Second-Floor Medical Office
For Sale
$2,000,000
132-35 41st Road #CF-2C, Flushing, NY 11355
Community facility space supports healthcare and nonprofit programming with public transportation access.
Property Size1,803 SF
Price / SF$1,052
Days on Market369
Property Features for 132-35 41st Road #CF-2C
General Information
Standard status
Active
Size
1,803 SF
Property subtype
Commercial
Zoning
2C-Community Facility
Additional Details
Floor
2
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,888
Building Details
Building Size
1,803 SF
Year Built
2008
Stories
14
Listing Agency:
E Realty International Corp
(718) 213-3320
Listed By:
Calvin Cheung · License #10401300693
(718) 213-3320
Source:
Cornerstonemyhome
Added: Aug 27, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
Located on the second floor, this community facility space is identified as unit CF-2C and measures around 1900 sqft. The layout is positioned for medical office, rehabilitation clinic, senior center, or after-school program use, with nonprofit applications also identified. The property was built in 2008.
The space is at 132-35 41st Road #CF-2C, Flushing, NY 11355. Public transportation access and visibility are noted as site characteristics, supporting convenient access for visitors, staff, and program participants.
The space is at 132-35 41st Road #CF-2C, Flushing, NY 11355. Public transportation access and visibility are noted as site characteristics, supporting convenient access for visitors, staff, and program participants.
Key Highlights
- Around 1900 sqft of second‑floor community facility space
- Identified as unit CF‑2C at 132‑35 41st Road
- Medical office and rehabilitation clinic use identified
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
$62,555
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
3.13%
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%
$1,251,100
$1.3M
Cap Rate 7%
$893,643
$893.6K
Cap Rate 9%
$695,056
$695.1K
Market Conditions
NOI Build-Up for 1,900 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
$95.8K $50.40/SF
− Vacancy
−$12.4K −$6.50/SF
EGI
$83.4K $43.90/SF
− OpEx
−$20.9K −$10.97/SF
NOI
$62.6K $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%
$1,251,100
Cap Rate 7%
$893,643
Cap Rate 9%
$695,056
Alternative Uses
Best Use
Office B
$893.6K
$781.9K – $1.04M
NOI $62,555 @ 7.0% cap · market cap 3.13%
Second Best
Healthcare Medical
$625.9K
$547.6K – $730.2K
NOI $43,810 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,049 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,722
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
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 - Community facility space supports healthcare and nonprofit programming with public transportation access.
Where is this medical office space located?
The property is located at 132-35 41st Road #CF-2C Flushing, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Around 1900 sqft of second‑floor community facility space; Identified as unit CF‑2C at 132‑35 41st Road; Medical office and rehabilitation clinic use identified
