9-Unit Office
For Sale
$13,800,000
133-24 41st Road, Flushing, NY 11355
Commercial office asset comprising multiple individual units.
Property Size14,399 SF
Price / SF$958.40
Days on Market8
Property Features for 133-24 41st Road
General Information
Standard status
Active
Size
14,399 SF
Property subtype
Office
Additional Details
Office Units
9
Taxes and HOA fees
Annual Taxes
$37,510
Building Details
Building Size
14,399 SF
Listing Agency:
Winzone Realty Inc
(646) 633-2828
Listed By:
Vera Y. Wu
Source:
Cbwarburg
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 11:06AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This commercial office property contains 9 office units within a 14,399-square-foot asset. The property is located at 133-24 41st Road in Flushing, New York 11355.
Key Highlights
- 9 office units
- 14,399 square feet
- Located at 133‑24 41st Road, Flushing, NY 11355
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
$474,070
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
3.44%
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%
$9,481,400
$9.5M
Cap Rate 7%
$6,772,429
$6.8M
Cap Rate 9%
$5,267,444
$5.3M
Market Conditions
NOI Build-Up for 14,399 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
$725.7K $50.40/SF
− Vacancy
−$93.6K −$6.50/SF
EGI
$632.1K $43.90/SF
− OpEx
−$158.0K −$10.97/SF
NOI
$474.1K $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%
$9,481,400
Cap Rate 7%
$6,772,429
Cap Rate 9%
$5,267,444
Alternative Uses
Best Use
Office B
$6.77M
$5.93M – $7.90M
NOI $474,070 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.62M
$9.29M – $12.38M
NOI $743,058 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
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 - Commercial office asset comprising multiple individual units.
Where is this office units located?
The property is located at 133-24 41st Road Flushing, NY.
What is the asking price?
The asking price for this property is $13,800,000.
What are key features of this property?
This property features: 9 office units; 14,399 square feet; Located at 133‑24 41st Road, Flushing, NY 11355
