Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    168-30 89th Ave, Queens, NY 11432

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Medical Office Space

    Type:Office, Special Purpose
    Property size:
    3,500 SF
    Lot size:
    0.11 Acres
    Added:
    Apr 1, 2024
    Days on Market:
    794
    Last Refresh:
    May 12 at 9:15 pm

    Property Features for 168-30 89th Ave

    General Information

    Standard status
    Active
    Size
    3,500 SF
    Lot size
    0.11 Acres
    Property subtype
    Office, Special Purpose

    Building Details

    Year Built
    1957

    Spaces For Lease

    at 168-30 89th Ave Contact us

    We can help!

    Listing Contact
    Christos Lolis

    Listing agent Christos Lolis License #10991229709

    Listing office EAST COAST NEW YORK

    Listing date Apr 1, 2024

    Source Crexi

    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 EAST COAST NEW YORK

    HighLights

    • 3,500 sq ft medical/office building in Jamaica, Queens
    • Currently licensed for health care facility use
    • Excellent transportation access near F‑train, multiple bus lines, and JFK Airport
    • NNN lease opportunity with subletting considered
    • Close proximity to universities/colleges like Saint John's University and York College
    • Conveniently located near essential amenities
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.7933
    Latitude
    40.7153

    Nearby Similar for Lease

    • $3,800/Mo
      469 SF

      Medical Office Space in Queens

      Turn-key medical office suite in Jamaica, Queens for rent.
      8712 175th Street, Queens, NY 11432
      View Details
    • $43 SF/Yr
      968-968 SF

      Flushing Community Facility Space

      Ground-floor community facility space with open layout and dual entrances.
      142-05 45Th Ave, Queens, NY 11355
      View Details
    • Sponsored
      $129-$10,046/Mo
      11-1,292 SF

      NY, Astoria - 36th Avenue

      35-01 36Th Ave, Queens, NY 11106
      View Details
    • $3,200/Mo
      792 SF

      High-Visibility Retail Space in Queens

      Prime Rego Park retail space with excellent exposure.
      9229 Queens Blvd CU7, Queens, NY 11374
      View Details
    • $4,000/Mo
      1,200 SF

      Spacious Astoria Office Space Available

      1,200+ sqft office with five rooms near Kaufman Studios.
      3612 34th Ave, Queens, NY 11106
      View Details
    • $1,800/Mo
      450 SF

      Prime Flushing Commercial Space Available

      High-visibility location suitable for various professional uses.
      15302 northern Blvd 2, Queens, NY 11354
      View Details
    • $3,900/Mo
      1,700 SF

      Renovated Office Space in Queens

      Move-in ready office space in prime Flushing location.
      134-02 33rd Ave, Queens, NY 11354
      View Details
    • $26 SF/Yr
      12,000 SF

      Mixed-Use Commercial Space in Queens

      Mixed-use property with office, warehouse, loading dock, and parking.
      5858 Laurel Hill Blvd, Queens, NY 11377
      View Details
    • $2,500/Mo
      1,600 SF

      Flushing Commercial Space for Rent

      Spacious 1,600 sq ft lower-level space in prime Flushing location.
      131-48 40th Rd Lower Level, Queens, NY 11355
      View Details
    • $12 SF/Yr
      13,123 SF

      Flushing Mixed-Use Building For Sale

      Six-story mixed-use building in prime Flushing location, built in 2017.
      135-20 41ST Ave 5th FL, Queens, NY 11354
      View Details
    • $2,500/Mo
      1,000 SF

      Flushing Commercial Space For Rent

      1,000 SF commercial space in Downtown Flushing.
      131-04 40th Rd 2FL, Queens, NY 11354
      View Details
    • $66 SF/Yr
      1,202 SF

      Prime Retail Corner Space Available

      New construction retail space in high-traffic location.
      31-16 21st St S1A, Queens, NY 11106
      View Details

    FAQs

    Where is this medical office space located?
    The property is located at 168-30 89th Ave Queens, NY.
    What is the lease rate?
    The lease rate is $50 SF/Yr.
    What are key features of this property?
    This property features: 3,500 sq ft medical/office building in Jamaica, Queens; Currently licensed for health care facility use; Excellent transportation access near F‑train, multiple bus lines, and JFK Airport
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Christos Lolis
    Real Estate License ID: 10991229709
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    168-30 89th Ave, Queens, NY 11432
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!