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    The Largest CRE Database in the US with Over 1 Million Listings

    144-38 35Th Ave Flushing, NY 11354

    Sponsored
    For Sale
    $1,350,000

    Commercial Building, Mid-rise - Flushing, NY

    Property size:
    861 SF
    Days on Market:
    6
    Last Refresh:
    Jan 22 at 7:06 am

    Property Features for 144-38 35Th Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    New Construction
    Standard status
    Active
    Zoning
    200
    Rooms
    Basement, Bathroom 1, Kitchen, Laundry
    Bathrooms
    1
    APN
    5003-7502
    Parking features
    Garage, Garage - Attached
    Interior features
    Intercom, Central Vacuum
    Basement Y/N
    1
    Size
    861 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2019
    Year renovated
    2019
    Floors in Building
    8
    Building materials
    Stone
    Architectural style
    Other

    We can help!

    Listing Contact
    Mi Ryoung Chong

    HANMI REALTY (718) 961-8801

    Listing agent Mi Ryoung Chong (718) 961-8801

    Listing date Jan 17, 2026

    MLS# 11614764 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Flushing Condo Ideal for Community

    This well-maintained Class A condo in Flushing offers approximately 1,935 square feet of space, including 861 square feet on the ground floor and 1,014 square feet in the full finished cellar. The cellar has a private entrance. Constructed in 2019, the building features high ceilings, fire-resistant construction with sprinklers, wheelchair access, and an elevator. The property benefits from high foot traffic and over 4,500 daily car traffic, with street frontage and sign visibility near the Q28 bus stop. It is currently vacant and suitable for a community facility such as a house of worship, seminary, school, day and adult day care, non-profit organization, showroom, medical or professional office, or physical therapy. The space includes elegant tile flooring, HVAC central air conditioning and heat, and a video intercom security system, as well as a part-time doorman, laundry, and a bike storage room. The location is near Parsons Boulevard, Northern Boulevard, and the major junction of Van Wyck Expressway, Whitestone Expressway, Grand Central Parkway, and marinas. It is a 10-minute drive to LaGuardia Airport and 20 minutes to JFK Airport. The property is close to the #7 train, the LIRR Murray Hill station, and multiple bus lines. The area offers a variety of amenities, including supermarkets, restaurants, shops, and medical facilities. The property has a zoning of R7-1 with a D6 building code. The yearly real estate taxes are $6,487, with a tax abatement ending in 2045.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.822057
    Latitude
    40.765725

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    FAQs

    What type of property is this?
    Office space - Well-maintained condo suitable for community facility, medical, or professional office.
    Where is this office space located?
    The property is located at 144-38 35Th Ave Flushing, NY.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: - Prime Location: Exceptional access to transportation and diverse amenities.; - Versatile Space: Large, well-maintained 1,935 sq ft condo suitable for various community facilities or professional offices, with private entrance and wheelchair access.; - Finished Cellar: Full finished cellar (1,014 sq ft) with private entrance, expanding usable space and potential.
    (718) 961-8801
    Request Owner's contact information
    144-38 35Th Ave Flushing, NY 11354
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    Flushing, NY 11354
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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
    144-38 35Th Ave Flushing, NY 11354
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    Listing Contact
    Mi Ryoung Chong
    (718) 961-8801
    Learn more
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