Contemporary Office Condo
142-38 37th Ave #2G Flushing, NY 11354
For Sale
$1,100,000
Newly constructed office condo with open layout, high ceilings, full kitchen, half bath, and on-site parking.
Property Size1,381 SF
Price / SF$796.52
Days on Market441
Property Features for 142-38 37th Ave #2G
General Information
- Standard status
- Active
- Size
- 1,381 SF
- Property subtype
- Commercial
Listing Agency:
Compass Greater NY LLC
(516) 880-3382
Listed By:
Lina Wang
(516) 880-3382
Source:
Cohenandcohenrealty
Added: May 9, 2025
Changed: Jul 22
Last Checked: Jul 23 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Greater NY LLC
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 is complemented by high ceilings, providing flexibility for a range of professional uses, including a community center, medical office, senior or children’s daycare, or an after-school program. The unit includes a full kitchen and a half bathroom.
The offering also includes a tax abatement currently in place and on-site parking for added convenience. Its layout and amenities support both day-to-day client-facing operations and professional programming within a dedicated, turnkey-style space.
The offering also includes a tax abatement currently in place and on-site parking for added convenience. Its layout and amenities support both day-to-day client-facing operations and professional programming within a dedicated, turnkey-style space.
Key Highlights
- Newly constructed office condo in the heart of Flushing
- Approximately 1,381 SF of adaptable, open‑concept office/condo space
- Open layout with high ceilings for flexible professional use
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
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
FAQs
What type of property is this?
Office units - Newly constructed office condo with open layout, high ceilings, full kitchen, half bath, and on-site parking.
Where is this office units located?
The property is located at 142-38 37th Ave #2G 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: Newly constructed office condo in the heart of Flushing; Approximately 1,381 SF of adaptable, open‑concept office/condo space; Open layout with high ceilings for flexible professional use
