Medical Center For
For Sale
$1,897,000
4010 Forley Street, Elmhurst, NY 11373
Healthcare property for sale at 4010 Forley Street in Elmhurst, Queens.
Property Size3,060 SF
Days on Market52
Property Features for 4010 Forley Street
General Information
Standard status
Active
Size
3,060 SF
Total Parking Spaces
2
Net Operating Income
$97,128
Taxes and HOA fees
Annual Taxes
$38,172
Amenities
Central Air
Natural Gas
Off Street
Building Details
Building Size
3,060 SF
Year Built
1955
Buildings
1
Listing Agency:
NY Superior Realty
Listed By:
Nora E. Avalos
(718) 205-7770
Source:
Evrealestate
Added: Jul 14
Changed: Sep 3
Last Checked: Sep 2 at 2:58PM
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 NY Superior Realty
Investment Insights
Based on property information with market context.
This healthcare property is offered for sale as a medical center serving medical use. The address is 4010 Forley Street in Elmhurst, New York, within Queens County.
Directions are given from Britton Avenue to Forley Street. The property is being marketed as a medical/healthcare real estate asset under the current for-sale transaction.
For additional details on configuration, condition, and any improvements, please contact the listing broker.
Directions are given from Britton Avenue to Forley Street. The property is being marketed as a medical/healthcare real estate asset under the current for-sale transaction.
For additional details on configuration, condition, and any improvements, please contact the listing broker.
Key Highlights
- Healthcare property for sale at 4010 Forley Street in Elmhurst, Queens
- Year built: 1955
- Central Air cooling
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
$70,557
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
3.72%
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%
$1,411,140
$1.4M
Cap Rate 7%
$1,007,957
$1.0M
Cap Rate 9%
$783,967
$784.0K
Market Conditions
NOI Build-Up for 3,060 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
$128.5K $42.00/SF
− Vacancy
−$10.9K −$3.57/SF
EGI
$117.6K $38.43/SF
− OpEx
−$47.0K −$15.37/SF
NOI
$70.6K $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 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%
$1,411,140
Cap Rate 7%
$1,007,957
Cap Rate 9%
$783,967
Alternative Uses
Best Use
Healthcare Medical
$1.01M
$882.0K – $1.18M
NOI $70,557 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,911 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Healthcare property for sale at 4010 Forley Street in Elmhurst, Queens.
Where is this medical center located?
The property is located at 4010 Forley Street Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,897,000.
What are key features of this property?
This property features: Healthcare property for sale at 4010 Forley Street in Elmhurst, Queens; Year built: 1955; Central Air cooling
