Office Unit with Private
For Sale
$199,800
87-14 57th Road, Elmhurst, NY 11373
SINGLE_FAMILY - Elmhurst, NY
Property Size328 SF
Lot Size0.68 Acres
Price / SF$609.15
Days on Market198
Property Features for 87-14 57th Road
General Information
Property type
Residential
Property subtype
Office
Zoning
R6B
Standard status
Active
APN
02858-1028
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2980
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
private balcony
washer & dryer in building
new cooking oven & refrigerator
Building Details
Year built
1986
Building materials
Brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Victoria Chang
(347) 781-8888
Added: Jan 27
Changed: Aug 2
Last Checked: Aug 13 at 7:06AM
MLS# 955661
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.
This legal commercial professional office unit is located within a well-maintained elevator building constructed with brick materials. The unit is newly painted and move-in ready, featuring a private balcony with floor-to-ceiling grid windows that extend to the balcony for natural light. The unit includes a brand-new cooking oven and refrigerator, and it is supported by natural gas heating and central air.
Laundry facilities with a washer and dryer are available in the building. It is located in the heart of Elmhurst, about two blocks to the M and R subway lines, with convenient access to transportation, shops, and restaurants.
Built in 1986, the unit is configured for office, studio, or professional use where light food prep is permitted, and includes a 328 SF interior space.
Laundry facilities with a washer and dryer are available in the building. It is located in the heart of Elmhurst, about two blocks to the M and R subway lines, with convenient access to transportation, shops, and restaurants.
Built in 1986, the unit is configured for office, studio, or professional use where light food prep is permitted, and includes a 328 SF interior space.
Key Highlights
- Legal commercial professional office unit for office, studio, or professional use with light food prep permitted
- 328 SF newly painted and move‑in ready in a well‑maintained elevator brick building
- Private balcony with floor‑to‑ceiling grid windows extending to the balcony for natural light
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
$10,799
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
5.40%
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%
$215,980
$216.0K
Cap Rate 7%
$154,271
$154.3K
Cap Rate 9%
$119,989
$120.0K
Market Conditions
NOI Build-Up for 328 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
$16.5K $50.40/SF
− Vacancy
−$2.1K −$6.50/SF
EGI
$14.4K $43.90/SF
− OpEx
−$3.6K −$10.97/SF
NOI
$10.8K $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%
$215,980
Cap Rate 7%
$154,271
Cap Rate 9%
$119,989
Alternative Uses
Best Use
Office B
$154.3K
$135.0K – $180.0K
NOI $10,799 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.8K
$211.6K – $282.1K
NOI $16,926 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,822
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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?
Office units - Legal commercial office unit in an elevator brick building with a private balcony and central air in Elmhurst.
Where is this office units located?
The property is located at 87-14 57th Road Elmhurst, NY.
What is the asking price?
The asking price for this property is $199,800.
What are key features of this property?
This property features: Legal commercial professional office unit for office, studio, or professional use with light food prep permitted; 328 SF newly painted and move‑in ready in a well‑maintained elevator brick building; Private balcony with floor‑to‑ceiling grid windows extending to the balcony for natural light
