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    39-20 214 Pl Queens, NY 11361
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    39-20 214 Pl Queens, NY 11361

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    • Retail properties & Spaces
    • 3,228 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 39-20 214 Pl

    Property size
    3,228 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 3,228-square-foot executive office space represents a unique opportunity in the thriving Bayside community. Located just steps from the Bayside Long Island Rail Road station and Bell Boulevard, this new construction property offers unparalleled convenience and visibility. The space is configured as a single-tenant occupancy across two floors – ground level and cellar – providing ample room for a variety of uses. Each floor boasts its own ADA-compliant bathroom, and a private in-unit elevator ensures easy accessibility for all. An outdoor space is also included, adding to the property's versatility. Ideal for businesses seeking a high-profile location, this space is perfectly suited for medical offices, after-school programs, or daycare centers. Parking is available for lease, and the property's proximity to a large municipal surface parking lot further enhances its appeal. The strategic location near Northern Boulevard, the Clearview Expressway, and the Cross Island Parkway ensures high visibility and excellent access for clients and employees. This is a rare opportunity to establish a presence in a vibrant, high-traffic area with a strong mix of local and national businesses. The property's modern design and convenient amenities make it an exceptional choice for discerning businesses seeking a premium location in Queens County.

    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
    -73.77
    Latitude
    40.7649

    Comparable in this City

    • Value Estimation by Request
      4,770 SF

      215-16 Northern Blvd

      Medical Office Space • 4,770 SF
      215-16 Northern Blvd, Queens, NY 11361
      View Details
    • Value Estimation by Request
      5,675 SF

      214-33 41St Ave

      Medical Office Space • 5,675 SF
      214-33 41St Ave, Bayside, NY 11361
      View Details
    • Value Estimation by Request
      19,900 SF

      39-14 Bell Blvd

      Restaurants • 19,900 SF
      39-14 Bell Blvd, Queens, NY 11361
      View Details
    • Value Estimation by Request
      0.75 Acres

      214-43 39Th Ave

      Land • 6,442 SF
      214-43 39Th Ave, Queens, NY 11361
      View Details
    • Value Estimation by Request

      2nd Floor Office/Medical Space On Bell Blvd

      Office Spaces
      2nd Floor Office/Medical Space On Bell Blvd, Queens, NY 11361
      View Details
    • Value Estimation by Request
      13,435 SF

      38-50 Bell Blvd

      Office Spaces • 13,435 SF
      38-50 Bell Blvd, Queens, NY 11361
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,283 SF

      Bayside Commercial Property For Sale

      Long-term ground lease with strong income and redevelopment potential.
      3806 Bell Blvd, Bayside, NY 11361
      View Details
    • Contact for pricing

      Prime Bayside Location Parking

      High-traffic Bayside location near LIRR with parking and office.
      21425 42Nd Ave, Bayside, NY 11361
      View Details
    • $12,990,000
      5,000 SF

      Bayside Prime Location Opportunity

      Prime Bayside location with high foot traffic and income potential.
      214-25 42Nd Ave, Bayside, NY 11361
      View Details

    Similar Nearby for Lease

    • $180,000
      3,000 SF

      Commercial Building For Lease

      Commercial Building For Sale
      205-05 35 Ave, Queens, NY 11361
      View Details
    • $8,500 /Mo

      Versatile Commercial Space in Bayside

      Turnkey retail or professional space with private rooms and basement.
      202-28 45Th Ave, Bayside, NY 11361
      View Details
    • $2,200 /Mo

      Prime Bayside Mixed-Use Space

      Ground floor space in prime Bayside location, ready for occupancy.
      42-22 213Th St, Bayside, NY 11361
      View Details
    • Contact for pricing

      Second Floor Office Space

      Second floor office space featuring multiple offices and open area.
      38-50 Bell Blvd, Queens, NY 11361
      View Details
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    Queens, NY 11361
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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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