Renovated Medical Office
For Sale
Contact for pricing
4123 Union Street, New York, NY 11355
The space includes treatment rooms, reception, accessible restrooms, and shared waiting and staff areas.
Property Size16,666 SF
Price / SF$0.12
Days on Market20
Property Features for 4123 Union Street
General Information
Standard status
Active
Size
16,666 SF
Elevators
Yes
Property subtype
Office
Site & Location
Neighborhood
Queensboro Hill
Additional Details
Condition
Newly Renovated
Property Use
Medical Office
Medical Specialty
physical therapy
Amenities
professional waiting area
front desk setup
staff breakroom
kitchenette
in-unit restrooms
Building Details
Year Built
2023
Tenancy
Multi
Listing Agency:
Flushing Park Realty Co
Listed By:
Zenia Yuan · License #37YU0349314
(718) 461-1778
Source:
Neilcharlesrealestate
Added: Oct 12
Changed: Oct 30
Last Checked: Oct 30 at 2:13AM
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 Flushing Park Realty Co
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office suite was renovated with bright lighting, modern finishes, and gym-style flooring. Its layout includes a reception area and private consultation or treatment rooms, with an open treatment area also described as an option. The unit has restrooms, while shared amenities include a waiting area, front desk, staff breakroom, and kitchenette.
Access is available through a ground-floor entrance or an elevator. The property is described as ADA compliant, with wide doorways and accessible restrooms. Orthopedics, neurology, and podiatry practices are also located in the medical setting.
Access is available through a ground-floor entrance or an elevator. The property is described as ADA compliant, with wide doorways and accessible restrooms. Orthopedics, neurology, and podiatry practices are also located in the medical setting.
Key Highlights
- Renovated suite with gym‑style flooring and updated finishes
- Layout offers private treatment rooms and an open treatment area option
- Shared waiting area, front desk, breakroom, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$496,780
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,935,600
$9.9M
Cap Rate 7%
$7,096,857
$7.1M
Cap Rate 9%
$5,519,778
$5.5M
Market Conditions
NOI Build-Up for 16,666 SF
Gross rent
$900.0K $54.00/SF
− Vacancy
−$72.0K −$4.32/SF
EGI
$828.0K $49.68/SF
− OpEx
−$331.2K −$19.87/SF
NOI
$496.8K $29.81/SF
Area
New York, NY
Vacancy
8.00%
Lease Rate
$54.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,935,600
Cap Rate 7%
$7,096,857
Cap Rate 9%
$5,519,778
Alternative Uses
Best Use
Office B
$7.46M
$6.52M – $8.70M
NOI $521,858 @ 7.0% cap · market cap 26,092.90%
Second Best
Healthcare Medical
$7.10M
$6.21M – $8.28M
NOI $496,780 @ 7.0% cap · market cap 24,839.00%
Theoretical Best
Specialty Retail
$41.48M
$36.30M – $48.40M
NOI $2,903,884 @ 7.0% cap · market cap 145,194.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,813
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The space includes treatment rooms, reception, accessible restrooms, and shared waiting and staff areas.
Where is this medical office space located?
The property is located at 4123 Union Street New York, NY.
What are key features of this property?
This property features: Renovated suite with gym‑style flooring and updated finishes; Layout offers private treatment rooms and an open treatment area option; Shared waiting area, front desk, breakroom, and kitchenette
