Woodside Medical/Community Facility
For Sale
$4,200,000
63-14 Queens Blvd ABCDEFGHJL, Queens, NY 11377
Corner property suitable for medical, educational, or community uses.
Property Size7,923 SF
Days on Market140
Property Features for 63-14 Queens Blvd ABCDEFGHJL
General Information
Standard status
Active
Size
7,923 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$91,718
Building Details
Building Size
7,923 SF
Year Built
2010
Units
10
Listing Agency:
EXP Realty
(917) 920-6386
Listed By:
Vincent Koo CBR SRS
(917) 920-6386
Source:
Elliman
Added: Apr 15
Changed: Aug 28
Last Checked: Aug 30 at 10:21PM
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 EXP Realty
Investment Insights
Based on property information with market context.
Located at 63-14 Queens Boulevard in Woodside, this corner property presents a spacious opportunity for medical or community facility use. The modern, elevator building was previously operated as a college dormitory and features a turnkey layout suitable for various community facility uses, including medical offices, educational institutions, wellness or treatment centers, and professional practices. The property offers current in-place income and additional upside, allowing a new owner to reposition or re-lease on their own terms. The floor plan includes efficiently sized suites that can be combined or demised, ample natural light, modern systems, and a configuration that supports both private offices and shared common areas. The property benefits from excellent visibility and access along Queens Boulevard, with proximity to multiple subway lines, bus routes, and major highways providing connections to Manhattan and the rest of Queens. The surrounding neighborhood features dense residential blocks, retail corridors, schools, and medical facilities. This property is suited for investors or end users seeking stable income with value-add potential through lease-up of vacant units, programmatic upgrades, or a full repositioning while leveraging the existing dormitory-style infrastructure. The location is very bikeable (bike score 78), a walker's paradise (walk score 97) and a rider's paradise (transit score 100).
Key Highlights
- Prime location on Queens Boulevard with exceptional visibility, accessibility, high walk score (97) and transit score (100).
- Turnkey medical/community facility layout, previously a college dormitory, suitable for various uses.
- Strong in‑place income with upside potential.
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
$182,689
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
4.35%
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%
$3,653,780
$3.7M
Cap Rate 7%
$2,609,843
$2.6M
Cap Rate 9%
$2,029,878
$2.0M
Market Conditions
NOI Build-Up for 7,923 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
$332.8K $42.00/SF
− Vacancy
−$28.3K −$3.57/SF
EGI
$304.5K $38.43/SF
− OpEx
−$121.8K −$15.37/SF
NOI
$182.7K $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%
$3,653,780
Cap Rate 7%
$2,609,843
Cap Rate 9%
$2,029,878
Alternative Uses
Best Use
Healthcare Medical
$2.61M
$2.28M – $3.04M
NOI $182,689 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.84M
$5.11M – $6.81M
NOI $408,865 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,632
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Corner property suitable for medical, educational, or community uses.
Where is this medical center located?
The property is located at 63-14 Queens Blvd ABCDEFGHJL Queens, NY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Prime location on Queens Boulevard with exceptional visibility, accessibility, high walk score (97) and transit score (100).; Turnkey medical/community facility layout, previously a college dormitory, suitable for various uses.; Strong in‑place income with upside potential.
