Medical Office Space with
For Sale
$958,000
4128 150th Street #1B, Flushing, NY 11355
First-floor and basement layout with a separate basement entrance and hardwood flooring throughout.
Property Size1,619 SF
Days on Market174
Property Features for 4128 150th Street #1B
General Information
Standard status
Active
Size
1,619 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
R5
Additional Details
Floor
First Floor and Basement
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$851
Amenities
Hard Wood Floors
Separate Entrance to Basement
Building Details
Building Size
1,619 SF
Year Built
2014
Listing Agency:
RE/MAX 1st Choice
(516) 888-6000
Listed By:
Gina Back · License #309A0944498
Source:
Professionalchoicerealty
Added: Mar 9
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
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 RE/MAX 1st Choice
Investment Insights
Based on property information with market context.
This medical office property includes first-floor and basement space within a 2014-built building. Hardwood flooring extends throughout, and the basement has its own separate entrance. The configuration is suited to medical or professional office use, with R5 zoning applying to the property.
Located at 4128 150th Street in Flushing, the property is within walking distance of the Long Island Rail Road, with bus service to Main Street. On-site parking includes 4 car spaces, along with a 2-car garage.
Located at 4128 150th Street in Flushing, the property is within walking distance of the Long Island Rail Road, with bus service to Main Street. On-site parking includes 4 car spaces, along with a 2-car garage.
Key Highlights
- First‑floor and basement office configuration
- Separate entrance provides direct access to the basement
- Hardwood flooring throughout the property
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
$53,304
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
5.56%
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%
$1,066,080
$1.1M
Cap Rate 7%
$761,486
$761.5K
Cap Rate 9%
$592,267
$592.3K
Market Conditions
NOI Build-Up for 1,619 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
$81.6K $50.40/SF
− Vacancy
−$10.5K −$6.50/SF
EGI
$71.1K $43.90/SF
− OpEx
−$17.8K −$10.97/SF
NOI
$53.3K $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%
$1,066,080
Cap Rate 7%
$761,486
Cap Rate 9%
$592,267
Alternative Uses
Best Use
Office B
$761.5K
$666.3K – $888.4K
NOI $53,304 @ 7.0% cap · market cap 5.56%
Second Best
Healthcare Medical
$533.3K
$466.6K – $622.2K
NOI $37,331 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,548 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,128
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor and basement layout with a separate basement entrance and hardwood flooring throughout.
Where is this medical office space located?
The property is located at 4128 150th Street #1B Flushing, NY.
What is the asking price?
The asking price for this property is $958,000.
What are key features of this property?
This property features: First‑floor and basement office configuration; Separate entrance provides direct access to the basement; Hardwood flooring throughout the property
