Ground-Floor Office
New
For Sale
$580,000
14024 31st Drive Unit P1, Flushing, NY 11354
A Community Facility-designated unit is occupied by a tenant and positioned at street level in Flushing.
Property Size959 SF
Price / SF$604.80
Days on Market5
Property Features for 14024 31st Drive Unit P1
General Information
Standard status
Active
Size
959 SF
Property subtype
Office
Zoning
CF
Additional Details
Floor
1
Gross Income
$26,400
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$330
Building Details
Building Size
959 SF
Year Built
2005
Buildings
1
Tenancy
Single
Listing Agency:
Chous Realty Group Inc
Listed By:
Kimberly Park
(212) 844-9794
Source:
Barbieliteam
Added: Nov 2
Changed: Nov 4
Last Checked: Nov 4 at 2:18PM
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 Chous Realty Group Inc
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Investment Insights
Based on property information with market context.
This 959-square-foot office unit carries a Community Facility (CF) designation and is on the ground floor, at the front of the building. The space is currently tenant-occupied; the property information identifies professional offices and medical practices as potential uses. The building dates to 2005.
The unit is at 14024 31st Drive in Flushing, near public transportation, retail shops, and schools. A parking space may be purchased separately.
The unit is at 14024 31st Drive in Flushing, near public transportation, retail shops, and schools. A parking space may be purchased separately.
Key Highlights
- 959‑square‑foot office unit with a Community Facility (CF) designation
- Ground‑floor, front‑of‑building position
- Currently occupied by a tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,574
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,480
$631.5K
Cap Rate 7%
$451,057
$451.1K
Cap Rate 9%
$350,822
$350.8K
Market Conditions
NOI Build-Up for 959 SF
Gross rent
$48.3K $50.40/SF
− Vacancy
−$6.2K −$6.50/SF
EGI
$42.1K $43.90/SF
− OpEx
−$10.5K −$10.97/SF
NOI
$31.6K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,480
Cap Rate 7%
$451,057
Cap Rate 9%
$350,822
Alternative Uses
Best Use
Office B
$451.1K
$394.7K – $526.2K
NOI $31,574 @ 7.0% cap · market cap 5.44%
Second Best
Healthcare Medical
$315.9K
$276.4K – $368.6K
NOI $22,113 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$707.0K
$618.6K – $824.8K
NOI $49,489 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A Community Facility-designated unit is occupied by a tenant and positioned at street level in Flushing.
Where is this office unit located?
The property is located at 14024 31st Drive Unit P1 Flushing, NY.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 959‑square‑foot office unit with a Community Facility (CF) designation; Ground‑floor, front‑of‑building position; Currently occupied by a tenant
