Jackson Heights Office Building For
7115 Northern Blvd, Jackson Heights, NY 11372
7,720 SF Office Building in Jackson Heights, NY 11372 For Sale
Property size:
7,720 SFLot size:
0.09 AcresPrice / SF:
$518/SF- Added:
- Jan 30, 2025
- Days on Market:
- 481
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 7115 Northern Blvd
General Information
- Standard status
- Active
- Property type
- Other office properties, Office buildings, Office Units, Office Spaces
- Size
- 7,720 SF
- Total Parking Spaces
- 2
- Elevators
- N/A
- Lot size
- 0.09 Acres
- Investment Type
- Owner User
Building Details
- Year Built
- 1966
- Year Renovated
- 2022
- Buildings
- 1
- Stories
- 3
Listing agent Victor License #40WE0641759 (917) 806-7040
Listing office RE/MAX TEAM (917) 806-7040
Listing date Jan 30, 2025
Overview
Located at 7115 Northern Boulevard in Jackson Heights, NY 11372, this 7,720 square-foot, three-story office building offers a prime corner location with significant visibility and accessibility. The building features central air conditioning and heating, an elevator, and parking. Its design is suitable for various commercial office uses, including medical practices, professional offices, corporate headquarters, and non-profit organizations. The location provides 100 feet of signage frontage, benefiting from high daily traffic volume. Situated within walking distance of the 74th Street/Roosevelt Avenue express subway, it offers convenient access to public transportation. Its proximity to diverse neighborhoods, the Brooklyn/Queens Expressway, Grand Central Parkway, LaGuardia Airport, and Manhattan enhances its appeal. The property is located on a 0.09-acre lot. This is an owner-user investment opportunity.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$2.82M
NOI $254,172 @ 9.00% cap · cautious / downside scenario
Moderate
$3.63M
NOI $254,172 @ 7.00% cap · market / base-case scenario
Aggressive
$5.08M
NOI $254,172 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $389.1k | $50.40 |
| − Vacancy | −$50.2k | −$6.50 |
| EGI | $338.9k | $43.90 |
| − OpEx | −$84.7k | −$10.97 |
| NOI | $254.2k | $32.92 |
7,720 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$3.63M
$3.18M – $4.24M
NOI $254,172 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.69M
$4.98M – $6.64M
NOI $398,389 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office Spaces
Location Insight
- Map
- Local Demand
- City
- Jackson Heights
- County
- Queens
- State
- New York
- Longitude
- -73.894986
- Latitude
- 40.754742
Nearby Similar for Sale
FAQs
What type of property is this?
Office property - 7,720 SF Office Building in Jackson Heights, NY 11372 For Sale
Where is this office property located?
The property is located at 7115 Northern Blvd Jackson Heights, NY.
What is the asking price?
The asking price for this property is $4,000,000.
