Medical Office Suite with Meeting
For Sale
Contact for pricing
98-120 Queens Boulevard 1F, Rego Park, NY 11374
First-floor suite in a renovated co-op building with six separate meeting or patient rooms and an updated bathroom.
Property Size877 SF
Price / SF$342.08
Days on Market10
Property Features for 98-120 Queens Boulevard 1F
General Information
Standard status
Active
Size
877 SF
Property subtype
Office
Additional Details
Floor
1
Public Transit
Yes
Building Details
Year Built
1939
Listing Agency:
Corcoran
(415) 420-2438
Listed By:
Henze Marvin · License #10401251103
Source:
Crexi
Added: Jul 23
Changed: Jul 30
Last Checked: Jul 30 at 12:16PM
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
Investment Insights
Based on property information with market context.
Sprawling, turn-key medical office suite built out with six separate meeting/patient rooms and a large updated bathroom. The suite is currently configured for office use, with the option to convert back to residential use. Located on the first floor of a renovated co-op building, it offers direct access to Queens Blvd. Heat and hot water are included.
The suite is centrally located in Rego Park. Surrounding conveniences include a Mount Sinai building across the street, a 24-hour CVS on the corner, and nearby delis and shops. Public transit access is described as including a bus stop on the block and being only 1/2 block to the M/R train at 67th Ave.
Built in 1939, this space is positioned for medical, dental, and therapy office use or a small business, with the noted possibility of growth. Heat and hot water inclusion may help support day-to-day operating needs.
The suite is centrally located in Rego Park. Surrounding conveniences include a Mount Sinai building across the street, a 24-hour CVS on the corner, and nearby delis and shops. Public transit access is described as including a bus stop on the block and being only 1/2 block to the M/R train at 67th Ave.
Built in 1939, this space is positioned for medical, dental, and therapy office use or a small business, with the noted possibility of growth. Heat and hot water inclusion may help support day-to-day operating needs.
Key Highlights
- Six separate meeting/patient rooms in a built‑out medical office suite
- Large updated bathroom
- First‑floor suite in a renovated co‑op building with direct access to Queens Blvd
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
Current Use
Location Intelligence
Trade Area within ½ mile
3,847
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor suite in a renovated co-op building with six separate meeting or patient rooms and an updated bathroom.
Where is this medical office space located?
The property is located at 98-120 Queens Boulevard 1F Rego Park, 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: Six separate meeting/patient rooms in a built‑out medical office suite; Large updated bathroom; First‑floor suite in a renovated co‑op building with direct access to Queens Blvd
