Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    142-28 38th Avenue unit Office Flushing, NY 11354

    View on Map
    For Lease
    $7,000 /Mo

    COMMERCIAL - Flushing, NY

    Type:Office
    Added:
    Mar 24, 2025
    Days on Market:
    374
    Last Refresh:
    Apr 1 at 2:06 pm

    Property Features for 142-28 38th Avenue unit Office

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Covered, Garage
    Standard status
    Active

    Taxes and HOA fees

    TaxYear
    2024

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    We can help!

    Listing Contact
    Li Li

    Listing agent Li Li

    Listing office B Square Realty 13620 38th Ave Ste 3E, Flushing, NY

    Listing date Mar 24, 2025

    MLS# 832592

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Office Space in Flushing

    This newly renovated office space provides approximately 1,806 square feet of modern workspace, ready for immediate occupancy. The layout is designed to accommodate professional or medical offices, featuring high-end finishes and a flexible configuration suitable for businesses seeking to establish or expand their presence. Located in a commercial hub in Flushing, the office is near multiple bus lines, the 7-subway train at Roosevelt Avenue, and the Long Island Rail Road (LIRR), specifically the busiest station outside of Manhattan. The property is situated two blocks from Main Street, Flushing Commons, and Queens Crossing, surrounded by restaurants, retail shops, and business establishments. A two-level parking garage is available for lease, offering parking for tenants and visitors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    SH 168 LLC Corporate Office Little Canteen Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.905695
    Latitude
    40.74862

    Nearby Similar for Lease

    • Contact for pricing

      Flushing Mixed-Use Building For Rent

      Prime mixed-use building in Flushing, near transportation and amenities.
      135-20 41ST Avenue unit: 5Th Fl, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Office Condominium For Lease

      Turnkey 1,630 SF office condo in vibrant Flushing location.
      38-25 Main Street unit: 11F, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Community Facility Office Space

      Community facility office space for lease in Flushing, NY.
      147-12 Roosevelt Ave, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Community Facility Space

      Ground-floor community space with open layout and dual entrances.
      142-05 45th Avenue, Flushing, NY 11355
      View Details
    • Contact for pricing

      Flushing Office Space on Main

      Prime office space in the heart of Downtown Flushing.
      36-42 Main Street unit: 4Fl, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Retail/Medical Space for Lease

      Prime retail space in Flushing, ideal for medical or wellness businesses.
      133-24 41ST Road unit: 1Fl, Flushing, NY 11355
      View Details
    • Contact for pricing

      Prime Flushing Commercial Space

      Located in the heart of Downtown Flushing's commercial district.
      39-16 Prince Street unit: 253, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Professional Office Condo

      Spacious office condo in prime Flushing location for lease.
      36-36 Main Street unit: 6N, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Medical Office Space

      Prime location medical office space for rent in Flushing.
      142-01 37th Avenue unit: 1 Fl, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Office Space For Lease

      Prime office spaces in Downtown Flushing, suitable for various uses.
      135-11 40th Road unit: 4A, Flushing, NY 11354
      View Details
    • Contact for pricing

      Flushing Office Space For Lease

      Prime office spaces in Downtown Flushing, suitable for various uses.
      135-11 40th Road unit: 4B, Flushing, NY 11354
      View Details
    • $23,000/mo

      Main Street Retail Space Available

      Prime commercial space in Downtown Flushing with high traffic.
      36-42 Main Street unit: 1Fl, Flushing, NY 11354
      View Details

    FAQs

    What type of property is this?
    Office units - Move-in ready office space in a prime Flushing location.
    Where is this office units located?
    The property is located at 142-28 38th Avenue unit Office Flushing, NY.
    What is the lease rate?
    The lease rate is $7,000 /Mo.
    What are key features of this property?
    This property features: Prime Flushing location near transportation (7‑subway, LIRR, bus lines) and Main Street.; Newly renovated, move‑in ready office space.; Flexible layout suitable for professional or medical office use.
    (646) 889-9988
    We can help!
    Listing Contact
    Li Li
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!