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    41-42 College Pt Blvd Queens, NY 11355
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    41-42 College Pt Blvd Queens, NY 11355

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    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 41-42 College Pt Blvd

    Year built
    2014
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 1,570 square foot medical office space, located at 41-42 College Point Blvd, Unit 2A, Queens, NY 11355, presents a unique investment opportunity. Built in 2014, this modern space is situated in the heart of Flushing, offering convenient access to public transportation including the Q58 bus, 7 train, and the Flushing-Main Street LIRR station. The property boasts contemporary finishes and a convenient elevator, creating a professional and comfortable environment. Its strategic location near SkyView Center provides easy access to a variety of shops and restaurants. The sale includes one dedicated parking space, a significant advantage in this bustling area, incorporated into the monthly common charge of $541.12. Annual property taxes are $14,624.08. The property is zoned R6 and offers a cost-effective investment opportunity in a high-demand location. This versatile space is ideal for a variety of professional uses, making it an attractive option for both established and emerging businesses. The asking price is $1,480,000.

    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
    -73.8335
    Latitude
    40.755

    Comparable in this City

    • Value Estimation by Request
      1,482 SF

      133-20 41St St

      Medical Office Space • 1,482 SF
      133-20 41St St, Queens, NY 11355
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    • Value Estimation by Request
      6,979 SF

      41-13 149 Pl

      Medical Office Space • 6,979 SF
      41-13 149 Pl, Queens, NY 11355
      View Details
    • Value Estimation by Request
      1,570 SF

      41-42 College Pt Blvd

      Medical Office Space • 1,570 SF
      41-42 College Pt Blvd, Queens, NY 11355
      View Details
    • Value Estimation by Request
      645 SF

      132-59 41St St

      Medical Office Space • 645 SF
      132-59 41St St, Queens, NY 11355
      View Details
    • Value Estimation by Request
      1,596 SF

      13646 41St Ave

      Medical Office Space • 1,596 SF
      13646 41St Ave, Queens, NY 11355
      View Details
    • Value Estimation
      $1,040,000
      47,500 SF

      14040 Sanford Ave

      MEDICAL CLINIC • 47,500 SF
      14040 Sanford Ave, Flushing, NY 11355-2556
      View Details

    Similar Nearby for Sale

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      Medical Office in Downtown Flushing

      Medical office space for sale in downtown Flushing, New York.
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      Flushing Mixed-Use Building For Sale

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      1,277 SF

      Flushing Commercial Unit For Sale

      Commercial unit near transportation, suitable for office or investment.
      13646 41St Ave, Flushing, NY 11355
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    Similar Nearby for Lease

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      Flushing Retail Space For Lease

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      Flushing Retail/Medical Space for Lease

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    • Contact for pricing

      Flushing Commercial Space For Lease

      Prime commercial space in Flushing, suitable for various professional uses.
      13621 41St Ave, Queens, NY 11355
      View Details
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    Queens, NY 11355
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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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