Medical Office with Exam
For Sale
$389,000
35-24 78th Street #B-14, Jackson Heights, NY 11372
The first-floor suite has three exam rooms, a consultation room, laboratory, reception area, bathroom and kitchen.
Property Size1,200 SF
Price / SF$324.17
Days on Market180
Property Features for 35-24 78th Street #B-14
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Property Condition
Severity
Major Repairs Needed
Evidence
The office needs a total renovation
Space & Availability
Floor
first floor
Condition
Needs Renovation
Additional Details
HOA Fee
$1,172
Property Use
Medical Office
Building Details
Building Size
1,200 SF
Listing Agency:
Benjamin Realty Since 1980
(718) 263-1600
Listed By:
Oren Rikin SRS ABR
(917) 435-7989
Source:
Clairedleone
Added: Apr 28
Changed: Oct 23
Last Checked: Oct 23 at 5:41PM
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 Benjamin Realty Since 1980
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Investment Insights
Based on property information with market context.
Located on the first floor of the Berkeley Co-op at 35-24 78th Street in Jackson Heights, this 1,200-square-foot medical office is configured with a reception and waiting area, three exam rooms, a consultation room, a laboratory, one bathroom and a kitchen. The space requires a full renovation, offering the next owner an opportunity to rework its existing layout.
Key Highlights
- 1,200‑square‑foot medical office on the first floor of the Berkeley Co‑op
- Three exam rooms, consultation room and laboratory
- Reception and waiting area, bathroom and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,670
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,400
$553.4K
Cap Rate 7%
$395,286
$395.3K
Cap Rate 9%
$307,444
$307.4K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$50.4K $42.00/SF
− Vacancy
−$4.3K −$3.57/SF
EGI
$46.1K $38.43/SF
− OpEx
−$18.4K −$15.37/SF
NOI
$27.7K $23.06/SF
Area
Queens County, NY
Vacancy
8.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,400
Cap Rate 7%
$395,286
Cap Rate 9%
$307,444
Alternative Uses
Best Use
Office B
$564.4K
$493.9K – $658.5K
NOI $39,509 @ 7.0% cap · market cap 10.16%
Second Best
Healthcare Medical
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$884.7K
$774.1K – $1.03M
NOI $61,926 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,057
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Lawrence Animal Hospital — 7610 34th Ave # 6D, Jackson Heights, NY 11372
- AmbuVet Pet Ambulance — 81st St, Queens, NY 11372
- Petco Vaccination Clinic — 7507 31st Ave, East Elmhurst, NY 11370
- Faber dog grooming — 21-47 78th St, Queens, NY 11370
Frequently Asked Questions
What type of property is this?
Medical Office Space - The first-floor suite has three exam rooms, a consultation room, laboratory, reception area, bathroom and kitchen.
Where is this medical office space located?
The property is located at 35-24 78th Street #B-14 Jackson Heights, NY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 1,200‑square‑foot medical office on the first floor of the Berkeley Co‑op; Three exam rooms, consultation room and laboratory; Reception and waiting area, bathroom and kitchen
