Turnkey Medical Office
For Sale
$1,150,000
2a-4142 College Point Blvd, Flushing, NY 11356
Fully built-out medical office condo with exam rooms, private doctor office, and a terrace in a Class A elevator building.
Property Size1,570 SF
Price / SF$732.48
Days on Market125
Property Features for 2a-4142 College Point Blvd
General Information
Standard status
Active
Size
1,570 SF
Class
A
Taxes and HOA fees
Annual Taxes
$15,047
Listing Agency:
All County Realty & Mgmt Corp
(917) 863-4342
Listed By:
Mei J. Juan
(917) 863-4342
Source:
Exprealty
Added: Apr 14
Changed: Aug 15
Last Checked: Aug 15 at 8:30AM
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 All County Realty & Mgmt Corp
Investment Insights
Based on property information with market context.
This turnkey medical office condo is designed for immediate professional use, offering approximately 1,570 square feet of built-out space within a Class A elevator building. The layout includes six fully built exam rooms, a private doctor’s office, and a large reception and waiting area that supports patient flow. Additional conveniences include an in-unit restroom and a private terrace, giving the space both clinical functionality and a dedicated outdoor option.
The property is located on College Point Blvd in downtown Flushing, with access to major transit options and surrounding commercial amenities. Public remarks indicate it is steps from Main Street, the 7 train, buses, and the LIRR, and that the area is supported by dense residential population and strong foot traffic.
For medical professionals and investors, the space is positioned as an owner-user option or an investment use case. The built-out medical configuration is intended to reduce or eliminate additional interior work, and the remarks note the possibility to lease individual rooms or the full unit. This makes the condo a practical fit for parties looking for an operationally ready medical office within a well-connected downtown setting.
The property is located on College Point Blvd in downtown Flushing, with access to major transit options and surrounding commercial amenities. Public remarks indicate it is steps from Main Street, the 7 train, buses, and the LIRR, and that the area is supported by dense residential population and strong foot traffic.
For medical professionals and investors, the space is positioned as an owner-user option or an investment use case. The built-out medical configuration is intended to reduce or eliminate additional interior work, and the remarks note the possibility to lease individual rooms or the full unit. This makes the condo a practical fit for parties looking for an operationally ready medical office within a well-connected downtown setting.
Key Highlights
- Approx. 1,570 SF fully built‑out medical office condo in Flushing at 41‑42 College Point Blvd #2A
- Includes 6 fully built exam rooms plus a private doctor’s office
- Large reception and waiting area with an in‑unit restroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,690
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,033,800
$1.0M
Cap Rate 7%
$738,429
$738.4K
Cap Rate 9%
$574,333
$574.3K
Market Conditions
NOI Build-Up for 1,570 SF
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.
Gross rent
$79.1K $50.40/SF
− Vacancy
−$10.2K −$6.50/SF
EGI
$68.9K $43.90/SF
− OpEx
−$17.2K −$10.97/SF
NOI
$51.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,033,800
Cap Rate 7%
$738,429
Cap Rate 9%
$574,333
Alternative Uses
Best Use
Office B
$738.4K
$646.1K – $861.5K
NOI $51,690 @ 7.0% cap · market cap 4.49%
Second Best
Healthcare Medical
$517.2K
$452.5K – $603.4K
NOI $36,201 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,020 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Petco Vaccination Clinic — 13311 20th Ave, College Point, NY 11356
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully built-out medical office condo with exam rooms, private doctor office, and a terrace in a Class A elevator building.
Where is this medical office space located?
The property is located at 2a-4142 College Point Blvd Flushing, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approx. 1,570 SF fully built‑out medical office condo in Flushing at 41‑42 College Point Blvd #2A; Includes 6 fully built exam rooms plus a private doctor’s office; Large reception and waiting area with an in‑unit restroom
