Building Details

Building Size 1,570 SF

Year Built 2015

Tenancy Single

Listing Agency: B Square Realty b***@gmail.com Show Phone

Listed By: Yiwen Zhu · License #1027686 Show Phone

Source: Croninreale

Added: Jul 17 Changed: Oct 23 Last Checked: Oct 23 at 3:53PM

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Investment Insights

Based on property information with market context.

Units S3 and S4 form a medical-office condominium at 4104 27th Street in Long Island City. The space is occupied by a dental practice, and the building was completed in 2015. An ICAP tax abatement applies to the property.

The location has access to the E, F, M, R, and 7 subway lines.

Key Highlights

• Two adjoining medical‑office condominium units, S3 and S4
• Occupied by a dental practice
• ICAP tax abatement applies

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,690

Cap Rate

4.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,033,800 $1.0M

Cap Rate 7%

$738,429 $738.4K

Cap Rate 9%

$574,333 $574.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,570 SF

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 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 (±1% cap)

NOI $51,690 @ 7.0% cap · market cap 4.60%

Second Best

Healthcare Medical

$517.2K

$452.5K – $603.4K (±1% cap)

NOI $36,201 @ 7.0% cap · market cap 3.22%

Theoretical Best

Office A

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,020 @ 7.0% cap · market cap 7.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

4014 27th st ... Bakery

Suggested Use

Top Pick Nursing Home Acupuncture Adult Day Care (Bike/Boat/Book/etc) Store Pet Grooming Service Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

6,446

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11101, NY

48,867

Population

27,093

Households

1.8

Avg Household Size

33

Median Age

65%

College-Educated

90%

High-School Grad

2.6 sq mi

ZIP Area

18,795

Density / Sq Mi

$116,807

Median Household Income

$83,892

Median Earnings

$2,740

Median Rent

$995,500

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Similar Off Market Nearby

• The Veterinarians at Court Square — 27-19 44th Dr, Queens, NY 11101
• Veterinary Eye Center of New York City (Long Island City) — 5 Ct Square W, Queens, NY 11101
• InstaVet - Veterinary Care Center — 44-16 23rd St, Queens, NY 11101
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Frequently Asked Questions

What type of property is this?

Medical Office Space - Two adjoining units are occupied by a dental practice and benefit from an ICAP tax abatement.

Where is this medical office space located?

The property is located at 4104 27th Street #S3&S4 Long Island City, NY.

What is the asking price?

The asking price for this property is $1,123,200.

What are key features of this property?

This property features: Two adjoining medical‑office condominium units, S3 and S4; Occupied by a dental practice; ICAP tax abatement applies