Flushing Office Condo For
142-38 37th Ave Flushing, NY 11354
142-38 37th Ave, Flushing, NY, 11354
$1,100,000
For Sale
$1,100,000
SINGLE_FAMILY - Flushing, NY
Property Size1,381 SF
Price / SF$796.52
Days on Market444
Property Features for 142-38 37th Ave
General Information
- Property type
- Residential
- Property subtype
- Office
- Standard status
- Active
- Size
- 1,381 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 2294
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Building materials
- Aluminum Siding
Listing agency
Compass Greater NY LLC
(516) 517-4751
Listed by
Lina Wang
(516) 880-3382
Added: May 5, 2025 Updated: May 12 at 9:20PM Checked: Jul 22 at 10:06AM
MLS# 859854
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.
Investment Insights
Based on property information with market context.
Located in a newly constructed building in the heart of Flushing, this contemporary office/condo offers approximately 1,381 square feet of adaptable space. The open-concept layout with high ceilings provides exceptional flexibility for customization, making it ideal for a variety of professional uses such as a community center, medical office, senior or children's daycare, or after-school program. The unit includes a full kitchen and a half bathroom. A tax abatement is currently in place, and on-site parking adds to the convenience of this prime offering.
Key Highlights
- Prime location in the heart of Flushing.
- Adaptable 1,381 sq ft open‑concept space suitable for various professional uses.
- Tax abatement in place.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.6k | $50.40 |
| − Vacancy | −$9.0k | −$6.50 |
| EGI | $60.6k | $43.90 |
| − OpEx | −$15.2k | −$10.97 |
| NOI | $45.5k | $32.92 |
1,381 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$649.5K
$568.4K – $757.8K
NOI $45,468 @ 7.0% cap · market cap 4.13%
Second Best
Healthcare Medical
$454.9K
$398.0K – $530.7K
NOI $31,843 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.02M
$890.8K – $1.19M
NOI $71,266 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Progressive Surgical Care
Medical Clinic
Rendr Biopsy Service ...
Medical Clinic
纽约泌尿科医生诊所 - 皇后区 法拉盛 ...
Medical Clinic
Junyu Chen Pelvic ...
Medical Clinic
Jane Yang, MD
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Adaptable office condo in new building, prime Flushing location.
Where is this office units located?
The property is located at 142-38 37th Ave Flushing, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Prime location in the heart of Flushing.; Adaptable 1,381 sq ft open‑concept space suitable for various professional uses.; Tax abatement in place.
