Medical Office Building with
For Sale
$8,800,000
26-19 Francis Lewis Boulevard, Flushing, NY 11358
Renovated medical facility with private parking, examination rooms, consultation offices, and multiple reception areas.
Property Size10,530 SF
Lot Size0.25 Acres
Price / SF$835.71
Days on Market134
Property Features for 26-19 Francis Lewis Boulevard
General Information
Standard status
Active
Size
10,530 SF
Total Parking Spaces
17
Elevators
Yes
Lot size
0.25 Acres
Property subtype
Office
Zoning
C1-3 / R4 & R2A
Additional Details
Asking Price
$9,000,000
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$73,922
Building Details
Building Size
10,530 SF
Year Built
2008
Year Renovated
2008
Buildings
1
Stories
3
Listing Agency:
Keller Williams Rlty Landmark
Listed By:
Champion Wu
(718) 358-4000
Source:
Cottiemaxwellrealestate
Added: Jun 2
Changed: Oct 7
Last Checked: Oct 13 at 3:23AM
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 Keller Williams Rlty Landmark
Investment Insights
Based on property information with market context.
This medical office property at 26-19 Francis Lewis Boulevard in Flushing, NY, contains 10,530 SF across a building positioned on two lots totaling 10,985 SF. The facility includes 27 examination rooms, 10 consultation offices, three reception and waiting areas, an elevator, and approximately 400 SF of third-floor landlord storage. Medical and office areas extend through the first floor, second floor, and basement, with the property described as suitable for medical or hospital operations.
The building provides private parking for 17 cars and is zoned C1-3 / R4 & R2A. Heating and cooling are provided by geothermal systems. The property was built and completely renovated from the basement through the third floor in 2008 and can be delivered vacant.
The building provides private parking for 17 cars and is zoned C1-3 / R4 & R2A. Heating and cooling are provided by geothermal systems. The property was built and completely renovated from the basement through the third floor in 2008 and can be delivered vacant.
Key Highlights
- 10,530 SF medical office building on two lots totaling 10,985 SF
- 27 examination rooms and 10 consultation offices
- Three reception and waiting areas plus elevator service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$346,688
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,933,760
$6.9M
Cap Rate 7%
$4,952,686
$5.0M
Cap Rate 9%
$3,852,089
$3.9M
Market Conditions
NOI Build-Up for 10,530 SF
Gross rent
$530.7K $50.40/SF
− Vacancy
−$68.5K −$6.50/SF
EGI
$462.3K $43.90/SF
− OpEx
−$115.6K −$10.97/SF
NOI
$346.7K $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%
$6,933,760
Cap Rate 7%
$4,952,686
Cap Rate 9%
$3,852,089
Alternative Uses
Best Use
Office B
$4.95M
$4.33M – $5.78M
NOI $346,688 @ 7.0% cap · market cap 3.94%
Second Best
Healthcare Medical
$3.47M
$3.04M – $4.05M
NOI $242,801 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$7.76M
$6.79M – $9.06M
NOI $543,399 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,528
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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?
Medical Office Space - Renovated medical facility with private parking, examination rooms, consultation offices, and multiple reception areas.
Where is this medical office space located?
The property is located at 26-19 Francis Lewis Boulevard Flushing, NY.
What is the asking price?
The asking price for this property is $8,800,000.
What are key features of this property?
This property features: 10,530 SF medical office building on two lots totaling 10,985 SF; 27 examination rooms and 10 consultation offices; Three reception and waiting areas plus elevator service
