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    9707 63 Rd Queens, NY 11374
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    9707 63 Rd Queens, NY 11374

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    • Office properties & Spaces

    Property Details for 9707 63 Rd

    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional turnkey medical office space presents a fantastic opportunity for healthcare professionals seeking a fully equipped and conveniently located practice. Situated within the bustling Park City co-op complex in Rego Park, this single-tenant property boasts high foot traffic and excellent visibility, ensuring a strong patient base. The 10+ exam rooms are complemented by a spacious reception area, three bathrooms, a well-appointed kitchen, and ample storage, providing all the necessary amenities for a thriving medical practice. A private street entrance offers convenient access for patients and staff. The space is fully built-out, saving you time and expense on renovations. The building itself is a co-op complex featuring a doorman, adding an extra layer of security and convenience. The presence of air conditioning ensures a comfortable environment year-round. This is a rare opportunity to acquire a fully operational medical office in a prime Rego Park location with all the features needed to immediately commence operations. Don't miss out on this exceptional turnkey solution. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Suffolk
    State
    New York
    Longitude
    -73.8606
    Latitude
    40.7316

    Comparable in this City

    • Value Estimation by Request
      21,689 SF

      98-85 Queens Blvd

      Medical Office Space • 21,689 SF
      98-85 Queens Blvd, Queens, NY 11374
      View Details
    • Value Estimation
      $900,000
      51,723 SF

      6180 Woodhaven Blvd

      MEDICAL CLINIC • 51,723 SF
      6180 Woodhaven Blvd, Flushing, NY 11374-2742
      View Details
    • Value Estimation by Request
      1,062 SF

      9712 63rd Dr

      OFFICE (GENERAL) • 1,062 SF
      9712 63rd Dr, Flushing, NY 11374-2243
      View Details
    • Value Estimation by Request
      723 SF

      9712 63rd Dr Ste 1f

      OFFICE (GENERAL) • 723 SF
      9712 63rd Dr Ste 1f, Flushing, NY 11374-2244
      View Details
    • Value Estimation
      $6,035,000
      12,334 SF

      9729 64th Rd Ste, Unit 1

      CONDOMINIUM OFFICES • 12,334 SF
      9729 64th Rd Ste, Flushing, NY 11374-2240
      View Details
    • Value Estimation by Request
      1,091 SF

      6473 Austin St, Unit M2

      OFFICE (GENERAL) • 1,091 SF
      6473 Austin St, Flushing, NY 11374-4192
      View Details

    Similar Nearby for Sale

    • New
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      1,000 SF

      Rego Park Office Investment Opportunity

      1,000 SF office space in prime Rego Park location.
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      View Details
    • $300,000
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      Turn-Key Office Suite in Queens

      First-floor office suite in Rego Park, near transportation and amenities.
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    • $759,000

      Medical Office in Forest Hills

      Professional medical office for sale in prime Forest Hills location.
      99-45 67Th Rd, Rego Park, NY 11374
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    Similar Nearby for Lease

    • $6,500 /Mo
      114,515 SF

      Modern Medical Office in Rego Park

      2024 SF medical office space for lease in Rego Park.
      64-33 98Th St, Rego Park, NY 11374
      View Details
    • Contact for pricing

      Medical/Office Space For Rent

      Medical/Office space available for rent.
      89-18 63Rd Dr, Queens, NY 11374
      View Details
    • $3,600 /Mo

      Medical Office Space in Rego Park

      960 SF medical office space for lease on Queens Blvd.
      98-17 Queens Blvd, Rego Park, NY 11374
      View Details
    • Contact for pricing
      29,991 SF

      Rego Park Office Space

      Office space available for lease in Rego Park, NY.
      97-77 Queens Blvd, Rego Park, NY 11374
      View Details
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    Queens, NY 11374
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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