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$313.57
Days on Market104
Property Features for 98-120 Queens Boulevard 1F
General Information
Standard status
Active
Size
877 SF
Property subtype
Office, Retail
Additional Details
Floor
1
Public Transit
Yes
Building Details
Year Built
1939
Stories
6
Units
73
Listing Agency:
Corcoran
Listed By:
Henze Marvin · License #10401251103
(415) 420-2438
Source:
Crexi
Added: Jul 23
Changed: Oct 25
Last Checked: Nov 1 at 2:54AM
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.
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
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
Under-served
Demand for This Use
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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
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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 $275,000.
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
