Multi-Tenant Medical Office
80-15 164th Street Fresh Meadows, NY 11432
80-15 164th Street, Fresh Meadows, NY, 11432
$12,900,000
For Sale
$12,900,000
SINGLE_FAMILY - Fresh Meadows, NY
Property Size30,500 SF
Lot Size0.08 Acres
Price / SF$422.95
Days on Market380
Property Features for 80-15 164th Street
General Information
- Property type
- Residential
- Property subtype
- Office
- Standard status
- Active
- APN
- 07015-0030
- 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 Agency
Astor Brokerage Ltd
(718) 263-4500
7238 Main St, Flushing, NY
Listed by
Mordechai Striks · License #0000
(917) 722-1338
Added: Jul 7, 2025 Updated: Jul 16 at 10:05 pm Checked: Jul 21 at 5:06 am
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.
Investment Insights
Based on property information with market context.
A multi-tenant medical office building of approximately 30,000–30,500 square feet with on-site parking. Originally constructed in 1973 and significantly renovated in 2008, the property is affiliated with NYU Langone and is positioned to serve a healthcare-focused tenant mix. The listing notes a pro forma demonstrating above-average market returns, including a stated 7% cap rate if fully leased.
The building is located at 80-15 164th Street in Fresh Meadows, Queens, on a major thoroughfare. The remarks describe strong visibility with prominent signage and excellent access, and indicate it is within 1 to 3 blocks of Kew Garden Hills, Fresh Meadows, Hillcrest, and Jamaica. Additional proximity mentioned includes major hospitals such as Queens Hospital Center, St. John’s University, and connections to Grand Central Parkway, schools, airports, and public transportation.
The offering is presented as a medical investment opportunity with two additional tenants needed to reach the fully leased scenario referenced in the remarks.
The building is located at 80-15 164th Street in Fresh Meadows, Queens, on a major thoroughfare. The remarks describe strong visibility with prominent signage and excellent access, and indicate it is within 1 to 3 blocks of Kew Garden Hills, Fresh Meadows, Hillcrest, and Jamaica. Additional proximity mentioned includes major hospitals such as Queens Hospital Center, St. John’s University, and connections to Grand Central Parkway, schools, airports, and public transportation.
The offering is presented as a medical investment opportunity with two additional tenants needed to reach the fully leased scenario referenced in the remarks.
Key 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.
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical centers
Similar For Sale Nearby
FAQs
What type of property is this?
Medical center - Multi-tenant medical building with parking, built in 1973 and renovated in 2008, affiliated with NYU Langone.
Where is this medical center 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.
