Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    41-16 Jct Blvd Queens, NY 11368
    Back to Search
    Property profile & analytics

    41-16 Jct Blvd, Queens, NY 11368

    View on Map
    • Specialty properties
    • 2,484 SF
    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 41-16 Jct Blvd

    Property type
    Specialty properties
    Property subtype
    Medical Office Space

    Description

    This exceptional 2,484 square foot medical office space is located at 41-16 Junction Boulevard in Elmhurst, Queens, New York, 11368. The property is currently configured as a single-tenant space, previously used for dentistry, and offers immediate occupancy. The building features three separate rooms, plus dedicated space for a receptionist and laboratory area. A total of 550 square feet is currently vacant, offering flexibility for expansion or customization. The building's convenient location on Junction Boulevard places it just three blocks from Roosevelt Avenue and the 7 train, ensuring excellent accessibility for both patients and staff. The space has undergone recent renovations. The current tenant is responsible for 50% of the utilities. While previously used for dentistry, the space is open to other medical uses, excluding podiatry, which occupies the remaining three rooms. This presents a unique opportunity for a medical professional seeking a well-located, move-in ready office space in a thriving Queens neighborhood.

    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
    -73.8687
    Latitude
    40.747

    Comparable in this City

    • Value Estimation by Request
      1,900 SF

      112-45 Roosevelt Ave

      Restaurants
      112-45 Roosevelt Ave, Queens, NY 11368
      View Details
    • Value Estimation by Request

      97-18 Roosevelt Ave

      Office Units
      97-18 Roosevelt Ave, Queens, NY 11368
      View Details
    • Value Estimation by Request

      103-24 Corona Ave

      Medical Office Space
      103-24 Corona Ave, Queens, NY 11368
      View Details
    • Value Estimation by Request
      4,000 SF

      35-38 Jct Blvd

      Restaurants
      35-38 Jct Blvd, Queens, NY 11368
      View Details
    • Value Estimation by Request

      101-09 Northern Blvd

      Medical Office Space
      101-09 Northern Blvd, Queens, NY 11368
      View Details
    • Value Estimation by Request
      6,708 SF

      3794 103rd St

      FUNERAL HOME
      3794 103rd St, Flushing, NY 11368-1953
      View Details

    Similar Nearby for Sale

    • $5,000,000

      Two-Building Package Deal in Corona

      Two buildings with parking in high-demand Queens location.
      10219 44Th Ave, Queens, NY 11368
      View Details
    • $2,390,000
      0.06 Acres

      Four-Story Brick Walk-Up Building

      Four-story building in Corona with stable income and high occupancy.
      38-19 99Th St, Corona, NY 11368
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Commercial Space for Rent

      Commercial space available for rent in Queens County.
      9718 Roosevelt Ave, Corona, NY 11368
      View Details
    • Contact for pricing

      Retail Space in LeFrak City

      Retail opportunity at the base of a large residential complex.
      57-02 99Th St, Corona, NY 11368
      View Details
    • Contact for pricing

      Queens Commercial Space For Lease

      Commercial space available for lease in Queens, New York.
      35-38 Junction Blvd, Queens, NY 11368
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    41-16 Jct Blvd
    Queens, NY 11368
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    41-16 Jct Blvd, Queens, NY, 11368
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!