Ground-Floor Medical Office
P1-14024 31st Dr, Flushing, NY 11369
For Sale
$580,000
A tenant-occupied commercial unit near public transportation, shops, and schools.
Property Size959 SF
Price / SF$604.80
Days on Market13
Property Features for P1-14024 31st Dr
General Information
Standard status
Size
Occupancy
Additional Details
Floor
Gross Income
Public Transit
Office Units
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Owner Occupied
Listing Agency:
Chous Realty Group Inc
(718) 353-8818
Listed By:
Kimberly Park
(212) 844-9794
Source:
Exprealty
Added: Nov 2
Changed: Nov 12
Last Checked: Nov 12 at 2:13PM
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 Chous Realty Group Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 959-square-foot Medical Office Space unit occupies the ground floor and has a Community Facility (CF) designation. The property is currently occupied by a tenant. The building was constructed in 2005, and a parking space may be purchased separately.
Located in Flushing, the unit is close to public transportation, shops, and schools.
Located in Flushing, the unit is close to public transportation, shops, and schools.
Key Highlights
- 959 sqft Community Facility (CF) unit
- Ground‑floor, front‑facing position
- Currently occupied by a tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,574
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,480
$631.5K
Cap Rate 7%
$451,057
$451.1K
Cap Rate 9%
$350,822
$350.8K
Market Conditions
NOI Build-Up for 959 SF
Gross rent
$48.3K $50.40/SF
− Vacancy
−$6.2K −$6.50/SF
EGI
$42.1K $43.90/SF
− OpEx
−$10.5K −$10.97/SF
NOI
$31.6K $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 Rate 5%
$631,480
Cap Rate 7%
$451,057
Cap Rate 9%
$350,822
Alternative Uses
Best Use
Office B
$451.1K
$394.7K – $526.2K
NOI $31,574 @ 7.0% cap · market cap 5.44%
Second Best
Healthcare Medical
$315.9K
$276.4K – $368.6K
NOI $22,113 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$707.0K
$618.6K – $824.8K
NOI $49,489 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,596
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Flushing, NY
Properties on Market for Medical Office Space in Flushing
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A tenant-occupied commercial unit near public transportation, shops, and schools.
Where is this medical office space located?
The property is located at P1-14024 31st Dr Flushing, NY.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 959 sqft Community Facility (CF) unit; Ground‑floor, front‑facing position; Currently occupied by a tenant
