Lower-Level Medical Office
For Sale
$215,000
75-58 113th Street #D, Forest Hills, NY 11375
Three-room office suite with private backyard, ductless HVAC, and elevator-building access.
Property Size489 SF
Days on Market113
Property Features for 75-58 113th Street #D
General Information
Standard status
Active
Size
489 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
Lower-level
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,918
Amenities
ductless HVAC units in every room
intercom system
wireless doorbell camera
hot water heater
private backyard
Building Details
Building Size
489 SF
Year Built
1989
Buildings
1
Stories
5
Units
1
Listing Agency:
BERKSHIRE HATHAWAY
(929) 350-8257
Listed By:
Renuka Bridglal
(929) 350-8257
Source:
Mahlerrealty
Added: May 11
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 condominium is configured for medical or professional office use, with three rooms and a compact waiting area. Ductless HVAC units serve each room, and the space includes an intercom system, wireless doorbell camera, hot water heater, and a private backyard. The property is located in a well-maintained elevator building constructed in 1989.
Forest Hills amenities and transportation are close at hand, with Queens Boulevard approximately one block away and multiple train stations and bus lines nearby. The office is offered without a board approval requirement.
Forest Hills amenities and transportation are close at hand, with Queens Boulevard approximately one block away and multiple train stations and bus lines nearby. The office is offered without a board approval requirement.
Key Highlights
- Three‑room layout with a small waiting area
- Private backyard included with the lower‑level condo
- Ductless HVAC units installed in every room
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
$16,100
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
7.49%
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%
$322,000
$322.0K
Cap Rate 7%
$230,000
$230.0K
Cap Rate 9%
$178,889
$178.9K
Market Conditions
NOI Build-Up for 489 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
$24.6K $50.40/SF
− Vacancy
−$3.2K −$6.50/SF
EGI
$21.5K $43.90/SF
− OpEx
−$5.4K −$10.97/SF
NOI
$16.1K $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%
$322,000
Cap Rate 7%
$230,000
Cap Rate 9%
$178,889
Alternative Uses
Best Use
Office B
$230.0K
$201.3K – $268.3K
NOI $16,100 @ 7.0% cap · market cap 7.49%
Second Best
Healthcare Medical
$161.1K
$140.9K – $187.9K
NOI $11,275 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$360.5K
$315.4K – $420.6K
NOI $25,235 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,040
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 - Three-room office suite with private backyard, ductless HVAC, and elevator-building access.
Where is this medical office space located?
The property is located at 75-58 113th Street #D Forest Hills, 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: Three‑room layout with a small waiting area; Private backyard included with the lower‑level condo; Ductless HVAC units installed in every room
