Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    196-20 Hillside Ave New York, NY 11423

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available for rent, ready for immediate occupancy.

    Property Features for 196-20 Hillside Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Adan Islam
    Source: Crexi

    Listing Agency: EXIT Realty Prime Listing Agent: Adan Islam

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Space Ready For Rent

    This commercial real estate offers office units and spaces available for rent. The property is ready to use for any kind of office.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.7488167
    Latitude
    40.77209

    Nearby Similar for Lease

    • $700 /Mo

      Upper West Side Office Space

      First-floor office space near Central Park on Upper West Side.
      23 W 73Rd St, Manhattan, NY 10023
      View Details
    • New
      $4,800 /Mo

      Flushing Mixed-Use Building For Rent

      Prime mixed-use building in Flushing, near transportation and amenities.
      135-20 41St Ave, Flushing, NY 11354
      View Details
    • $45 SF/Yr
      16,662 SF

      Jamaica Commercial Space For Rent

      Strategically located commercial spaces available near hospitals and transportation.
      8015 164Th St, Jamaica, NY 11432
      View Details
    • $5,500 /Mo
      1,925 SF

      Flushing Medical Office Space

      Prime location medical office space for rent in Flushing.
      142-01 37Th Ave, Flushing, NY 11354
      View Details
    • New
      $52 SF/Yr

      Flushing Community Facility Office Space

      Brand-new community facility office space for lease in Flushing, NY.
      147-12 Roosevelt Ave, Flushing, NY 11354
      View Details
    • $12,000 /Mo
      2,200 SF

      Harlem Restaurant Space for Lease

      Vacant restaurant space in Harlem's vibrant 125th Street corridor.
      124st 124Th St, New York, NY 10027
      View Details
    • $46,900
      26,062 SF

      Flushing Commercial Space on Northern

      Corner unit suitable for banquet hall, wedding venue, or restaurant.
      167-17 Northern Boulevard, Flushing, NY 11358
      View Details
    • New
      $3,000 /Mo

      Manhattan Office Suite with Utilities

      Bright, private office suite with utilities included in Manhattan.
      115 New York Plz, Manhattan, NY 10001
      View Details
    • New
      $3,000 /Mo

      Manhattan Office Suite For Rent

      Bright, private office suite with utilities included and flexible terms.
      115 New York Plz, Manhattan, NY 10001
      View Details
    • $5,000 /Mo

      Renovated Commercial Condo in Flushing

      3,327 SF commercial condo ideal for various uses.
      32-16 137Th St, Flushing, NY 11354
      View Details
    • $12,000 /Mo

      Turnkey Office Condo in Flushing

      1,630 SF professional office condo for lease in Flushing.
      38-25 Main St, Flushing, NY 11354
      View Details
    • New
      $2,850 /Mo

      Bright Third-Floor Office Space

      Sun-filled, move-in ready office space in New York.
      164 West 128Th St, New York, NY 10027
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for rent, ready for immediate occupancy.
    Where is this office units located?
    The property is located at 196-20 Hillside Ave New York, NY.
    What are key features of this property?
    This property features: - Ready to use office space.; - Suitable for any kind of office.
    Request Owner's contact information
    196-20 Hillside Ave New York, NY 11423
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    196-20 Hillside Ave
    New York, NY 11423
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    196-20 Hillside Ave New York, NY 11423
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Adan Islam
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!