Office Units with Tax
31-35 137TH Street Unit CF1-1, Flushing, NY 11355
For Sale
$1,333,800
Units may be configured separately or combined within a mixed-use building.
Property Size2,052 SF
Days on Market12
Property Features for 31-35 137TH Street Unit CF1-1
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Listing Agency:
E Realty International Corp
Listed By:
Meiying Lin · License #10401290222
(646) 708-2063
Source:
Barbieliteam
Added: Oct 29
Changed: Nov 8
Last Checked: Oct 30 at 10:19AM
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 E Realty International Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Office units at 31-35 137th Street in Flushing are offered for separate occupancy or as a combined space within a mixed-use building. The property has approval for an ICAP tax abatement with a 15-year term.
The address provides access to subway, LIRR, and bus service, along with major highways, shopping, and dining.
The address provides access to subway, LIRR, and bus service, along with major highways, shopping, and dining.
Key Highlights
- Approved for a 15‑year ICAP tax abatement
- Units can be leased separately or combined
- Flushing location with access to subway, LIRR, and bus service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,560
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,351,200
$1.4M
Cap Rate 7%
$965,143
$965.1K
Cap Rate 9%
$750,667
$750.7K
Market Conditions
NOI Build-Up for 2,052 SF
Gross rent
$103.4K $50.40/SF
− Vacancy
−$13.3K −$6.50/SF
EGI
$90.1K $43.90/SF
− OpEx
−$22.5K −$10.97/SF
NOI
$67.6K $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%
$1,351,200
Cap Rate 7%
$965,143
Cap Rate 9%
$750,667
Alternative Uses
Best Use
Office B
$965.1K
$844.5K – $1.13M
NOI $67,560 @ 7.0% cap · market cap 5.07%
Second Best
Healthcare Medical
$675.9K
$591.4K – $788.6K
NOI $47,315 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,893 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,108
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Average Price Trend$/SF for Office Units in Flushing, NY
Properties on Market for Office Units in Flushing
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Units may be configured separately or combined within a mixed-use building.
Where is this office unit located?
The property is located at 31-35 137TH Street Unit CF1-1 Flushing, NY.
What is the asking price?
The asking price for this property is $1,333,800.
What are key features of this property?
This property features: Approved for a 15‑year ICAP tax abatement; Units can be leased separately or combined; Flushing location with access to subway, LIRR, and bus service
