Open-Plan Medical Office
For Sale
$2,290,000
132-03 Sanford Avenue 1a, Flushing, NY 11355
A private office and rear break area with built-in cabinetry complement the flexible central workspace.
Property Size2,231 SF
Price / SF$1,026
Days on Market9
Property Features for 132-03 Sanford Avenue 1a
General Information
Standard status
Active
Size
2,231 SF
Additional Details
Public Transit
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$13,882
Amenities
Hardwood
1
7
No
Public
2231
Building Details
Building Size
2,231 SF
Year Built
2006
Stories
7
Listing Agency:
(516) 703-2918
Listed By:
Hassan Mahmood
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:40PM
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 Hassan Mahmood
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Investment Insights
Based on property information with market context.
This 2,231-square-foot medical office space in Flushing has an open central area, a separate private office, and a rear break area fitted with built-in cabinetry. Hardwood flooring is listed among the interior features. The building dates to 2006.
The property is at 132-03 Sanford Avenue, near Main Street and public transportation options that include the 7 train, LIRR, and multiple bus lines. Shopping, dining, schools, and parks are also identified in the surrounding area.
The space is described as suitable for medical, professional, educational, institutional, and community facility uses.
The property is at 132-03 Sanford Avenue, near Main Street and public transportation options that include the 7 train, LIRR, and multiple bus lines. Shopping, dining, schools, and parks are also identified in the surrounding area.
The space is described as suitable for medical, professional, educational, institutional, and community facility uses.
Key Highlights
- 2,231 square feet of medical office space
- Open central workspace with a separate private office
- Rear break area includes built‑in cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,453
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,060
$1.5M
Cap Rate 7%
$1,049,329
$1.0M
Cap Rate 9%
$816,144
$816.1K
Market Conditions
NOI Build-Up for 2,231 SF
Gross rent
$112.4K $50.40/SF
− Vacancy
−$14.5K −$6.50/SF
EGI
$97.9K $43.90/SF
− OpEx
−$24.5K −$10.97/SF
NOI
$73.5K $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 Rate 5%
$1,469,060
Cap Rate 7%
$1,049,329
Cap Rate 9%
$816,144
Alternative Uses
Best Use
Office B
$1.05M
$918.2K – $1.22M
NOI $73,453 @ 7.0% cap · market cap 3.21%
Second Best
Healthcare Medical
$734.9K
$643.0K – $857.4K
NOI $51,442 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,130 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
8,249
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A private office and rear break area with built-in cabinetry complement the flexible central workspace.
Where is this medical office space located?
The property is located at 132-03 Sanford Avenue 1a Flushing, NY.
What is the asking price?
The asking price for this property is $2,290,000.
What are key features of this property?
This property features: 2,231 square feet of medical office space; Open central workspace with a separate private office; Rear break area includes built‑in cabinetry
