132-59 41ST Road Unit CD, Flushing, NY 11355

Building Details

Building Size 645 SF More

Year Built 2002 More

Listing Agency: E Realty International Corp

Listed By: Bingqing Yan · License #10401296896 Show Phone

Source: Barbieliteam

Added: Nov 2 Changed: Nov 6 Last Checked: Nov 8 at 12:29PM

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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 E Realty International Corp

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Investment Insights

Based on property information with market context.

This 645-square-foot medical office suite has three exam offices and a bathroom. The interior has been renovated, and the space is served by central heating and air conditioning. The building was constructed in 2002.

The property is in Downtown Flushing, at 132-59 41st Road, Unit CD. Water is included in the common charges.

Key Highlights

• 645 square feet
• Three exam offices and a bathroom
• Renovated interior with central heating and air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,236

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,720 $424.7K

Cap Rate 7%

$303,371 $303.4K

Cap Rate 9%

$235,956 $236.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 645 SF

Gross rent

$32.5K $50.40/SF

− Vacancy

−$4.2K −$6.50/SF

EGI

$28.3K $43.90/SF

− OpEx

−$7.1K −$10.97/SF

NOI

$21.2K $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%

$424,720

Cap Rate 7%

$303,371

Cap Rate 9%

$235,956

Alternative Uses

Best Use

Office B

$303.4K

$265.5K – $353.9K (±1% cap)

NOI $21,236 @ 7.0% cap · market cap 5.60%

Second Best

Healthcare Medical

$212.5K

$185.9K – $247.9K (±1% cap)

NOI $14,872 @ 7.0% cap · market cap 3.92%

Theoretical Best

Office A

$475.5K

$416.1K – $554.8K (±1% cap)

NOI $33,285 @ 7.0% cap · market cap 8.78%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Wallace Wang, MD- ... Medical Clinic

Suggested Use

Top Pick Nursing Home (Bike/Boat/Book/etc) Store Veterinary Clinic Barber Shop Garden Center Tanning Salon

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

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

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 includes three exam offices and central heating and air conditioning.

Where is this medical office space located?

The property is located at 132-59 41ST Road Unit CD Flushing, NY.

What is the asking price?

The asking price for this property is $379,000.

What are key features of this property?

This property features: 645 square feet; Three exam offices and a bathroom; Renovated interior with central heating and air conditioning