Ground-Floor Office
For Sale
$2,700,000
C1-132 41st Ave, Flushing, NY 11377
Newly constructed condominium unit with elevator access, multiple entrances, and street-facing exposure across two levels.
Property Size3,112 SF
Price / SF$867.61
Days on Market397
Property Features for C1-132 41st Ave
General Information
Standard status
Active
Size
3,112 SF
Elevators
Yes
Financials
HOA Fee
$1,200
Opportunity Zone
No
Additional Details
Floor
Ground Floor, Basement
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,695
Amenities
three separate entrances
restroom facilities
Listing Agency:
Chase Global Realty Corp
(718) 355-8788
Listed By:
Wei Lin · License #10301217764
(718) 355-8788
Source:
Exprealty
Added: Jul 30, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:01AM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This office unit occupies the ground floor and basement of a newly constructed condominium building, with 3,112 square feet arranged across both levels. The property includes three separate entrances, restroom facilities on each floor, elevator access, and a minimum ground-floor ceiling height of 13 feet. The configuration is identified as suitable for senior care, medical, educational, nonprofit, professional, healthcare, and community-based services.
The property is located at C1-132 41st Ave in Flushing, near the Main Street library, Skyview Shopping Center, and the Chinatown commuter bus terminal. Multiple subway lines and local and express bus routes are nearby, with restaurants, supermarkets, and retail corridors surrounding the property. Street frontage provides direct exposure along an active pedestrian retail setting.
The property is located at C1-132 41st Ave in Flushing, near the Main Street library, Skyview Shopping Center, and the Chinatown commuter bus terminal. Multiple subway lines and local and express bus routes are nearby, with restaurants, supermarkets, and retail corridors surrounding the property. Street frontage provides direct exposure along an active pedestrian retail setting.
Key Highlights
- 3,112 square feet across ground‑floor and basement levels
- Minimum 13‑foot ground‑floor ceiling height
- Three separate entrances plus elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,459
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,049,180
$2.0M
Cap Rate 7%
$1,463,700
$1.5M
Cap Rate 9%
$1,138,433
$1.1M
Market Conditions
NOI Build-Up for 3,112 SF
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.
Gross rent
$156.8K $50.40/SF
− Vacancy
−$20.2K −$6.50/SF
EGI
$136.6K $43.90/SF
− OpEx
−$34.2K −$10.97/SF
NOI
$102.5K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,049,180
Cap Rate 7%
$1,463,700
Cap Rate 9%
$1,138,433
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,459 @ 7.0% cap · market cap 3.79%
Second Best
Healthcare Medical
$1.03M
$897.0K – $1.20M
NOI $71,756 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,594 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,752
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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?
Office units - Newly constructed condominium unit with elevator access, multiple entrances, and street-facing exposure across two levels.
Where is this office units located?
The property is located at C1-132 41st Ave Flushing, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 3,112 square feet across ground‑floor and basement levels; Minimum 13‑foot ground‑floor ceiling height; Three separate entrances plus elevator access
