Building Details

Building Size 7,101 SF

Year Built 2007

Listing Agency: E Realty International Corp Show Phone

Listed By: Noman Basit

Source: Hedgestonehomes

Added: Oct 21 Changed: Nov 2 Last Checked: Oct 31 at 3:44AM

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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 7,101-square-foot medical office property was built in 2007 and carries R3X zoning. The stated use possibilities include a medical clinic, rehabilitation center, educational facility, tutoring center, dance studio, creative studio, office, showroom, storage, or e-commerce operation; church use is also identified.

Supermarkets and the Main Street 7 train are within walking distance. The property's size and identified use possibilities support a range of commercial and community-oriented configurations.

Key Highlights

• 7,101‑square‑foot medical office property
• Built in 2007
• Zoned R3X

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$163,735

Cap Rate

9.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,274,700 $3.3M

Cap Rate 7%

$2,339,071 $2.3M

Cap Rate 9%

$1,819,278 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,101 SF

Gross rent

$298.2K $42.00/SF

− Vacancy

−$25.4K −$3.57/SF

EGI

$272.9K $38.43/SF

− OpEx

−$109.2K −$15.37/SF

NOI

$163.7K $23.06/SF

Area

Queens County, NY

Vacancy

8.50%

Lease Rate

$42.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,274,700

Cap Rate 7%

$2,339,071

Cap Rate 9%

$1,819,278

Alternative Uses

Best Use

Office B

$3.34M

$2.92M – $3.90M (±1% cap)

NOI $233,792 @ 7.0% cap · market cap 13.06%

Second Best

Healthcare Medical

$2.34M

$2.05M – $2.73M (±1% cap)

NOI $163,735 @ 7.0% cap · market cap 9.15%

Theoretical Best

Office A

$5.23M

$4.58M – $6.11M (±1% cap)

NOI $366,446 @ 7.0% cap · market cap 20.47%

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

HONEY 少儿舞蹈学校 High School

Suggested Use

Top Pick Nursing Home (Bike/Boat/Book/etc) Store Pet Grooming Service Catering Service Restaurant Tanning Salon

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

10,523

Businesses Nearby

Under-served

Demand for This Use

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

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 - Built in 2007, the property is zoned R3X and sits within walking distance of supermarkets and the Main Street 7 train.

Where is this medical office space located?

The property is located at 146-27 Beech Avenue C2 Flushing, NY.

What is the asking price?

The asking price for this property is $1,790,000.

What are key features of this property?

This property features: 7,101‑square‑foot medical office property; Built in 2007; Zoned R3X