Two-Story Professional Office
21340 38th Ave Bayside, NY 11361
For Sale
Contact for pricing
Vacant two-story office building in Bayside, NY, with a layout suited to professional services and redevelopment potential.
Property Size4,516 SF
Price / SF$498.23
Days on Market16
Property Features for 21340 38th Ave
General Information
Standard status
Active
Size
4,516 SF
Property subtype
OFFICE
Listing Agency:
RIPCO Real Estate - Queens
(516) 647-7155
Listed By:
Stephen R. Preuss · License #10401284640
(516) 647-7155
Source:
Moodyscre
Added: Jul 14
Changed: Jul 28
Last Checked: Jul 28 at 8:26PM
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 RIPCO Real Estate - Queens
Investment Insights
Based on property information with market context.
This two-story professional office building is being delivered vacant and includes 4,516 square feet. The existing configuration is described as an ideal layout for a range of professional users.
The property is located at 21340 38th Ave in Bayside, NY. It is within a short walk of Bell Boulevard and bus service (Q13 and Q31), with Bayside LIRR about a 10-minute walk away. Major regional access via Cross Island Parkway and Clearview Expressway is described as within minutes.
The offering also highlights redevelopment potential. Zoning is noted as allowing up to 10,000 buildable square feet within a split zoning district (R6B/C2-2 and R4). Bayside’s retail and dining options are described as nearby, supporting a service-oriented location in a suburban Queens setting.
The property is located at 21340 38th Ave in Bayside, NY. It is within a short walk of Bell Boulevard and bus service (Q13 and Q31), with Bayside LIRR about a 10-minute walk away. Major regional access via Cross Island Parkway and Clearview Expressway is described as within minutes.
The offering also highlights redevelopment potential. Zoning is noted as allowing up to 10,000 buildable square feet within a split zoning district (R6B/C2-2 and R4). Bayside’s retail and dining options are described as nearby, supporting a service-oriented location in a suburban Queens setting.
Key Highlights
- Vacant two‑story professional office building with 4,516 SF and an office layout suited to professional services.
- Zoning allows up to 10,000 buildable SF in a split zoning district (R6B/C2‑2 and R4).
- Less than 1 minute walk to Bell Boulevard.
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 | $227.6k | $50.40 |
| − Vacancy | −$29.4k | −$6.50 |
| EGI | $198.2k | $43.90 |
| − OpEx | −$49.6k | −$10.97 |
| NOI | $148.7k | $32.92 |
4,516 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,684 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.33M
$2.91M – $3.88M
NOI $233,047 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Vacant two-story office building in Bayside, NY, with a layout suited to professional services and redevelopment potential.
Where is this office building located?
The property is located at 21340 38th Ave Bayside, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Vacant two‑story professional office building with 4,516 SF and an office layout suited to professional services.; Zoning allows up to 10,000 buildable SF in a split zoning district (R6B/C2‑2 and R4).; Less than 1 minute walk to Bell Boulevard.
