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    Flushing Medical Office Space Title is generated by Realmo AI

    142-01 37th Avenue, Flushing, NY 11354

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    Claim this Listing
    For Lease
    $5,500/Mo $50 SF/Yr (calc)

    COMMERCIAL - Flushing, NY

    Type:Office
    Property size:
    1,300 SF
    Lot size:
    0.04 Acres
    Added:
    Dec 10, 2025
    Days on Market:
    157
    Last Refresh:
    May 16 at 6:06 pm

    Property Features for 142-01 37th Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    R6
    Security features
    Security
    Standard status
    Active
    APN
    05010-0001
    Size
    1,300 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Year
    2024

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1982
    Floors in Building
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Xing Zheng

    Listing agent Xing Zheng License #10401395641

    Listing office Lin Pan Realty Group LLC 5 Bond St Suite #201, Great Neck, NY

    Listing date Dec 10, 2025

    MLS# 943304

    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

    • Highly visible corner location with heavy foot and car traffic.
    • Fully built‑out 1300 SF medical office space, ready for immediate use.
    • Includes waiting area, front desk, open space, three treatment rooms, and private bathroom.
    • Handicapped accessible.
    • Recently updated with new electrical panel and fire sprinkler system.
    • Suitable for healthcare, afterschool center, or non‑profit organization.

    Overview

    Located at the corner of Union Street and 37th Avenue in Flushing, New York, this commercial space offers high visibility on a ground floor corner. The 1,300 square foot rentable space is fully built-out for medical office use and includes handicapped access. The layout features a waiting area, front desk, open space, three treatment rooms, and a private bathroom. The property has been recently updated with a new electrical panel and fire sprinkler system. Signage opportunities are available facing Union Street, benefiting from heavy foot and car traffic. The space is suitable for a healthcare office, medical clinic, afterschool center, or non-profit organization. This location is positioned for high volume business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Bruce Alpert Alternative Medicine Practice Gil C. Allen, ... Alternative Medicine Practice Edo Sushi School Vocational School Yuanyuan Cheng, LAC Alternative Medicine Practice Allen Chiropractic Alternative Medicine Practice

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Similar Places Nearby

    • College Point Veterinary Center — Flushing, NY 11357
    • Kim Patrick PC — 14905 Northern Blvd, Flushing, NY 11354
    • Dr. Perkins — 33-26 Union St, Queens, NY 11354
    • Flushing Animal Health — 14936 Northern Blvd, Flushing, NY 11354
    • Flushing Veterinary Hospital — 4024 Murray St, Flushing, NY 11354

    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?
    Medical Office Space - Prime location medical office space for rent in Flushing.
    Where is this medical office space located?
    The property is located at 142-01 37th Avenue Flushing, NY.
    What is the lease rate?
    The lease rate is $5,500 /Mo.
    What are key features of this property?
    This property features: Highly visible corner location with heavy foot and car traffic.; Fully built‑out 1300 SF medical office space, ready for immediate use.; Includes waiting area, front desk, open space, three treatment rooms, and private bathroom.
    (917) 902-3898
    We can help!
    Listing Contact
    Xing Zheng
    Real Estate License ID: 10401395641
    Learn More
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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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