Turn-Key First-Floor Office
For Sale
Contact for pricing
98-120 Queens Boulevard, Flushing, NY 11374
Fully renovated first-floor suite offers five private rooms, a central kitchen, and split-system AC for flexible professional use.
Property Size846 SF
Price / SF$413.71
Days on Market106
Property Features for 98-120 Queens Boulevard
General Information
Standard status
Active
Size
846 SF
Property subtype
Office, Special Purpose
Investment Type
Owner/User
Building Details
Year Built
1939
Units
63
Listing Agency:
Corcoran
Listed By:
Henze Marvin · License #10401251103
(415) 420-2438
Source:
Crexi
Added: Jul 22
Changed: Nov 3
Last Checked: Nov 3 at 4:35AM
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
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Investment Insights
Based on property information with market context.
This fully renovated, turn-key office suite is located on the first floor of a well-maintained co-op building with direct access to Queens Blvd. The space includes five private rooms, a central kitchen, and a large modern bathroom. Each room features its own split-system AC unit, supporting comfortable, independent temperature control for day-to-day office use. Heat and hot water are included, and the building reports low monthly maintenance. The unit is currently configured as office space with the option to convert back to residential.
Situated in Rego Park, the property is positioned for visibility and foot traffic, with Forest Hills and Flushing nearby. The location is across the street from Mount Sinai and steps from a 24-hour CVS, surrounded by new residential developments, retail, and dining.
Public transit is highly accessible, with the M/R subway at 67th Avenue approximately half a block away and a bus stop on the block.
Situated in Rego Park, the property is positioned for visibility and foot traffic, with Forest Hills and Flushing nearby. The location is across the street from Mount Sinai and steps from a 24-hour CVS, surrounded by new residential developments, retail, and dining.
Public transit is highly accessible, with the M/R subway at 67th Avenue approximately half a block away and a bus stop on the block.
Key Highlights
- Fully renovated first‑floor office suite in a well‑maintained co‑op building (built 1939).
- Five private rooms plus a central kitchen and a large modern bathroom.
- Each room has its own split‑system AC unit for individual climate control.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,854
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,080
$557.1K
Cap Rate 7%
$397,914
$397.9K
Cap Rate 9%
$309,489
$309.5K
Market Conditions
NOI Build-Up for 846 SF
Gross rent
$42.6K $50.40/SF
− Vacancy
−$5.5K −$6.50/SF
EGI
$37.1K $43.90/SF
− OpEx
−$9.3K −$10.97/SF
NOI
$27.9K $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%
$557,080
Cap Rate 7%
$397,914
Cap Rate 9%
$309,489
Alternative Uses
Best Use
Office B
$397.9K
$348.2K – $464.2K
NOI $27,854 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$623.7K
$545.7K – $727.6K
NOI $43,658 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Fully renovated first-floor suite offers five private rooms, a central kitchen, and split-system AC for flexible professional use.
Where is this office unit located?
The property is located at 98-120 Queens Boulevard Flushing, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fully renovated first‑floor office suite in a well‑maintained co‑op building (built 1939).; Five private rooms plus a central kitchen and a large modern bathroom.; Each room has its own split‑system AC unit for individual climate control.
