Three-Unit Office
For Sale
$2,990,000
3964 52ND ST Unit CF, Flushing, NY 11377
Second-floor suites offer private ADA bathrooms, independent HVAC, and dedicated utility metering.
Property Size5,197 SF
Price / SF$575.33
Days on Market287
Property Features for 3964 52ND ST Unit CF
General Information
Standard status
Active
Size
5,197 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$15,482
Amenities
Central Air
3
Building Details
Year Built
2021
Listing Agency:
B Square Realty
(646) 889-9988
Listed By:
Li Li
(646) 889-9988
Source:
Xome
Added: Nov 16, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:28PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This 5,197 SF office package comprises three second-floor units in a mixed-use building completed in 2021. Unit 1A contains 1,700 SF, Unit 1B includes 1,175 SF, and Unit 1C provides 2,322 SF. Each space has a private ADA-compliant bathroom, separate utility meter, independent HVAC system, and sprinkler coverage. The configuration supports medical office, urgent care, educational, and professional-service operations, subject to applicable requirements.
Transit access is a defining feature, with the property located half a block from the 52nd Street #7 train station and served by the Q60, Q32, and Q104 bus routes. Connections to Midtown Manhattan are available via the Queensboro Bridge and Midtown Tunnel. The units may be acquired together or individually, and leasing options are also available.
Transit access is a defining feature, with the property located half a block from the 52nd Street #7 train station and served by the Q60, Q32, and Q104 bus routes. Connections to Midtown Manhattan are available via the Queensboro Bridge and Midtown Tunnel. The units may be acquired together or individually, and leasing options are also available.
Key Highlights
- Three second‑floor office units totaling 5,197 SF
- Unit sizes: 1,700 SF, 1,175 SF, and 2,322 SF
- Built in 2021 within a mixed‑use building
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
$171,105
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
5.72%
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%
$3,422,100
$3.4M
Cap Rate 7%
$2,444,357
$2.4M
Cap Rate 9%
$1,901,167
$1.9M
Market Conditions
NOI Build-Up for 5,197 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
$261.9K $50.40/SF
− Vacancy
−$33.8K −$6.50/SF
EGI
$228.1K $43.90/SF
− OpEx
−$57.0K −$10.97/SF
NOI
$171.1K $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%
$3,422,100
Cap Rate 7%
$2,444,357
Cap Rate 9%
$1,901,167
Alternative Uses
Best Use
Office B
$2.44M
$2.14M – $2.85M
NOI $171,105 @ 7.0% cap · market cap 5.72%
Second Best
Healthcare Medical
$1.71M
$1.50M – $2.00M
NOI $119,832 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,190 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,276
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor suites offer private ADA bathrooms, independent HVAC, and dedicated utility metering.
Where is this office units located?
The property is located at 3964 52ND ST Unit CF Flushing, NY.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: Three second‑floor office units totaling 5,197 SF; Unit sizes: 1,700 SF, 1,175 SF, and 2,322 SF; Built in 2021 within a mixed‑use building
