Mixed-Use Building with Medical
For Sale
$1,775,000
201-22 43rd Ave, Queens, NY 11361
Two occupied residential units plus a town-approved medical/dental office permit for a flexible mixed-use setup.
Property Size2,779 SF
Days on Market94
Property Features for 201-22 43rd Ave
General Information
Standard status
Active
Size
2,779 SF
Property subtype
Commercial
Units
Multifamily Units
2
Office Units
1
Taxes and HOA fees
Annual Taxes
$13,125
Building Details
Building Size
2,779 SF
Year Built
1970
Stories
3
Units
3
Listed By:
Gail G. Carillo
(631) 588-9090
Source:
Elliman
Added: Jul 5
Changed: Sep 23
Last Checked: Oct 5 at 6:52PM
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 Gail G. Carillo
Investment Insights
Based on property information with market context.
This mixed-use property includes two residential units, each configured with three bedrooms, one bathroom, a living room, dining room, and kitchen. Both units are currently occupied by long-term tenants. The ground floor includes a town-approved permit for a medical/dental office, providing a foundation for a future healthcare practice, though the space will require build-out to suit the intended operation.
Located in Queens, the building sits just off Francis Lewis Blvd, placing it along a visible retail corridor. WalkScore is listed at 76 (very walkable), BikeScore is listed at 55 (bikeable), and TransitScore is listed at 61 (good transit), supporting a tenant mix that benefits from everyday accessibility.
For investors, the existing residential occupancy provides rental income while the permitted ground-floor space allows room to tailor a healthcare concept. For end users, the property offers a way to establish a medical/dental practice on the ground floor while maintaining residential tenants above. The combination of residential units and a town-approved medical/dental office permit makes this building a practical fit for operators looking for a mixed-use footprint.
Located in Queens, the building sits just off Francis Lewis Blvd, placing it along a visible retail corridor. WalkScore is listed at 76 (very walkable), BikeScore is listed at 55 (bikeable), and TransitScore is listed at 61 (good transit), supporting a tenant mix that benefits from everyday accessibility.
For investors, the existing residential occupancy provides rental income while the permitted ground-floor space allows room to tailor a healthcare concept. For end users, the property offers a way to establish a medical/dental practice on the ground floor while maintaining residential tenants above. The combination of residential units and a town-approved medical/dental office permit makes this building a practical fit for operators looking for a mixed-use footprint.
Key Highlights
- Mixed‑use property built in 1970 with two occupied residential units
- Each unit offers 3 beds and 1 bath with living room, dining room, and kitchen
- Both residential units are occupied by long‑term tenants with below‑market rents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,495
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,829,900
$1.8M
Cap Rate 7%
$1,307,071
$1.3M
Cap Rate 9%
$1,016,611
$1.0M
Market Conditions
NOI Build-Up for 2,779 SF
Gross rent
$140.1K $50.40/SF
− Vacancy
−$18.1K −$6.50/SF
EGI
$122.0K $43.90/SF
− OpEx
−$30.5K −$10.97/SF
NOI
$91.5K $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%
$1,829,900
Cap Rate 7%
$1,307,071
Cap Rate 9%
$1,016,611
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.52M
NOI $91,495 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$970.4K
$849.1K – $1.13M
NOI $67,931 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,410 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,928
Businesses Nearby
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Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two occupied residential units plus a town-approved medical/dental office permit for a flexible mixed-use setup.
Where is this mixed-use property located?
The property is located at 201-22 43rd Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Mixed‑use property built in 1970 with two occupied residential units; Each unit offers 3 beds and 1 bath with living room, dining room, and kitchen; Both residential units are occupied by long‑term tenants with below‑market rents
