Renovated Office
135-31 Kew Gardens Road, Kew Garden Hills, NY 11418
For Sale
$2,499,000
The property is occupied by professional tenants and may also be delivered vacant.
Property Size3,000 SF
Price / SF$833
Days on Market195
Property Features for 135-31 Kew Gardens Road
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Occupancy
Additional Details
Condition
Public Transit
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
Real Estate Concept Group Inc
Listed By:
Nison Izgelov · License #10311205054
(786) 246-1709
Source:
Adamstreetrealty
Added: Apr 28
Changed: Nov 7
Last Checked: Nov 7 at 1:15PM
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 Real Estate Concept Group Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,000-square-foot office building dates to 1920 and received a substantial renovation in 2018. Improvements included plumbing, electrical wiring, flooring, doors, windows, and the roof. Professional tenants currently occupy the property, with vacant delivery also available. Showings are by appointment, and tenants should not be disturbed.
At 135-31 Kew Gardens Road, the property is near subway and LIRR service, Queens Boulevard, Hillside Avenue, and Jamaica Avenue. Nearby courts include Criminal Court, Family Court, Supreme Court, and Landlord-Tenant Court.
At 135-31 Kew Gardens Road, the property is near subway and LIRR service, Queens Boulevard, Hillside Avenue, and Jamaica Avenue. Nearby courts include Criminal Court, Family Court, Supreme Court, and Landlord-Tenant Court.
Key Highlights
- 3,000‑square‑foot office building
- 2018 renovation included plumbing, electrical wiring, flooring, doors, windows, and roof
- Fully occupied by professional tenants; vacant delivery is also available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,771
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,975,420
$2.0M
Cap Rate 7%
$1,411,014
$1.4M
Cap Rate 9%
$1,097,456
$1.1M
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$151.2K $50.40/SF
− Vacancy
−$19.5K −$6.50/SF
EGI
$131.7K $43.90/SF
− OpEx
−$32.9K −$10.97/SF
NOI
$98.8K $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%
$1,975,420
Cap Rate 7%
$1,411,014
Cap Rate 9%
$1,097,456
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.65M
NOI $98,771 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
Market
Properties on Market for Office buildings in Queens County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - The property is occupied by professional tenants and may also be delivered vacant.
Where is this office building located?
The property is located at 135-31 Kew Gardens Road Kew Garden Hills, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 3,000‑square‑foot office building; 2018 renovation included plumbing, electrical wiring, flooring, doors, windows, and roof; Fully occupied by professional tenants; vacant delivery is also available
