Medical Office Space with
7003 37th avenue, Jackson Heights, NY 11372
For Sale
Contact for pricing
High ceilings and a private parking space serve this property on the 37th Avenue corridor.
Property Size1,300 SF
Price / SF$6.54
Days on Market35
Property Features for 7003 37th avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Public Transit
Property Use
Medical Specialty
Listing Agency:
Keller Williams Landmark II
(347) 846-1200
Listed By:
Nuruzzaman Sarder · License #10401369971
(917) 379-4125
Source:
Neilcharlesrealestate
Added: Oct 5
Changed: Nov 7
Last Checked: Nov 7 at 2:12PM
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 Keller Williams Landmark II
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Investment Insights
Based on property information with market context.
Located at 7003 37th Avenue in Jackson Heights, this medical office space offers a high-ceiling interior with an expansive layout and a finished full basement. A private parking spot is included. The property is a 2-minute walk from a train, with year-round foot traffic along the corridor.
Key Highlights
- Finished full basement
- Expansive layout with high ceilings
- One private parking spot included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,731
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,620
$334.6K
Cap Rate 7%
$239,014
$239.0K
Cap Rate 9%
$185,900
$185.9K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$31.2K $24.00/SF
− Vacancy
−$4.4K −$3.41/SF
EGI
$26.8K $20.59/SF
− OpEx
−$10.0K −$7.72/SF
NOI
$16.7K $12.87/SF
Area
Queens County, NY
Vacancy
14.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,620
Cap Rate 7%
$239,014
Cap Rate 9%
$185,900
Alternative Uses
Best Use
Office B
$611.4K
$535.0K – $713.4K
NOI $42,801 @ 7.0% cap · market cap 503.54%
Second Best
Healthcare Medical
$428.2K
$374.7K – $499.6K
NOI $29,975 @ 7.0% cap · market cap 352.65%
Theoretical Best
Office A
$958.4K
$838.6K – $1.12M
NOI $67,086 @ 7.0% cap · market cap 789.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7,113
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Queens County, NY
Properties on Market for Medical Office Space in Queens County
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - High ceilings and a private parking space serve this property on the 37th Avenue corridor.
Where is this medical office space located?
The property is located at 7003 37th avenue Jackson Heights, NY.
What are key features of this property?
This property features: Finished full basement; Expansive layout with high ceilings; One private parking spot included
