Turn-Key Medical Office
98120 QUEENS BLVD Unit 98-120 Flushing, NY 11374
98120 QUEENS BLVD Unit 98-120, Flushing, NY, 11374
$350,000
For Sale
$350,000
Renovated first-floor office suite with five meeting/patient rooms, central kitchen, and individual split-system AC.
Property Size846 SF
Price / SF$413.71
Days on Market197
Property Features for 98120 QUEENS BLVD Unit 98-120
General Information
- Standard status
- Active
- Size
- 846 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1939
Listing agency
Corcoran Group
(212) 355-3550
Listed by
Henze Marvin · License #10401251103
(415) 420-2438
Source
Xome
Added: Jan 6 Updated: Jul 21 at 6:06PM Checked: Jul 22 at 3:34AM
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 Group
Investment Insights
Based on property information with market context.
Meticulously renovated, turn-key office suite offering five separate meeting/patient rooms, a central kitchen, and a large renovated bathroom. The suite also includes individual split system AC units for each room. Currently built out as office space, the property could be converted back to residential apartment use if desired. Heat and hot water are included.
Located on the first floor of an updated co-op building with direct access to Queens Blvd. The area is centrally positioned in Rego Park, with nearby Forrest Hills and Flushing for ongoing business activity and customer convenience.
The layout is designed for professional use, with dedicated room separation and a common kitchen area, supporting a variety of small-office and medical-adjacent workflows within a single suite.
Located on the first floor of an updated co-op building with direct access to Queens Blvd. The area is centrally positioned in Rego Park, with nearby Forrest Hills and Flushing for ongoing business activity and customer convenience.
The layout is designed for professional use, with dedicated room separation and a common kitchen area, supporting a variety of small-office and medical-adjacent workflows within a single suite.
Key Highlights
- Renovated first‑floor office suite in an updated co‑op building
- Built with five separate meeting/patient rooms plus a central kitchen
- Large renovated bathroom and high ceilings
Local Financial Insights For Office B
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 | $42.6k | $50.40 |
| − Vacancy | −$5.5k | −$6.50 |
| EGI | $37.1k | $43.90 |
| − OpEx | −$9.3k | −$10.97 |
| NOI | $27.9k | $32.92 |
846 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$397.9K
$348.2K – $464.2K
NOI $27,854 @ 7.0% cap · market cap 7.96%
Second Best
Healthcare Medical
$278.7K
$243.8K – $325.1K
NOI $19,507 @ 7.0% cap · market cap 5.57%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jennifer Mitgang, LCSW
Foster Care Service
Maria Moriarty R.D., ...
Physician
Thomas Conrey, PHD
Physician
Nicola Abbadessa, LCSW
Foster Care Service
Schlossberg Phyllis
Counselor
Similar For Sale Nearby
Similar Off Market Nearby
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- Bond Vets - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Steinway Court Veterinarian hospital — 107-28 71st Rd, Queens, NY 11375
- Bond Vet - Forest Hills — 70-38 Austin St, Forest Hills, NY 11375
- Veterinary Medical & Surgical — 6615 Woodhaven Blvd, Flushing, NY 11374
FAQs
What type of property is this?
Medical Office Space - Renovated first-floor office suite with five meeting/patient rooms, central kitchen, and individual split-system AC.
Where is this medical office space located?
The property is located at 98120 QUEENS BLVD Unit 98-120 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: Renovated first‑floor office suite in an updated co‑op building; Built with five separate meeting/patient rooms plus a central kitchen; Large renovated bathroom and high ceilings
