Office Unit for
For Sale
$489,888
92-29 Queens Boulevard CU7, Rego Park, NY 11374
Office unit CU7 available for sale in Queens, positioned between major roadways for straightforward access.
Property Size792 SF
Days on Market92
Property Features for 92-29 Queens Boulevard CU7
General Information
Standard status
Active
Size
792 SF
Taxes and HOA fees
Annual Taxes
$13,547
Amenities
Central Air
Baseboard, Natural Gas
On Street
Building Details
Building Size
792 SF
Year Built
1986
Buildings
1
Stories
13
Listing Agency:
Laffey International Realt Estate
(646) 474-6489
Listed By:
Boris Isakharov
(646) 474-6489
Source:
Evrealestate
Added: May 14
Changed: Aug 8
Last Checked: Aug 13 at 4:38AM
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 Laffey International Realt Estate
Investment Insights
Based on property information with market context.
This offering is for office unit CU7 at 92-29 Queens Boulevard. It presents as a dedicated office suite within a commercial setting, suited to professional use where a private, self-contained work space is desired. The transaction is listed for sale.
The property is located in Queens County, NY, with directions indicating it sits between the Horace Harding Expressway and 62nd Avenue. The Queens Boulevard frontage provides direct connectivity to the surrounding roadway network.
For tenants or owner-operators, this type of space typically supports a range of office-based businesses that require a dedicated suite environment. The availability of a specific office unit can be useful for professionals planning for continuity of location while operating from a private interior space. As presented, prospective buyers should verify suite configuration and any building requirements as part of their due diligence, including access and occupancy terms applicable to CU7.
The property is located in Queens County, NY, with directions indicating it sits between the Horace Harding Expressway and 62nd Avenue. The Queens Boulevard frontage provides direct connectivity to the surrounding roadway network.
For tenants or owner-operators, this type of space typically supports a range of office-based businesses that require a dedicated suite environment. The availability of a specific office unit can be useful for professionals planning for continuity of location while operating from a private interior space. As presented, prospective buyers should verify suite configuration and any building requirements as part of their due diligence, including access and occupancy terms applicable to CU7.
Key Highlights
- Office unit CU7 available for sale in Queens (Queens County).
- Year built: 1986.
- Central air conditioning.
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
$26,076
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
5.32%
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%
$521,520
$521.5K
Cap Rate 7%
$372,514
$372.5K
Cap Rate 9%
$289,733
$289.7K
Market Conditions
NOI Build-Up for 792 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
$39.9K $50.40/SF
− Vacancy
−$5.1K −$6.50/SF
EGI
$34.8K $43.90/SF
− OpEx
−$8.7K −$10.97/SF
NOI
$26.1K $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%
$521,520
Cap Rate 7%
$372,514
Cap Rate 9%
$289,733
Alternative Uses
Best Use
Office B
$372.5K
$326.0K – $434.6K
NOI $26,076 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$583.9K
$510.9K – $681.2K
NOI $40,871 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
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 - Office unit CU7 available for sale in Queens, positioned between major roadways for straightforward access.
Where is this office units located?
The property is located at 92-29 Queens Boulevard CU7 Rego Park, NY.
What is the asking price?
The asking price for this property is $489,888.
What are key features of this property?
This property features: Office unit CU7 available for sale in Queens (Queens County).; Year built: 1986.; Central air conditioning.
