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Medical Building | New leases 23-22 30th Ave 9,540 SF 32% Leased Office Building Astoria, NY 11102 $9,071,530 CAD ($950.89 CAD/SF) 7.53% Cap Rate
Investment Highlights
- Fully leased to Mount Sinai Hospital and Motion PT on long-term agreements.
- Located in a densely populated medical corridor one block from Mount Sinai Queens.
- Stable 7.53% in-place cap rate with institutional-grade tenancy.
- Extensive renovations completed in 2023, including roof and façade upgrades.
- Steps from N/W subway lines and 15-minute transit to Midtown Manhattan.
- Property includes advanced medical infrastructure, including a built-out MRI suite.
Executive Summary
Cushman & Wakefield has been exclusively retained to offer for sale 23-22 30th Avenue, Astoria, NY 11102 — a two-story, 9,540 SF medical office building 100% occupied by two institutional-grade tenants: Mount Sinai Hospital and Motion PT Group. Mount Sinai Hospital anchors the lower level and ground floor under a modified gross lease with two renewal options that could extend the tenancy by up to 10 additional years. The second floor is occupied by Motion PT Group — a member of Mount Sinai's Trusted Rehab Network operating across 60 locations in four states — under a modified gross lease with an additional renewal option. Together, these leases deliver a long-duration, low-management income stream for investors.
Located one block from Mount Sinai Hospital in one of Astoria's most medically dense corridors, the property underwent a comprehensive renovation in 2023 — including a new roof, façade, and canopy — substantially reducing deferred maintenance risk and near-term capital requirements. The property is offered at $6,500,000, reflecting a current NOI of approximately $489,161 and an in-place cap rate of 7.5%.
Please direct all inquiries to Cushman & Wakefield.
Located one block from Mount Sinai Hospital in one of Astoria's most medically dense corridors, the property underwent a comprehensive renovation in 2023 — including a new roof, façade, and canopy — substantially reducing deferred maintenance risk and near-term capital requirements. The property is offered at $6,500,000, reflecting a current NOI of approximately $489,161 and an in-place cap rate of 7.5%.
Please direct all inquiries to Cushman & Wakefield.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
9,540 SF
Building Class
B
Year Built/Renovated
1930/2003
Price
$9,071,530 CAD
Price Per SF
$950.89 CAD
Cap Rate
7.53%
NOI
$683,086 CAD
Percent Leased
32%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,250 SF
Building FAR
1.83
Lot Size
0.12 AC
Zoning
R6A, R6B - Centrally located in the Astoria neighborhood of Queens between 23rd St and Crescent St near the 30th Ave train station with plenty of street parking
Amenities
- Direct Elevator Exposure
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Lower Level Includes Additional Medical Rooms, Utility Areas, and Support Space.
Turnkey 2nd Generation Medical Facility Built Out to Hospital Standards Across 2 Floors
| Space | Size | Space Use | Build-Out | Available |
| Basement | 3,000 SF | Office/Medical | Full Build-Out | Now |
| 1st Floor | 3,500 SF | Office/Medical | Full Build-Out | Now |
Basement
| Size |
| 3,000 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1st Floor
| Size |
| 3,500 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Basement
| Size | 3,000 SF |
| Space Use | Office/Medical |
| Build-Out | Full Build-Out |
| Available | Now |
Lower Level Includes Additional Medical Rooms, Utility Areas, and Support Space.
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 3,500 SF |
| Space Use | Office/Medical |
| Build-Out | Full Build-Out |
| Available | Now |
Turnkey 2nd Generation Medical Facility Built Out to Hospital Standards Across 2 Floors
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 00572-0035 | Improvements Assessment | $1,103,321 CAD |
| Land Assessment | $160,147 CAD | Total Assessment | $1,263,469 CAD |
Property Taxes
Parcel Number
00572-0035
Land Assessment
$160,147 CAD
Improvements Assessment
$1,103,321 CAD
Total Assessment
$1,263,469 CAD
Contacts
-
Kieran Baker -
Dylan Walsh -
Nick Kolbus -
Dimitri Venekas -
Charles Everett -
Jeremy Stern -
Cushman & Wakefield
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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Medical Building | New leases | 23-22 30th Ave
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