Professional Office
For Sale
$1,593,000
133-20 41st Road 5A, Flushing, NY 11355
Flexible commercial workspace near transit, retail, dining, banking, and municipal parking in an active Queens business district.
Property Size32,324 SF
Price / SF$1,174
Days on Market119
Property Features for 133-20 41st Road 5A
General Information
Standard status
Active
Size
32,324 SF
Additional Details
HOA Fee
$613.18
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,436
Amenities
Central Air
Electric, ENERGY STAR Qualified Equipment
Finished
Building Details
Building Size
32,324 SF
Listing Agency:
Apex Global Realty LLC
Listed By:
Yan Yu
(917) 860-6068
Source:
Evrealestate
Added: May 8
Changed: Sep 2
Last Checked: Sep 2 at 4:55PM
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 Apex Global Realty LLC
Investment Insights
Based on property information with market context.
This 1,356-square-foot professional office unit is located at 133-20 41st Road, Suite 5A, in Downtown Flushing’s commercial district. The space is positioned for office-based operations including medical, legal, accounting, consulting, education, technology, and general professional uses, as identified in the property information.
The location offers access to Main Street, public transportation, municipal parking, restaurants, banks, and major retail corridors. Manhattan, Long Island, and major highways are also identified as accessible from the property. WalkScore is 96, TransitScore is 100, and BikeScore is 64, reflecting strong pedestrian and transit connectivity. The unit is presented as suitable for either an owner-user or an investor.
The location offers access to Main Street, public transportation, municipal parking, restaurants, banks, and major retail corridors. Manhattan, Long Island, and major highways are also identified as accessible from the property. WalkScore is 96, TransitScore is 100, and BikeScore is 64, reflecting strong pedestrian and transit connectivity. The unit is presented as suitable for either an owner-user or an investor.
Key Highlights
- 1,356 SF professional office unit at 133‑20 41st Rd 5A
- Located in Downtown Flushing’s commercial district
- WalkScore 96, TransitScore 100, and BikeScore 64
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
$44,645
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
2.80%
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%
$892,900
$892.9K
Cap Rate 7%
$637,786
$637.8K
Cap Rate 9%
$496,056
$496.1K
Market Conditions
NOI Build-Up for 1,356 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
$68.3K $50.40/SF
− Vacancy
−$8.8K −$6.50/SF
EGI
$59.5K $43.90/SF
− OpEx
−$14.9K −$10.97/SF
NOI
$44.6K $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%
$892,900
Cap Rate 7%
$637,786
Cap Rate 9%
$496,056
Alternative Uses
Best Use
Office B
$637.8K
$558.1K – $744.1K
NOI $44,645 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.7K
$874.7K – $1.17M
NOI $69,976 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,506
Businesses Nearby
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?
Office units - Flexible commercial workspace near transit, retail, dining, banking, and municipal parking in an active Queens business district.
Where is this office units located?
The property is located at 133-20 41st Road 5A Flushing, NY.
What is the asking price?
The asking price for this property is $1,593,000.
What are key features of this property?
This property features: 1,356 SF professional office unit at 133‑20 41st Rd 5A; Located in Downtown Flushing’s commercial district; WalkScore 96, TransitScore 100, and BikeScore 64
