Street-Level Medical Office
For Sale
$350,000
98-120 Queens Boulevard Unit 1B, Rego Park, NY 11374
Renovated, networked professional space with central air, accessible entry, and a flexible office or healthcare layout.
Property Size1,000 SF
Price / SF$350
Days on Market53
Property Features for 98-120 Queens Boulevard Unit 1B
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
Ground Floor
Amenities
central air
cameras
intercoms
workstations
storage closets
eat-in kitchen
large baths
ADA accessible
Building Details
Building Size
1,000 SF
Tenancy
Multi
Listing Agency:
Metro Garden Realty Inc
Listed By:
Roger Mashihi
(347) 489-6828
Source:
Barbieliteam
Added: Sep 15
Changed: Nov 5
Last Checked: Nov 4 at 9:42PM
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 Metro Garden Realty Inc
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Investment Insights
Based on property information with market context.
This 1,000-square-foot medical office space occupies a street-level position in a prewar building and has been renovated for professional use. The current plan includes five private offices or exam rooms, a reception and waiting area, a bathroom with a window, an eat-in kitchen, storage closets, and central air. The space is fully networked and wired, with cameras, intercoms, and workstations in place. Optional furnishings are available, and the property is ADA accessible.
The office is located at 98-120 Queens Boulevard in Rego Park, at a signalized intersection within a busy commercial district. The R/M subway station is immediately accessible at the corner, with local and express bus service nearby. Grand Central Parkway, the L.I.E., and the Van Wyck Expressway are minutes away. Common charges cover property taxes, building maintenance, trash removal, heat, and hot and cold water.
The office is located at 98-120 Queens Boulevard in Rego Park, at a signalized intersection within a busy commercial district. The R/M subway station is immediately accessible at the corner, with local and express bus service nearby. Grand Central Parkway, the L.I.E., and the Van Wyck Expressway are minutes away. Common charges cover property taxes, building maintenance, trash removal, heat, and hot and cold water.
Key Highlights
- 1000sqft street‑level medical office space
- Five private offices or exam rooms plus reception and waiting areas
- Renovated interior with central air, network wiring, cameras, intercoms, and workstations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,058
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,160
$461.2K
Cap Rate 7%
$329,400
$329.4K
Cap Rate 9%
$256,200
$256.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$42.0K $42.00/SF
− Vacancy
−$3.6K −$3.57/SF
EGI
$38.4K $38.43/SF
− OpEx
−$15.4K −$15.37/SF
NOI
$23.1K $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%
$461,160
Cap Rate 7%
$329,400
Cap Rate 9%
$256,200
Alternative Uses
Best Use
Office B
$470.3K
$411.6K – $548.7K
NOI $32,924 @ 7.0% cap · market cap 9.41%
Second Best
Healthcare Medical
$329.4K
$288.2K – $384.3K
NOI $23,058 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$737.2K
$645.1K – $860.1K
NOI $51,605 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
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
$484,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Queens County, NY
Properties on Market for Medical Office Space in Queens County
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated, networked professional space with central air, accessible entry, and a flexible office or healthcare layout.
Where is this medical office space located?
The property is located at 98-120 Queens Boulevard Unit 1B Rego Park, 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: 1000sqft street‑level medical office space; Five private offices or exam rooms plus reception and waiting areas; Renovated interior with central air, network wiring, cameras, intercoms, and workstations
