Built-Out Medical Office Condo with Surgery
For Sale
$999,000
1a-9712 63rd Dr, Rego Park, NY 11374
First-floor medical office condominium with a dedicated condo parking space and a separate procedure suite for clinical use.
Property Size2,700 SF
Price / SF$370
Days on Market179
Property Features for 1a-9712 63rd Dr
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
1
Additional Details
Floor
First Floor
Public Transit
Yes
Office Units
4
Building Details
Tenancy
Single
Listing Agency:
Davidoff Luxury Homes LLC
(516) 607-3858
Listed By:
Alla Davidoff
(516) 607-3858
Source:
Exprealty
Added: Feb 3
Changed: Jul 31
Last Checked: Jul 31 at 2:44AM
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 Davidoff Luxury Homes LLC
Investment Insights
Based on property information with market context.
Fully built-out medical office condominium located on the first floor of the Queens Regency Condominium. The offering totals approximately 2,700 SF across four combined condo units, including 1,890 SF of office space and an 825 SF medical procedure suite that is configured as a separate condo unit.
The office portion includes seven private offices, reception, waiting area, administrative offices, consultation rooms, and two guest bathrooms. The procedure suite features a hospital-grade surgery room, recovery room, supporting office areas, and a private bathroom. The space is currently operating as a gastroenterology clinic and is presented as fully built and ready for immediate occupancy.
The building is positioned just half a block from Queens Boulevard with immediate access to subway and bus lines, including the M & R subway lines and multiple MTA bus routes. A dedicated condo parking space is included, supporting convenient access for patients and staff.
The office portion includes seven private offices, reception, waiting area, administrative offices, consultation rooms, and two guest bathrooms. The procedure suite features a hospital-grade surgery room, recovery room, supporting office areas, and a private bathroom. The space is currently operating as a gastroenterology clinic and is presented as fully built and ready for immediate occupancy.
The building is positioned just half a block from Queens Boulevard with immediate access to subway and bus lines, including the M & R subway lines and multiple MTA bus routes. A dedicated condo parking space is included, supporting convenient access for patients and staff.
Key Highlights
- Approximately 2,700 SF across four combined condo units within the Queens Regency Condominium
- First‑floor medical office condo plus a separate 825 SF procedure suite condo
- 1,890 SF office layout with seven private offices, reception, waiting area, and consultation rooms
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.1k | $50.40 |
| − Vacancy | −$17.6k | −$6.50 |
| EGI | $118.5k | $43.90 |
| − OpEx | −$29.6k | −$10.97 |
| NOI | $88.9k | $32.92 |
2,700 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,894 @ 7.0% cap · market cap 8.90%
Second Best
Healthcare Medical
$889.4K
$778.2K – $1.04M
NOI $62,257 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,333 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor medical office condominium with a dedicated condo parking space and a separate procedure suite for clinical use.
Where is this medical office space located?
The property is located at 1a-9712 63rd Dr Rego Park, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Approximately 2,700 SF across four combined condo units within the Queens Regency Condominium; First‑floor medical office condo plus a separate 825 SF procedure suite condo; 1,890 SF office layout with seven private offices, reception, waiting area, and consultation rooms
