Corner Office
New
For Sale
$9,000,000
65-35 Queens Blvd, Woodside, NY 11377
A two-story building combines medical, office, and community facility occupancy with a street-level suite expected to become vacant.
Property Size22,930 SF
Lot Size0.29 Acres
Price / SF$392.50
Days on Market2
Property Features for 65-35 Queens Blvd
General Information
Standard status
Active
Size
22,930 SF
Net Rentable
22,930 SF
Lot size
0.29 Acres
Property subtype
Office
Zoning
R7X, R5B
Occupancy
82%
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$606,527
Tenant in Place
Yes
Property Use
Medical, Office, Community Facility
Medical Specialty
pediatric developmental services
Amenities
Medical and Community Income: Three tenants pay $606,527 in annual contract rent, with 81% of rent contracted through 2032 and annual increases of 3.0% to 3.5% on two of the three leases.
Owner User Opportunity: A 4,042 SF first floor suite fronting Queens Boulevard will be delivered vacant, anticipated January 2027, for an owner user, a new medical tenant or a lease up investor.
Development Upside: Corner lot zoned R7X and R5B supporting approximately 60,700 SF of residential floor area under UAP pairing current cash flow with future redevelopment
Transit Access: Walking distance to the 7 train and LIRR at 61st Street Woodside and the M and R trains at 65th Street, with Q32 and Q60 bus service on site.
Corner Visibility: 79 feet on Queens Boulevard and 140 feet on 65th Place, on a corridor carrying about 25,000 vehicles daily amid new residential and hotel construction.
Building Details
Building Size
22,930 SF
Year Built
1962
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
New York City Office
Listed By:
Eric Anton · License #License(s): NY: 30AN0806291
(212) 430-5209
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Oct 30 at 2:29PM
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 New York City Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At the Queens Boulevard and 65th Place corner in Woodside, this two-story office building was constructed in 1962 and contains 22,930 rentable square feet on a 12,803-square-foot lot. The property is 82% leased to three tenants serving pediatric developmental services, nonprofit family services, and design. A 4,042-square-foot first-floor suite facing Queens Boulevard is expected to be delivered vacant in January 2027. The second floor is occupied under a lease through August 2032, and two tenants have agreements extending through 2032 with annual increases of 3.0% and 3.5%. All leases provide for reimbursement of a share of real estate tax increases over the applicable base year.
The corner parcel has 79 feet of Queens Boulevard frontage and 140 feet along 65th Place. Bus service is available on site, and the property is within walking distance of rail service at 61st Street–Woodside and 65th Street. Zoning designations are R7X and R5B, and the site is within an Inner Transit Zone. Residential floor area is approximately 50,000 square feet, or up to approximately 60,700 square feet under the Universal Affordability Preference, subject to zoning lot confirmation.
The corner parcel has 79 feet of Queens Boulevard frontage and 140 feet along 65th Place. Bus service is available on site, and the property is within walking distance of rail service at 61st Street–Woodside and 65th Street. Zoning designations are R7X and R5B, and the site is within an Inner Transit Zone. Residential floor area is approximately 50,000 square feet, or up to approximately 60,700 square feet under the Universal Affordability Preference, subject to zoning lot confirmation.
Key Highlights
- 22,930 rentable square feet on a 12,803‑square‑foot lot
- Three tenants occupy 82% of the building
- 4,042‑square‑foot first‑floor suite expected vacant in January 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$754,943
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,098,860
$15.1M
Cap Rate 7%
$10,784,900
$10.8M
Cap Rate 9%
$8,388,256
$8.4M
Market Conditions
NOI Build-Up for 22,930 SF
Gross rent
$1.16M $50.40/SF
− Vacancy
−$149.1K −$6.50/SF
EGI
$1.01M $43.90/SF
− OpEx
−$251.6K −$10.97/SF
NOI
$754.9K $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 Rate 5%
$15,098,860
Cap Rate 7%
$10,784,900
Cap Rate 9%
$8,388,256
Alternative Uses
Best Use
Office B
$10.78M
$9.44M – $12.58M
NOI $754,943 @ 7.0% cap · market cap 8.39%
Second Best
Healthcare Medical
$7.55M
$6.61M – $8.81M
NOI $528,720 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$16.90M
$14.79M – $19.72M
NOI $1,183,298 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
82%
Occupancy
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A two-story building combines medical, office, and community facility occupancy with a street-level suite expected to become vacant.
Where is this office building located?
The property is located at 65-35 Queens Blvd Woodside, NY.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 22,930 rentable square feet on a 12,803‑square‑foot lot; Three tenants occupy 82% of the building; 4,042‑square‑foot first‑floor suite expected vacant in January 2027
