Professional Office Unit with
For Sale
$199,800
87-14 57th Road Unit Prof C, Elmhurst, NY 11373
Elevator building unit with private outdoor space, abundant natural light, and permitted light food preparation.
Property Size328 SF
Price / SF$609.15
Days on Market199
Property Features for 87-14 57th Road Unit Prof C
General Information
Standard status
Active
Size
328 SF
Elevators
Yes
Property subtype
Office
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,980
Amenities
private balcony
laundry facilities
new cooking oven & refrigerator
Building Details
Building Size
328 SF
Year Built
1986
Listing Agency:
Winzone Realty Inc
(347) 781-8888
Listed By:
Victoria Chang
Source:
Cbwarburg
Added: Jan 27
Changed: Aug 14
Last Checked: Aug 14 at 7:14AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This 328-square-foot professional office unit is located in an elevator building completed in 1986. The space has been freshly painted and includes a new cooking oven and refrigerator, supporting office, studio, or other professional activity where light food preparation is allowed. Floor-to-ceiling grid windows extend to a private balcony, bringing natural light into the unit and creating an open interior feel.
Building amenities include shared laundry facilities with a washer and dryer. The property is positioned two blocks from the M and R subway lines, with shops and restaurants nearby and convenient access to public transportation. The unit is identified as Prof C at 87-14 57th Road in Elmhurst, NY 11373.
Building amenities include shared laundry facilities with a washer and dryer. The property is positioned two blocks from the M and R subway lines, with shops and restaurants nearby and convenient access to public transportation. The unit is identified as Prof C at 87-14 57th Road in Elmhurst, NY 11373.
Key Highlights
- 328 SF professional office unit
- Private balcony with floor‑to‑ceiling grid windows
- New cooking oven and refrigerator
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
Current Use
Location Intelligence
Trade Area within ½ mile
2,023
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 - Elevator building unit with private outdoor space, abundant natural light, and permitted light food preparation.
Where is this office units located?
The property is located at 87-14 57th Road Unit Prof C 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: 328 SF professional office unit; Private balcony with floor‑to‑ceiling grid windows; New cooking oven and refrigerator
