Medical Office Building with
80-15 164th Street, Fresh Meadows, NY 11432
SINGLE_FAMILY - Fresh Meadows, NY
Type:Office
Property size:
30,500 SFLot size:
0.08 AcresPrice / SF:
$422/SF- Added:
- Jul 7, 2025
- Days on Market:
- 368
- Last Refresh:
- Jul 8 at 11:06 pm
Property Features for 80-15 164th Street
General Information
- Property type
- Residential
- Property subtype
- Office
- Standard status
- Active
- APN
- 07015-0030
- Size
- 30,500 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8128
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1950
- Building materials
- Brick
Listing agent Mordechai Striks (917) 722-1338
Listing office Astor Brokerage Ltd 7238 Main St, Flushing, NY (718) 263-4500
Listing date Jul 7, 2025
MLS# 886260
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 7% CAP Rate potential when fully tenanted, indicating strong investment returns.
- 30,500 Sq.Ft. medical building affiliated with NYU Langone, enhancing prestige and attracting tenants.
- Strategic location on a major thoroughfare with high visibility, prominent signage, and excellent access.
- Proximity to major hospitals (Queens Hospital Center), St. John's University, Grand Central Parkway, schools, airports, and public transportation ensures consistent demand.
- Significantly renovated in 2008, suggesting updated infrastructure and reduced maintenance costs.
- Located within 1 to 3 blocks of Kew Garden Hills, Fresh Meadows, Hillcrest, and Jamaica, providing convenient access for a large patient base.
Overview
Premier 30,500-square-foot multi-tenant medical building with parking, originally constructed in 1973 and significantly renovated in 2008. The property is affiliated with NYU Langone and is currently structured to support multiple healthcare operators. Public remarks indicate the building’s financial model reflects above-average market returns, and it cites a 7% cap rate if fully leased, with two additional tenants still needed.
Located at 80-15 164th Street in Fresh Meadows, Queens, the building is positioned on a major thoroughfare. The asset is described as offering high visibility with prominent signage and convenient access for patients and staff. Public remarks also note the property sits within approximately 1 to 3 blocks of Kew Garden Hills, Fresh Meadows, Hillcrest, and Jamaica, and is near major healthcare providers including Queens Hospital Center and St. John’s University, as well as major road access via Grand Central Parkway and nearby schools, airports, and public transportation.
With its established medical orientation, parking, and NYU Langone affiliation, this building is best suited for healthcare practices seeking a multi-tenant environment and straightforward patient access. The current leasing need for two more tenants presents an opportunity for qualified medical operators to join a property designed specifically for medical use.
Located at 80-15 164th Street in Fresh Meadows, Queens, the building is positioned on a major thoroughfare. The asset is described as offering high visibility with prominent signage and convenient access for patients and staff. Public remarks also note the property sits within approximately 1 to 3 blocks of Kew Garden Hills, Fresh Meadows, Hillcrest, and Jamaica, and is near major healthcare providers including Queens Hospital Center and St. John’s University, as well as major road access via Grand Central Parkway and nearby schools, airports, and public transportation.
With its established medical orientation, parking, and NYU Langone affiliation, this building is best suited for healthcare practices seeking a multi-tenant environment and straightforward patient access. The current leasing need for two more tenants presents an opportunity for qualified medical operators to join a property designed specifically for medical use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.54M | $50.40 |
| − Vacancy | −$198.3k | −$6.50 |
| EGI | $1.34M | $43.90 |
| − OpEx | −$334.7k | −$10.97 |
| NOI | $1.00M | $32.92 |
30,500 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$14.35M
$12.55M – $16.74M
NOI $1,004,176 @ 7.0% cap · market cap 7.78%
Second Best
Healthcare Medical
$10.05M
$8.79M – $11.72M
NOI $703,269 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$22.48M
$19.67M – $26.23M
NOI $1,573,946 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Places Nearby
- Calvary Veterinary Ultrasound — 1011 157th St, Whitestone, NY 11357
Location Insight
- Map
- Local Demand
- City
- Fresh Meadows
- County
- Queens
- State
- New York
- Longitude
- -73.798925
- Latitude
- 40.787157
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Renovated multi-tenant medical building with parking, affiliated with NYU Langone, positioned for strong patient and staff access.
Where is this medical office space located?
The property is located at 80-15 164th Street Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $12,900,000.
What are key features of this property?
This property features: 7% CAP Rate potential when fully tenanted, indicating strong investment returns.; 30,500 Sq.Ft. medical building affiliated with NYU Langone, enhancing prestige and attracting tenants.; Strategic location on a major thoroughfare with high visibility, prominent signage, and excellent access.
