132-59 41st Road Unit CB, Flushing, NY 11354

Building Details

Building Size 707 SF More

Listing Agency: All County Realty & Mgmt Corp

Listed By: Mei J. Juan Show Phone

Source: Barbieliteam

Added: Oct 29 Changed: Nov 8 Last Checked: Oct 30 at 7:07PM

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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 All County Realty & Mgmt Corp

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Investment Insights

Based on property information with market context.

This 706 SF medical office condominium in Flushing is configured with a reception and waiting area, private offices, and a restroom. The layout provides distinct spaces for greeting visitors and conducting office work.

Public transportation options nearby include the #7 subway, LIRR, and buses. Banks, stores, supermarkets, and restaurants are also in the surrounding area.

Key Highlights

• 706 SF medical office condominium
• Reception and waiting area, private offices, and restroom
• Near the #7 subway, LIRR, and bus service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,244

Cap Rate

6.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$464,880 $464.9K

Cap Rate 7%

$332,057 $332.1K

Cap Rate 9%

$258,267 $258.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 706 SF

Gross rent

$35.6K $50.40/SF

− Vacancy

−$4.6K −$6.50/SF

EGI

$31.0K $43.90/SF

− OpEx

−$7.7K −$10.97/SF

NOI

$23.2K $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%

$464,880

Cap Rate 7%

$332,057

Cap Rate 9%

$258,267

Alternative Uses

Best Use

Office B

$332.1K

$290.6K – $387.4K (±1% cap)

NOI $23,244 @ 7.0% cap · market cap 6.68%

Second Best

Healthcare Medical

$232.6K

$203.5K – $271.3K (±1% cap)

NOI $16,279 @ 7.0% cap · market cap 4.68%

Theoretical Best

Office A

$520.5K

$455.4K – $607.2K (±1% cap)

NOI $36,433 @ 7.0% cap · market cap 10.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Wallace Wang, MD- ... Medical Clinic

Suggested Use

Top Pick Real Estate Agency Law Firm Gym & Fitness Center Parking Lot & Garage Nursing Home Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Location Intelligence

Trade Area within ½ mile

5,722

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

Average Price Trend$/SF for Medical Office Space in Flushing, NY

$852 Jul

$820 Aug

$953 Sep

$878 Oct

Properties on Market for Medical Office Space in Flushing

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - The suite has a reception and waiting area, private offices, and a restroom.

Where is this medical office space located?

The property is located at 132-59 41st Road Unit CB Flushing, NY.

What is the asking price?

The asking price for this property is $348,000.

What are key features of this property?

This property features: 706 SF medical office condominium; Reception and waiting area, private offices, and restroom; Near the #7 subway, LIRR, and bus service