Medical Office Space with
For Sale
$215,000
75-58 113th Street Unit D Unit D, New York, NY 11375
Lower-level condominium in an elevator building offers three rooms, a waiting area, and flexible professional-office configuration.
Property Size489 SF
Price / SF$439.67
Days on Market128
Property Features for 75-58 113th Street Unit D Unit D
General Information
Standard status
Active
Size
489 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$7,918
Amenities
Window/Wall Unit
3
Parking.
On Street.
Building Details
Year Built
1989
Listing Agency:
BERKSHIRE HATHAWAY
(929) 350-8257
Listed By:
Renuka Bridglal
(929) 350-8257
Source:
Xome
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 31 at 2:51PM
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 489-square-foot 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, wireless doorbell camera, hot water heater, and private backyard. The property is in an elevator building constructed in 1989.
The office is located at 75-58 113th Street, Unit D, in Forest Hills, one block from Queens Blvd. Multiple train stations and bus lines are nearby. On-street parking is available, and board approval is not required.
The office is located at 75-58 113th Street, Unit D, in Forest Hills, one block from Queens Blvd. Multiple train stations and bus lines are nearby. On-street parking is available, and board approval is not required.
Key Highlights
- 489‑square‑foot lower‑level medical or professional office condominium
- Three‑room layout with a small waiting area
- Private backyard included
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
$15,312
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
7.12%
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%
$306,240
$306.2K
Cap Rate 7%
$218,743
$218.7K
Cap Rate 9%
$170,133
$170.1K
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
$25.2K $51.48/SF
− Vacancy
−$4.8K −$9.73/SF
EGI
$20.4K $41.75/SF
− OpEx
−$5.1K −$10.44/SF
NOI
$15.3K $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%
$306,240
Cap Rate 7%
$218,743
Cap Rate 9%
$170,133
Alternative Uses
Best Use
Office B
$218.7K
$191.4K – $255.2K
NOI $15,312 @ 7.0% cap · market cap 7.12%
Second Best
Healthcare Medical
$208.2K
$182.2K – $242.9K
NOI $14,576 @ 7.0% cap · market cap 6.78%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,203 @ 7.0% cap · market cap 39.63%
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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- Bond Vets - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Bond Vet - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Steinway Court Veterinarian hospital — 107-28 71st Rd, Queens, NY 11375
Frequently Asked Questions
What type of property is this?
Medical Office Space - Lower-level condominium in an elevator building offers three rooms, a waiting area, and flexible professional-office configuration.
Where is this medical office space located?
The property is located at 75-58 113th Street Unit D Unit D 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: 489‑square‑foot lower‑level medical or professional office condominium; Three‑room layout with a small waiting area; Private backyard included
