Class A Medical/Community
144-38 35Th Ave Unit CF1 Flushing, NY 11354
144-38 35Th Ave Unit CF1, Flushing, NY, 11354
$1,350,000
For Sale
$1,350,000
Prestigious Class A Physical Therapy, Medical Condo Office, Community Facility, House of Worship, Seminary, School, Day Adult Care, Non Profit
Property Size1,935 SF
Price / SF$697.67
Days on Market229
Property Features for 144-38 35Th Ave Unit CF1
General Information
- Standard status
- Active
- Property type
- Churches & religious facilities, Day care centers, Medical Office Space, Specialty properties, Office Spaces
- Size
- 1,935 SF
- Net Rentable
- 1,935 SF
- Class
- A
- Elevators
- Yes
Building Details
- Year Built
- 2019
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing agency
(718) 640-4431
Listed by
Diane Mi Ryoung
(718) 640-4431
Added: Dec 5, 2025 Updated: Mar 20 at 10:39AM
Investment Insights
Based on property information with market context.
This well-maintained, vacant Class A condo 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, accessible via a private entrance, wheelchair access, and an elevator. Designed by Angelo Ng and Anthony Ng, it was recently built in 2019. The property features high ceilings, large windows, and fire-resistant construction with sprinklers. It benefits from high foot and car traffic, street frontage, and sign visibility, located around the block from the Q28 bus stop. Suitable as a community facility such as a house of worship, seminary, school, day and adult care, non profit, showroom, medical or professional office and physical therapy. The space includes elegant tile flooring and state-of-the-art HVAC central air conditioning/heat, a video intercom security system, laundry, and a bike storage room. Situated off Parsons and Northern Boulevards, near the junction of Van Wyck, Whitestone Expressways, and Grand Central Parkway, it is a short drive to LaGuardia and JFK airports. The location is near the #7 train, LIRR Murray Hill station, and Flushing Main Street station, as well as multiple bus lines. Nearby amenities include nursing homes, medical facilities, supermarkets, and a variety of restaurants. The property has a remaining 20-year tax abatement ending in 2045, with yearly real estate taxes of $6,487. It is zoned R7-1 with a D6 building code.
Key Highlights
- Prestigious Class A community facility, house of worship, seminary, school, day adult care, professional medical office condo recently built condo!
- Good foot, car traffic, street frontage and sign visibility around the block from the Q28 bus stop!
- Near downtown #7 train, LIRR Murray Hill station, Flushing Main street station (third businest pedestrian intersection in NYC!)
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 | $97.5k | $50.40 |
| − Vacancy | −$12.6k | −$6.50 |
| EGI | $84.9k | $43.90 |
| − OpEx | −$21.2k | −$10.97 |
| NOI | $63.7k | $32.92 |
1,935 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$910.1K
$796.4K – $1.06M
NOI $63,708 @ 7.0% cap · market cap 4.72%
Second Best
Healthcare Medical
$637.4K
$557.7K – $743.6K
NOI $44,617 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,855 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Churches & religious facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Church & religious facility - Prestigious Class A Physical Therapy, Medical Condo Office, Community Facility, House of Worship, Seminary, School, Day Adult Care, Non Profit
Where is this church & religious facility located?
The property is located at 144-38 35Th Ave Unit CF1 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: Prestigious Class A community facility, house of worship, seminary, school, day adult care, professional medical office condo recently built condo!; Good foot, car traffic, street frontage and sign visibility around the block from the Q28 bus stop!; Near downtown #7 train, LIRR Murray Hill station, Flushing Main street station (third businest pedestrian intersection in NYC!)
