Elevator Medical Office
For Sale
$4,200,000
63-14 Queens Boulevard #ABCDEFGHJL, Woodside, NY 11377
Corner facility with private suites, shared areas, natural light, and updated building systems.
Property Size7,923 SF
Days on Market156
Property Features for 63-14 Queens Boulevard #ABCDEFGHJL
General Information
Standard status
Active
Size
7,923 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Public Transit
Yes
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:
Alexandermadisonhomes
Added: Mar 29
Changed: Aug 29
Last Checked: Aug 30 at 5:37PM
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 medical office property is housed in an elevator building completed in 2010. The interior is fully built out with efficiently configured suites, private offices, shared common areas, and strong natural light. Existing building systems support the current layout, while suites may be combined or separated based on operational requirements.
The property previously operated as a college dormitory, providing an established room-based configuration that may support community facility, educational, wellness, treatment, or professional office uses described for the asset. Its Queens Boulevard address places the building within a setting that includes residential blocks, retail corridors, schools, and medical facilities, with access to subway lines, bus routes, and major highways.
The property previously operated as a college dormitory, providing an established room-based configuration that may support community facility, educational, wellness, treatment, or professional office uses described for the asset. Its Queens Boulevard address places the building within a setting that includes residential blocks, retail corridors, schools, and medical facilities, with access to subway lines, bus routes, and major highways.
Key Highlights
- Corner property at 63‑14 Queens Boulevard in Woodside, NY 11377
- Elevator building completed in 2010
- Fully built‑out interior with private offices and shared common areas
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
Healthcare Medical
$2.61M
$2.28M – $3.04M
NOI $182,689 @ 7.0% cap · market cap 4.35%
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
3,847
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Corner facility with private suites, shared areas, natural light, and updated building systems.
Where is this medical office space located?
The property is located at 63-14 Queens Boulevard #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: Corner property at 63‑14 Queens Boulevard in Woodside, NY 11377; Elevator building completed in 2010; Fully built‑out interior with private offices and shared common areas
