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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    87-80 Parsons Blvd Queens, NY 11432

    • Office Properties & Spaces
    • 1,500 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 87-80 Parsons Blvd

    Property size
    1,500 SF
    Property type
    Office Properties & Spaces

    Description

    This exceptional 1,500-square-foot Class A executive office suite is available for lease in Jamaica, Queens County. Located on the third floor of a building, this single-tenant space boasts pristine condition and recent upgrades. The suite features ceramic flooring throughout, two private bathrooms, a welcoming waiting area, a dedicated reception area, and a fully equipped kitchen with stainless steel appliances, including a dishwasher. Four separate offices provide ample space for individual work or team collaboration. The space is further enhanced by a central heating and cooling system, a security surveillance system, and convenient washer and dryer hookups. All utilities are included in the lease, excluding electricity. Its convenient location offers easy access to the F subway line, making commuting a breeze. This move-in ready space is perfect for a business seeking a sophisticated and functional workspace in a vibrant location. The building is well-maintained and offers a professional atmosphere. This is a rare opportunity to secure a high-quality, fully equipped office suite in a desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.8027
    Latitude
    40.7071

    Comparable in this City

    • Value Estimation
      $315,000
      853 SF

      18016 Wexford Ter

      OFFICE (GENERAL) • 853 SF
      18016 Wexford Ter, Jamaica, NY 11432-3000
      View Details
    • Value Estimation
      $300,000
      743 SF

      18016 Wexford Ter Ste Cc

      OFFICE (GENERAL) • 743 SF
      18016 Wexford Ter Ste Cc, Jamaica, NY 11432-3004
      View Details
    • Value Estimation
      $1,860,000
      1,067 SF

      17836 Wexford Ter, Unit 2C

      OFFICE (GENERAL) • 1,067 SF
      17836 Wexford Ter, Jamaica, NY 11432-3028
      View Details
    • Value Estimation
      $575,000
      6,013 SF

      8820 Parsons Blvd, Unit C1

      OFFICE (GENERAL) • 6,013 SF
      8820 Parsons Blvd, Jamaica, NY 11432-3976
      View Details
    • Value Estimation
      $400,000
      3,161 SF

      8712 175th St2a

      OFFICE (GENERAL) • 3,161 SF
      8712 175th St2a, Jamaica, NY 11432-5776
      View Details
    • Value Estimation by Request
      30,000 SF

      80-15 164 St

      Medical offices • 30,000 SF
      80-15 164 St, Queens, NY 11432
      View Details

    Similar Nearby for Sale

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      Queens Office Building Investment

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    • $7,250,000
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      Mixed-Use Building in Jamaica, NY

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      Mixed-use property with medical office and apartments near transportation.
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    • $12,900,000
      0.08 Acres

      Medical Building Near NYU Langone

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    • $3,500,000

      Jamaica Two-Family Home with Office

      Two-family home with doctor's office in basement, convenient location.
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      Mixed-Use Property Near Hillside Avenue

      Mixed-use property with medical office and apartments near transportation.
      182-34 Hillside Ave, Jamaica, NY 11432
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    Similar Nearby for Lease

    • $19,792 /Mo
      9,500 SF

      Versatile Space in Jamaica, NY

      9,500 sq ft space in a vibrant, growing neighborhood.
      89-48 164Th St, Jamaica, NY 11432
      View Details
    • Contact for pricing
      5,000 SF

      Jamaica Ave Retail/Office Space

      Prime Queens location, 5,000 sq ft available.
      162-24 Jamaica Ave, Jamaica, NY 11432
      View Details
    • Contact for pricing
      4,870 SF

      Prime Queens Medical Office Space

      1-Story Medical Office, 4,870 SF Available
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    • $50 SF/Yr
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      Heron Medical Office Building

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    • $5,500 /Mo
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      Jamaica Office Space For Rent

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      View Details
    • $7,500 /Mo

      Furnished Office Space for Lease

      Furnished office space available for lease, move-in ready.
      153-10 88Th Ave, Jamaica, NY 11432
      View Details
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    87-80 Parsons Blvd
    Queens, NY 11432
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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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