Transit-Adjacent Office
New
For Sale
$1,159,000
133-38 41st Ave C8, Queens, NY 11355
Professional commercial space directly adjacent to mass transit in central Flushing.
Property Size1,200 SF
Price / SF$965.83
Days on Market2
Property Features for 133-38 41st Ave C8
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Additional Details
HOA Fee
$590.25
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$22,246
Building Details
Building Size
1,200 SF
Year Built
1955
Listing Agency:
Winzone Realty Inc
(718) 508-2899
Listed By:
Zhaoying Yang
(718) 508-2899
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 11:05AM
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 1,200-square-foot office unit is positioned in central Flushing at 133-38 41st Ave C8. The professional space is directly adjacent to mass transit and was built in 1955.
The property’s transit setting is reinforced by a 100 transit score, a 96 walk score, and a 64 bike score. The space is identified as suitable for medical clinics, beauty concepts, therapeutic wellness centers, and professional office services.
The property’s transit setting is reinforced by a 100 transit score, a 96 walk score, and a 64 bike score. The space is identified as suitable for medical clinics, beauty concepts, therapeutic wellness centers, and professional office services.
Key Highlights
- 1,200‑square‑foot professional office unit
- Directly adjacent to mass transit
- 100 transit score, 96 walk score, and 64 bike score
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
Current Use
Location Intelligence
Trade Area within ½ mile
5,972
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 - Professional commercial space directly adjacent to mass transit in central Flushing.
Where is this office units located?
The property is located at 133-38 41st Ave C8 Queens, 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; 100 transit score, 96 walk score, and 64 bike score
