Medical Office Condo with
New
For Sale
$580,000
14923 Sanford Avenue Unit C1, Flushing, NY 11355
The unit offers a two-room layout, kitchen, reception area, and enclosed garage.
Property Size944 SF
Days on Market5
Property Features for 14923 Sanford Avenue Unit C1
General Information
Standard status
Active
Size
944 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Office Units
1
Property Use
Medical Office
Building Details
Building Size
944 SF
Year Built
2004
Listing Agency:
Fultonex Realty LLC
Listed By:
Eunice Chen CBR
Source:
Barbieliteam
Added: Oct 29
Changed: Nov 1
Last Checked: Nov 1 at 12:46PM
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 Fultonex Realty LLC
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Investment Insights
Based on property information with market context.
This medical office condominium was built in 2004 and contains two rooms, a living or reception area, a kitchen, one full bathroom, and one half bathroom with ADA accessibility. An enclosed garage is attached, with a driveway; two additional parking spaces are also available for separate purchase. The unit is suited to medical office or community facility use. A residential caretaker or parsonage use may be permitted in connection with a religious organization, subject to applicable conditions.
The property is two blocks from Murray Hill LIRR station and near Q13, Q65, Q12, Q15, Q28, N20, and N21 bus service. Downtown Flushing is a 15-minute walk away.
The property is two blocks from Murray Hill LIRR station and near Q13, Q65, Q12, Q15, Q28, N20, and N21 bus service. Downtown Flushing is a 15-minute walk away.
Key Highlights
- Medical office or community facility use
- Two rooms, living or reception area, and kitchen
- One full bathroom and one ADA‑accessible half bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,080
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$621,600
$621.6K
Cap Rate 7%
$444,000
$444.0K
Cap Rate 9%
$345,333
$345.3K
Market Conditions
NOI Build-Up for 944 SF
Gross rent
$47.6K $50.40/SF
− Vacancy
−$6.1K −$6.50/SF
EGI
$41.4K $43.90/SF
− OpEx
−$10.4K −$10.97/SF
NOI
$31.1K $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%
$621,600
Cap Rate 7%
$444,000
Cap Rate 9%
$345,333
Alternative Uses
Best Use
Office B
$444.0K
$388.5K – $518.0K
NOI $31,080 @ 7.0% cap · market cap 5.36%
Second Best
Healthcare Medical
$311.0K
$272.1K – $362.8K
NOI $21,767 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$695.9K
$608.9K – $811.9K
NOI $48,715 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
4,128
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The unit offers a two-room layout, kitchen, reception area, and enclosed garage.
Where is this medical office space located?
The property is located at 14923 Sanford Avenue Unit C1 Flushing, NY.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Medical office or community facility use; Two rooms, living or reception area, and kitchen; One full bathroom and one ADA‑accessible half bathroom
