Second-Floor Medical Office
For Sale
$2,000,000
132-35 41st Road, Flushing, NY 11355
Commercial Sale, Flushing, NY
Property Size1,900 SF
Price / SF$1,052
Days on Market361
Property Features for 132-35 41st Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Standard status
Active
APN
05039-1910
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2889
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2008
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Calvin Cheung · License #10401300693
(718) 213-3320
Added: Aug 27, 2025
Changed: Aug 20
Last Checked: Aug 22 at 7:06PM
MLS# 906159
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This second-floor medical office space is part of a 2C-Community Facility property in a 2008 building. The approximately 1,900-square-foot space is identified for nonprofit-oriented uses, including senior centers and after-school programs, as well as rehab clinics and medical offices.
The property is located at 132-35 41st Road in Flushing, NY 11355, with access to public transportation. Building systems include forced-air heating and central air conditioning. Public water and public sewer serve the property.
The property is located at 132-35 41st Road in Flushing, NY 11355, with access to public transportation. Building systems include forced-air heating and central air conditioning. Public water and public sewer serve the property.
Key Highlights
- Approximately 1,900 square feet of second‑floor community facility space
- 2C‑Community Facility designation
- Built in 2008
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 with forced-air heating, central air, and public water and sewer.
Where is this medical office space located?
The property is located at 132-35 41st Road 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: Approximately 1,900 square feet of second‑floor community facility space; 2C‑Community Facility designation; Built in 2008
