Medical Office Suite with Six
98-120 Boulevard 1F, Queens, NY 11374
For Sale
$275,000
First-floor space includes an office buildout, an updated bathroom, and the option to return the unit to residential use.
Property Size877 SF
Price / SF$313.57
Days on Market305
Property Features for 98-120 Boulevard 1F
General Information
Standard status
Size
Property subtype
Space & Availability
Floor
Condition
Site & Location
Road Access
Public Transit
Additional Details
Property Use
Building Details
Building Size
Year Built
Abandoned
Listing Agency:
Corcoran Group
Listed By:
Henze L Marvin · License #10401251103
(415) 420-2438
Source:
Irynaferenets
Added: Jan 8
Changed: Nov 7
Last Checked: Nov 7 at 2:49PM
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 Corcoran Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 877-square-foot medical office suite occupies the first floor of a co-op building constructed in 1939. Its current layout has six separate rooms and an updated bathroom. The space is configured for office use, with the possibility of conversion to a residential apartment. Heat and hot water are included in the building’s monthly charges.
The property has direct access to Queens Boulevard. A bus stop is on the block, the Mount Sinai building is across the street, and a CVS is located at the corner. The M and R trains at 67th Avenue are a half-block away. Shops and delis are also nearby.
The property has direct access to Queens Boulevard. A bus stop is on the block, the Mount Sinai building is across the street, and a CVS is located at the corner. The M and R trains at 67th Avenue are a half-block away. Shops and delis are also nearby.
Key Highlights
- 877‑square‑foot suite with six separate rooms
- First‑floor space in a co‑op building built in 1939
- Updated bathroom; current office layout may be converted to residential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,222
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,440
$404.4K
Cap Rate 7%
$288,886
$288.9K
Cap Rate 9%
$224,689
$224.7K
Market Conditions
NOI Build-Up for 877 SF
Gross rent
$36.8K $42.00/SF
− Vacancy
−$3.1K −$3.57/SF
EGI
$33.7K $38.43/SF
− OpEx
−$13.5K −$15.37/SF
NOI
$20.2K $23.06/SF
Area
Queens County, NY
Vacancy
8.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,440
Cap Rate 7%
$288,886
Cap Rate 9%
$224,689
Alternative Uses
Best Use
Office B
$412.5K
$360.9K – $481.2K
NOI $28,874 @ 7.0% cap · market cap 10.50%
Second Best
Healthcare Medical
$288.9K
$252.8K – $337.0K
NOI $20,222 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$646.5K
$565.7K – $754.3K
NOI $45,257 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,009
Businesses Nearby
Under-served
Demand for This Use
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
$484,500
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Queens, NY
Properties on Market for Medical Office Space in Queens
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
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- Austin Veterinary Care — 68-60 Austin St Store #8, Queens, NY 11375
- Andino Julie DVM — 6860 austin st # 8, forest hills, ny 11375
- Veterinary Care Group - Forest Hills — 103-27 Queens Blvd, Forest Hills, NY 11375
Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor space includes an office buildout, an updated bathroom, and the option to return the unit to residential use.
Where is this medical office space located?
The property is located at 98-120 Boulevard 1F Queens, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 877‑square‑foot suite with six separate rooms; First‑floor space in a co‑op building built in 1939; Updated bathroom; current office layout may be converted to residential use
