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    9th-Floor Office Condominium Suite Title is generated by Realmo AI

    136-33 37th Avenue, Flushing, NY 11354

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    For Sale
    $2,198,000

    SINGLE_FAMILY - Flushing, NY

    Type:Office
    Property size:
    3,416 SF
    Price / SF:
    $643/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 136-33 37th Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    C4-3
    Parking features
    Valet, Parking Lot
    Security features
    Security System
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    04977-1133

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    2807

    Utilities

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

    Building Details

    Year built
    2007
    Building materials
    Fiberglass Siding

    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 Jun 3, 2026

    MLS# 1007365

    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.

    HighLights

    • Office condo in Renaissance Tower in Downtown Flushing
    • Unit 9A on the 9th floor offers approx. 1,826 SF and can be delivered vacant
    • Unit 9A can be combined with Unit 9B for approx. 3,416 SF total
    • Central air and electric heating; public water and public sewer
    • Building includes elevator access, professional management, and 24‑hour security service
    • Over 130 indoor attendant parking spaces plus valet and a parking lot

    Overview

    This offering is a commercial office condominium suite located on the 9th floor of the full-service Renaissance Tower. Unit 9A provides a spacious, efficient layout designed to support a range of professional office uses. The unit is available to be delivered vacant, allowing for immediate occupancy, customization, or owner use. For users needing additional space, Unit 9A may be combined with Unit 9B to create a larger configuration spanning approximately 3,416 SF.

    The building provides elevator access, professional management, and 24-hour security service. Renaissance Tower also offers more than 130 indoor attendant parking spaces for owners and visitors. The property is positioned in Flushing’s business district, with access to Main Street and nearby transportation options including the 7 subway line and LIRR, along with municipal parking facilities and multiple bus routes.

    Unit 9A is well suited for law, accounting, medical, financial, investment, administrative, and other service-oriented office operations. Its condominium structure supports owner-occupants seeking a long-term workplace while also catering to investors looking to acquire an office unit in a managed high-rise environment with dedicated parking and building security.

    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 $172.2k $50.40
    − Vacancy −$22.2k −$6.50
    EGI $150.0k $43.90
    − OpEx −$37.5k −$10.97
    NOI $112.5k $32.92
    3,416 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.61M
    $1.41M – $1.87M (±1% cap)
    NOI $112,468 @ 7.0% cap · market cap 5.12%
    Second Best
    Healthcare Medical
    $1.13M
    $984.6K – $1.31M (±1% cap)
    NOI $78,766 @ 7.0% cap · market cap 3.58%
    Theoretical Best
    Office A
    $2.52M
    $2.20M – $2.94M (±1% cap)
    NOI $176,282 @ 7.0% cap · market cap 8.02%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    中科健康国际 - 中科灵芝孢子油|孢子粉|增强免疫 Specialty Food Shop Steve Yang CPA Accounting Firm A E & Ly Medical ... Medical Clinic Tesla Destination Charger Electric Vehicle Charging Station Yonghong Xiao MD Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.907535
    Latitude
    40.750702

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    FAQs

    What type of property is this?
    Office units - Office condominium suite in a full-service building with 24-hour security and convenient transit access for staff and clients.
    Where is this office units located?
    The property is located at 136-33 37th Avenue Flushing, NY.
    What is the asking price?
    The asking price for this property is $2,198,000.
    What are key features of this property?
    This property features: Office condo in Renaissance Tower in Downtown Flushing; Unit 9A on the 9th floor offers approx. 1,826 SF and can be delivered vacant; Unit 9A can be combined with Unit 9B for approx. 3,416 SF total
    (646) 889-9988
    We can help!
    Listing Contact
    Li Li
    Request Owner's contact information
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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
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