Turn-Key Office Suite in
For Sale
$300,000
98-120 Queens Boulevard, Queens, NY 11374
First-floor office suite in Rego Park, near transportation and amenities.
Property Size877 SF
Price / SF$342.08
Days on Market468
Property Features for 98-120 Queens Boulevard
General Information
Standard status
Active
Size
877 SF
Building Details
Year Built
1939
Listing Agency:
Brooklyn Heights
(415) 420-2438
Listed By:
Henze Marvin · License #10401251103
Source:
Corcoran
Added: Apr 21, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 Brooklyn Heights
Investment Insights
Based on property information with market context.
This turn-key office suite, totaling 877 square feet, is located on the first floor of a renovated co-op building with direct access to Queens Boulevard. The suite features 6 separate meeting/patient rooms and a large, updated bathroom. The property is centrally located in Rego Park, neighboring Forest Hills and Flushing. The location offers a bus stop on the block, Mount Sinai building across the street, a 24-hour CVS on the corner, and convenient delis and shops. It is also located only half a block from the M/R train at 67th Ave. The suite is currently built out as office space but could be converted back to residential use. It could be suitable for a medical, dental, or therapist's office, or a small business with growth potential. Heat and hot water are included. There is a short-term assessment ending in December 2025 ($283.26).
Key Highlights
- Prime Rego Park location with high foot traffic, near Forest Hills and Flushing, and half a block to the M/R train.
- Turn‑key office suite with 6 rooms, large updated bathroom, ready for immediate use.**
- Potential for expansion with 3 additional units available on the same floor.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.8k | $42.00 |
| − Vacancy | −$3.1k | −$3.57 |
| EGI | $33.7k | $38.43 |
| − OpEx | −$13.5k | −$15.37 |
| NOI | $20.2k | $23.06 |
877 SF · lease $42.00/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$412.5K
$360.9K – $481.2K
NOI $28,874 @ 7.0% cap · market cap 9.62%
Second Best
Healthcare Medical
$288.9K
$252.8K – $337.0K
NOI $20,222 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$646.5K
$565.7K – $754.3K
NOI $45,257 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,347
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor office suite in Rego Park, near transportation and amenities.
Where is this medical office space located?
The property is located at 98-120 Queens Boulevard Queens, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Prime Rego Park location with high foot traffic, near Forest Hills and Flushing, and half a block to the M/R train.; Turn‑key office suite with 6 rooms, large updated bathroom, ready for immediate use.**; Potential for expansion with 3 additional units available on the same floor.
