Medical Office with Expansion
For Sale
$2,249,000
8734 169th Street, Jamaica, NY 11432
Existing layout includes examination rooms, open workspace, kitchen, and bathrooms.
Property Size2,358 SF
Lot Size0.14 Acres
Price / SF$953.77
Days on Market28
Property Features for 8734 169th Street
General Information
Standard status
Active
Size
2,358 SF
Lot size
0.14 Acres
Property subtype
Commercial
Zoning
R4A
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,813
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Exit Realty Prime
(516) 992-2888
Listed By:
Moniruzzaman R. Majumder CBR (zamanny@gmail.com)
Source:
Iaquintarealestate
Added: Aug 3
Changed: Aug 30
Last Checked: Aug 30 at 8:33AM
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 Exit Realty Prime
Investment Insights
Based on property information with market context.
This medical office property combines an existing 2,358-square-foot structure with an adjoining vacant lot. The building, constructed in 1920, is configured for medical use with three examination rooms, an open area, a kitchen, and a bathroom on the first floor. The second floor adds three rooms and another bathroom, while the finished attic and full basement provide additional usable areas. The basement has a separate entrance.
The property consists of two adjacent lots at 8734 169th Street in Jamaica, New York. One parcel measures 40 feet by 100 feet and contains the existing building; the second measures 20 feet by 100 feet and is vacant. The location is near Hillside Avenue, 169th Street, and the F train station.
R4A zoning is identified with a residential FAR of 1 and a facility FAR of 2. The source information describes potential for new construction on the vacant parcel or expanded medical office development across the property.
The property consists of two adjacent lots at 8734 169th Street in Jamaica, New York. One parcel measures 40 feet by 100 feet and contains the existing building; the second measures 20 feet by 100 feet and is vacant. The location is near Hillside Avenue, 169th Street, and the F train station.
R4A zoning is identified with a residential FAR of 1 and a facility FAR of 2. The source information describes potential for new construction on the vacant parcel or expanded medical office development across the property.
Key Highlights
- 2,358‑square‑foot medical office building constructed in 1920
- Two adjacent lots: 40 ft x 100 ft improved parcel and 20 ft x 100 ft vacant parcel
- Existing layout includes 3 examination rooms, open area, kitchen, and bathrooms
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
$77,634
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
3.45%
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%
$1,552,680
$1.6M
Cap Rate 7%
$1,109,057
$1.1M
Cap Rate 9%
$862,600
$862.6K
Market Conditions
NOI Build-Up for 2,358 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
$118.8K $50.40/SF
− Vacancy
−$15.3K −$6.50/SF
EGI
$103.5K $43.90/SF
− OpEx
−$25.9K −$10.97/SF
NOI
$77.6K $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%
$1,552,680
Cap Rate 7%
$1,109,057
Cap Rate 9%
$862,600
Alternative Uses
Best Use
Office B
$1.11M
$970.4K – $1.29M
NOI $77,634 @ 7.0% cap · market cap 3.45%
Second Best
Healthcare Medical
$776.7K
$679.6K – $906.2K
NOI $54,371 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,684 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,090
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
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?
Medical Office Space - Existing layout includes examination rooms, open workspace, kitchen, and bathrooms.
Where is this medical office space located?
The property is located at 8734 169th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: 2,358‑square‑foot medical office building constructed in 1920; Two adjacent lots: 40 ft x 100 ft improved parcel and 20 ft x 100 ft vacant parcel; Existing layout includes 3 examination rooms, open area, kitchen, and bathrooms
