Building Details

Building Size 1,660 SF

Year Built 2018

Listing Agency: E Realty International Corp s***@hotmail.com Show Phone

Listed By: Hok L. Chow · License #10401297420 Show Phone

Source: Croninreale

Added: Mar 31 Changed: Oct 23 Last Checked: Oct 23 at 4:18PM

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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 E Realty International Corp

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Investment Insights

Based on property information with market context.

This 1,660-square-foot medical office suite was renovated and is configured for medical office use. The property was built in 2018 and carries R6 zoning.

Located at 14238 37th Avenue #2H in Flushing, Queens, the suite is positioned in the Flushing area.

Key Highlights

• 1,660 square feet of medical office space
• Renovated medical office suite
• Built in 2018

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,654

Cap Rate

3.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,093,080 $1.1M

Cap Rate 7%

$780,771 $780.8K

Cap Rate 9%

$607,267 $607.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,660 SF

Gross rent

$83.7K $50.40/SF

− Vacancy

−$10.8K −$6.50/SF

EGI

$72.9K $43.90/SF

− OpEx

−$18.2K −$10.97/SF

NOI

$54.7K $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%

$1,093,080

Cap Rate 7%

$780,771

Cap Rate 9%

$607,267

Alternative Uses

Best Use

Office B

$780.8K

$683.2K – $910.9K (±1% cap)

NOI $54,654 @ 7.0% cap · market cap 3.96%

Second Best

Healthcare Medical

$546.8K

$478.5K – $637.9K (±1% cap)

NOI $38,276 @ 7.0% cap · market cap 2.77%

Theoretical Best

Office A

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,664 @ 7.0% cap · market cap 6.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Dr. Sea H. ... Physician Best Care Medicine Medical Clinic

Suggested Use

Top Pick Nursing Home (Bike/Boat/Book/etc) Store Catering Service Veterinary Clinic Garden Center Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

10,581

Businesses Nearby

Under-served

Demand for This Use

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - The suite offers medical office space suited to clinical practice or group use.

Where is this medical office space located?

The property is located at 14238 37th Avenue #2H Flushing, NY.

What is the asking price?

The asking price for this property is $1,380,000.

What are key features of this property?

This property features: 1,660 square feet of medical office space; Renovated medical office suite; Built in 2018