Medical Office Suite with Two
New
For Sale
$939,000
94-18 59th Avenue #E3, Elmhurst, NY 11373
Ground-floor space currently configured for a dental practice, with transit and retail destinations nearby.
Property Size1,850 SF
Price / SF$507.57
Days on Market2
Property Features for 94-18 59th Avenue #E3
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Commercial
Additional Details
Floor
Ground Floor
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$22,400
Building Details
Building Size
1,850 SF
Year Built
1964
Buildings
1
Units
1
Listing Agency:
LAFFEY REAL ESTATE
Listed By:
Armen H. Caprielian · License #1061204
(516) 625-0944
Source:
Moreandmorerealestate
Added: Nov 1
Last Checked: Nov 1 at 3:57PM
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 REAL ESTATE
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Investment Insights
Based on property information with market context.
This 1,850-square-foot ground-level medical office unit has two separate entrances and is currently set up as a dental practice. The building dates to 1964. The unit is within a stock cooperative building.
In Elmhurst, the property is minutes from subway service and several bus lines. The surrounding area includes residential and commercial buildings, with Queens Center Mall and Queens Place Mall nearby.
In Elmhurst, the property is minutes from subway service and several bus lines. The surrounding area includes residential and commercial buildings, with Queens Center Mall and Queens Place Mall nearby.
Key Highlights
- 1,850‑square‑foot ground‑level medical office unit
- Two separate entrances
- Currently configured as a dental practice
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,909
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,218,180
$1.2M
Cap Rate 7%
$870,129
$870.1K
Cap Rate 9%
$676,767
$676.8K
Market Conditions
NOI Build-Up for 1,850 SF
Gross rent
$93.2K $50.40/SF
− Vacancy
−$12.0K −$6.50/SF
EGI
$81.2K $43.90/SF
− OpEx
−$20.3K −$10.97/SF
NOI
$60.9K $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 Rate 5%
$1,218,180
Cap Rate 7%
$870,129
Cap Rate 9%
$676,767
Alternative Uses
Best Use
Office B
$870.1K
$761.4K – $1.02M
NOI $60,909 @ 7.0% cap · market cap 6.49%
Second Best
Healthcare Medical
$609.4K
$533.2K – $711.0K
NOI $42,657 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,469 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,387
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground-floor space currently configured for a dental practice, with transit and retail destinations nearby.
Where is this medical office space located?
The property is located at 94-18 59th Avenue #E3 Elmhurst, NY.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: 1,850‑square‑foot ground‑level medical office unit; Two separate entrances; Currently configured as a dental practice
