Community Facility Office
New
For Sale
$1,150,000
14229 37th Ave M1, Queens, NY 11354
Office condominium near subway and bus stops, with nearby parking lots and access to Main Street.
Property Size1,830 SF
Days on Market7
Property Features for 14229 37th Ave M1
General Information
Standard status
Active
Size
1,830 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$26,165
Building Details
Building Size
1,830 SF
Year Built
2004
Listing Agency:
Sany Realty Group LLC
(917) 607-7918
Listed By:
Zixin Song
(917) 607-7918
Source:
Elliman
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 31 at 2:56PM
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 Sany Realty Group LLC
Investment Insights
Based on property information with market context.
This community facility office condominium was built in 2004 and is positioned for institutional and other office-related uses identified in the property information. The offering is located in Flushing and provides a commercial setting near Main Street.
Subway and bus stops are nearby, while surrounding parking lots provide additional parking access. The property records a Walk Score of 95 and a Transit Score of 98, reflecting strong pedestrian and transit connectivity. Its Bike Score is 71, classified as Very Bikeable. The address is 14229 37th Ave M1, Queens, NY 11354.
Subway and bus stops are nearby, while surrounding parking lots provide additional parking access. The property records a Walk Score of 95 and a Transit Score of 98, reflecting strong pedestrian and transit connectivity. Its Bike Score is 71, classified as Very Bikeable. The address is 14229 37th Ave M1, Queens, NY 11354.
Key Highlights
- Community facility office condominium built in 2004
- Near Main Street, subway stations, and bus stops
- Nearby parking lots provide additional parking access
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
$60,251
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
5.24%
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%
$1,205,020
$1.2M
Cap Rate 7%
$860,729
$860.7K
Cap Rate 9%
$669,456
$669.5K
Market Conditions
NOI Build-Up for 1,830 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
$92.2K $50.40/SF
− Vacancy
−$11.9K −$6.50/SF
EGI
$80.3K $43.90/SF
− OpEx
−$20.1K −$10.97/SF
NOI
$60.3K $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%
$1,205,020
Cap Rate 7%
$860,729
Cap Rate 9%
$669,456
Alternative Uses
Best Use
Office B
$860.7K
$753.1K – $1.00M
NOI $60,251 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,437 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,412
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condominium near subway and bus stops, with nearby parking lots and access to Main Street.
Where is this office units located?
The property is located at 14229 37th Ave M1 Queens, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Community facility office condominium built in 2004; Near Main Street, subway stations, and bus stops; Nearby parking lots provide additional parking access
