Professional Office Unit Near
New
For Sale
$1,159,000
133-38 41st Avenue, Flushing, NY 11355
SINGLE_FAMILY - Flushing, NY
Property Size1,200 SF
Lot Size0.11 Acres
Price / SF$965.83
Days on Market4
Property Features for 133-38 41st Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
R6
Elementary school district
Contact Agent
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
APN
05041-0016
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
22246
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1955
Building materials
Brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Zhaoying Yang
(718) 508-2899
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 9 at 8:06AM
MLS# 1035782
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 1,200-square-foot professional office unit is positioned in central Flushing and directly adjacent to mass transit. The property was built in 1955 with brick construction and has wall or window unit cooling. Its layout and positioning support professional office services, medical clinic use, beauty concepts, and therapeutic wellness operations as described for the property.
The parcel contains 0.1148 acres and carries R6 zoning. The combination of office-oriented space, transit adjacency, and central Flushing placement provides a practical setting for the stated professional and service uses. The property is located at 133-38 41st Avenue in Flushing, New York 11355.
The parcel contains 0.1148 acres and carries R6 zoning. The combination of office-oriented space, transit adjacency, and central Flushing placement provides a practical setting for the stated professional and service uses. The property is located at 133-38 41st Avenue in Flushing, New York 11355.
Key Highlights
- 1,200‑square‑foot professional office unit
- Directly adjacent to mass transit in central Flushing
- R6 zoning on a 0.1148‑acre parcel
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
$39,509
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
3.41%
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%
$790,180
$790.2K
Cap Rate 7%
$564,414
$564.4K
Cap Rate 9%
$438,989
$439.0K
Market Conditions
NOI Build-Up for 1,200 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
$60.5K $50.40/SF
− Vacancy
−$7.8K −$6.50/SF
EGI
$52.7K $43.90/SF
− OpEx
−$13.2K −$10.97/SF
NOI
$39.5K $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%
$790,180
Cap Rate 7%
$564,414
Cap Rate 9%
$438,989
Alternative Uses
Best Use
Office B
$564.4K
$493.9K – $658.5K
NOI $39,509 @ 7.0% cap · market cap 3.41%
Second Best
Healthcare Medical
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$884.7K
$774.1K – $1.03M
NOI $61,926 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,547
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 - Central Flushing office space offers transit adjacency, R6 zoning, and flexible professional-use potential.
Where is this office units located?
The property is located at 133-38 41st Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,159,000.
What are key features of this property?
This property features: 1,200‑square‑foot professional office unit; Directly adjacent to mass transit in central Flushing; R6 zoning on a 0.1148‑acre parcel
