Corner Medical Community
For Sale
$4,200,000
63-14 Queens Boulevard Unit ABCDEFGHJL, Woodside, NY 11377
Turnkey elevator building built for dormitory-style operations, with efficiently sized suites suited to medical or community uses.
Property Size7,923 SF
Days on Market172
Property Features for 63-14 Queens Boulevard Unit ABCDEFGHJL
General Information
Standard status
Active
Size
7,923 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$91,718
Building Details
Building Size
7,923 SF
Year Built
2010
Listing Agency:
EXP Realty
Listed By:
Vincent Koo CBR SRS
(917) 920-6386
Source:
Serhant
Added: Mar 29
Changed: Sep 7
Last Checked: Sep 15 at 10:45AM
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.
This modern, elevator-served building is configured as a corner medical/community facility with a turnkey interior layout that was previously operated as a college dormitory. The floor plan is built around efficiently sized suites that can be combined or demised, supporting both private office space and shared common areas. The space is described as having strong natural light and modern systems, providing a ready-made base for medical offices, educational institutions, wellness or treatment centers, and other professional practices. The property also features current in-place income and includes vacant units, offering flexibility for a new owner to reposition or re-lease.
Located at 63-14 Queens Boulevard in Woodside, the property benefits from visibility and access along Queens Boulevard. The remarks note proximity to multiple subway lines, bus routes, and major highways, with connections to Manhattan and throughout Queens. The surrounding area is described as including dense residential blocks along with retail corridors, schools, and medical facilities.
For buyers and operators, the dormitory-style infrastructure and suite-based configuration can support a range of community-focused programs, including medical office use and educational or wellness offerings. The ability to combine or demise suites may help tailor space to different tenant requirements, while the presence of current income and vacant units supports transition planning for an owner looking to manage re-lease and potential programmatic upgrades.
Located at 63-14 Queens Boulevard in Woodside, the property benefits from visibility and access along Queens Boulevard. The remarks note proximity to multiple subway lines, bus routes, and major highways, with connections to Manhattan and throughout Queens. The surrounding area is described as including dense residential blocks along with retail corridors, schools, and medical facilities.
For buyers and operators, the dormitory-style infrastructure and suite-based configuration can support a range of community-focused programs, including medical office use and educational or wellness offerings. The ability to combine or demise suites may help tailor space to different tenant requirements, while the presence of current income and vacant units supports transition planning for an owner looking to manage re-lease and potential programmatic upgrades.
Key Highlights
- 2010‑built corner medical/community facility at 63‑14 Queens Boulevard in Woodside
- Modern elevator building with a floor plan configured for private offices and shared common areas
- Built out and previously operated as a college dormitory, with suites that can be combined or demised
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
$260,855
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
6.21%
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%
$5,217,100
$5.2M
Cap Rate 7%
$3,726,500
$3.7M
Cap Rate 9%
$2,898,389
$2.9M
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
$399.3K $50.40/SF
− Vacancy
−$51.5K −$6.50/SF
EGI
$347.8K $43.90/SF
− OpEx
−$87.0K −$10.97/SF
NOI
$260.9K $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%
$5,217,100
Cap Rate 7%
$3,726,500
Cap Rate 9%
$2,898,389
Alternative Uses
Best Use
Office B
$3.73M
$3.26M – $4.35M
NOI $260,855 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$2.77M
$2.42M – $3.23M
NOI $193,673 @ 7.0% cap · market cap 4.61%
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
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,847
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey elevator building built for dormitory-style operations, with efficiently sized suites suited to medical or community uses.
Where is this apartment building located?
The property is located at 63-14 Queens Boulevard Unit ABCDEFGHJL Woodside, 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: 2010‑built corner medical/community facility at 63‑14 Queens Boulevard in Woodside; Modern elevator building with a floor plan configured for private offices and shared common areas; Built out and previously operated as a college dormitory, with suites that can be combined or demised
