Mixed-Use Building with Medical
For Sale
$1,499,000
4014 Greenpoint Avenue, Sunnyside, NY 11104
Medical equipment conveys with the office, alongside a three-bedroom apartment on the second floor.
Property Size1,360 SF
Days on Market73
Property Features for 4014 Greenpoint Avenue
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$9,297
Building Details
Building Size
1,360 SF
Year Built
1940
Buildings
1
Units
2
Listing Agency:
United Prestige
(718) 713-8700
Listed By:
Mohammad S. Islam
Source:
Alexandermadisonhomes
Added: Jun 18
Changed: Aug 28
Last Checked: Aug 25 at 9:08AM
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 United Prestige
Investment Insights
Based on property information with market context.
This mixed-use building, constructed in 1940, combines an operating medical office with a residential component. The office includes multiple exam rooms, a private office, and medical equipment that conveys with the sale.
A separate three-bedroom apartment occupies the second floor. The property is located at 4014 Greenpoint Avenue in Sunnyside, NY 11104, providing a combination of professional and residential space within one building.
A separate three-bedroom apartment occupies the second floor. The property is located at 4014 Greenpoint Avenue in Sunnyside, NY 11104, providing a combination of professional and residential space within one building.
Key Highlights
- Existing medical office with multiple exam rooms and an office
- Medical equipment included with the sale
- Separate three‑bedroom apartment on the second floor
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
$44,776
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
2.99%
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%
$895,520
$895.5K
Cap Rate 7%
$639,657
$639.7K
Cap Rate 9%
$497,511
$497.5K
Market Conditions
NOI Build-Up for 1,360 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
$68.5K $50.40/SF
− Vacancy
−$8.8K −$6.50/SF
EGI
$59.7K $43.90/SF
− OpEx
−$14.9K −$10.97/SF
NOI
$44.8K $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%
$895,520
Cap Rate 7%
$639,657
Cap Rate 9%
$497,511
Alternative Uses
Best Use
Office B
$639.7K
$559.7K – $746.3K
NOI $44,776 @ 7.0% cap · market cap 2.99%
Second Best
Healthcare Medical
$448.0K
$392.0K – $522.7K
NOI $31,359 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.00M
$877.3K – $1.17M
NOI $70,183 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 11104, NY
27,407
Population
13,224
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
68,518
Density / Sq Mi
$84,716
Median Household Income
$60,346
Median Earnings
$1,924
Median Rent
$665,700
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?
Mixed-use property - Medical equipment conveys with the office, alongside a three-bedroom apartment on the second floor.
Where is this mixed-use property located?
The property is located at 4014 Greenpoint Avenue Sunnyside, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Existing medical office with multiple exam rooms and an office; Medical equipment included with the sale; Separate three‑bedroom apartment on the second floor
