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    1111 Astoria Blvd Queens, NY 11102

    Sponsored
    For Sale
    $6,900,000

    High-Yield Medical Office Investment

    Property size:
    9,540 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional two-story medical office building in Queens, NY, presents a compelling investment opportunity. Located at 1111 Astoria Blvd, zip code 11102, this Class C property boasts a total of 9,540 square feet, currently housing two tenants across multiple units. The building enjoys 100% occupancy with leases structured on a Net, Net, Net (NNN) basis, offering predictable income streams. Lease expirations are staggered, ranging from four to seven years, providing long-term stability and potential for future rent increases. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $493,595 and an attractive 7.00% capitalization rate. The asking price is $6,900,000, translating to a price per square foot of $723.27. This prime location in Queens County offers excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a stable, high-yielding asset in the thriving New York City medical market. The building's solid occupancy and lease terms, coupled with its strong financial metrics, make it a particularly attractive proposition. This is a rare opportunity to acquire a well-maintained, fully occupied medical office building in a desirable location.

    Property Features for 1111 Astoria Blvd

    General Information

    Property type
    Medical offices
    Square Feet
    9,540 SF
    Class
    C

    Building Details

    Stories
    2
    Units
    2

    HighLights

    • Two‑story medical office building in Queens, NY.
    • 9,540 square feet, 100% occupied by two tenants.
    • NNN leases with staggered expirations in 4‑7 years.
    • $493,595 Net Operating Income (NOI).
    • 7% capitalization rate.
    • $6,900,000 asking price ($723.27/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9304918
    Latitude
    40.7722713

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    FAQs

    What type of property is this?
    Medical office - High-Yield Medical Office Investment
    Where is this medical office located?
    The property is located at 1111 Astoria Blvd Queens, NY.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: Two-story medical office building in Queens, NY.; 9,540 square feet, 100% occupied by two tenants.; NNN leases with staggered expirations in 4-7 years.
    Request Owner's contact information
    1111 Astoria Blvd Queens, NY 11102
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    Queens, NY 11102
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    Realmo Value Estimation

    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.

    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.

    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
    1111 Astoria Blvd Queens, NY 11102
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