Lower-Level Office Condo
For Sale
$215,000
75-58 113th Unit C St, New York, NY 11375
Lower-level condo offers flexible office or medical use with ductless HVAC in every room and an elevator building.
Property Size437 SF
Price / SF$491.99
Days on Market92
Property Features for 75-58 113th Unit C St
General Information
Standard status
Active
Size
437 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$7,918
Amenities
ductless HVAC units
intercom system
wireless doorbell camera
hot water heater
3
Parking.
On Street.
Listing Agency:
BERKSHIRE HATHAWAY
(929) 350-8257
Listed By:
Renuka Bridglal
(929) 350-8257
Source:
Xome
Added: May 10
Changed: Aug 8
Last Checked: Aug 9 at 5:20AM
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 BERKSHIRE HATHAWAY
Investment Insights
Based on property information with market context.
This lower-level condo suite is suited for medical or professional office use, with the flexibility to convert to a 2-bedroom apartment. The unit is located in a well-maintained elevator building and includes ductless HVAC units in every room, an intercom system, and a wireless doorbell camera, along with a hot water heater and additional features. The current interior layout provides three rooms plus a small waiting area.
The property is one block from Queens Blvd and is close to multiple train stations and bus lines, providing convenient transit access for staff and visitors.
The listing notes low common charges and taxes, and there is no board approval required, allowing for immediate use or lease.
The property is one block from Queens Blvd and is close to multiple train stations and bus lines, providing convenient transit access for staff and visitors.
The listing notes low common charges and taxes, and there is no board approval required, allowing for immediate use or lease.
Key Highlights
- Lower‑level condo in a well‑maintained elevator building with intercom system and wireless doorbell camera
- Flexible layout for medical or professional office, with current setup of 3 rooms plus a small waiting area
- Ductless HVAC units in every room for individual heating and cooling control
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
$13,684
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
6.36%
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%
$273,680
$273.7K
Cap Rate 7%
$195,486
$195.5K
Cap Rate 9%
$152,044
$152.0K
Market Conditions
NOI Build-Up for 437 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
$22.5K $51.48/SF
− Vacancy
−$4.3K −$9.73/SF
EGI
$18.2K $41.75/SF
− OpEx
−$4.6K −$10.44/SF
NOI
$13.7K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /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%
$273,680
Cap Rate 7%
$195,486
Cap Rate 9%
$152,044
Alternative Uses
Best Use
Office B
$195.5K
$171.1K – $228.1K
NOI $13,684 @ 7.0% cap · market cap 6.36%
Second Best
Healthcare Medical
$186.1K
$162.8K – $217.1K
NOI $13,026 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$1.09M
$951.8K – $1.27M
NOI $76,143 @ 7.0% cap · market cap 35.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,047
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Lower-level condo offers flexible office or medical use with ductless HVAC in every room and an elevator building.
Where is this medical office space located?
The property is located at 75-58 113th Unit C St New York, NY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Lower‑level condo in a well‑maintained elevator building with intercom system and wireless doorbell camera; Flexible layout for medical or professional office, with current setup of 3 rooms plus a small waiting area; Ductless HVAC units in every room for individual heating and cooling control
