Animal Emergency - Queens — 107-28 71st Rd, Forest Hills, NY 11375
Frequently Asked Questions
What type of property is this?
Medical Office Space - Combined co-op units configured as a dental office with a private street-level entrance and flexible exam and office rooms.
Where is this medical office space located?
The property is located at 6940 Yellowstone Boulevard Unit 9 & 10 Forest Hills, NY.
What is the asking price?
The asking price for this property is $388,000.
What are key features of this property?
This property features: Combined co‑op Units 9 & 10 configured as an operating dental office; Approximately 1,326 SF flexible medical office suite; Private street‑level entrance for direct client and patient access
