Mixed-Use Community Facility
New
For Sale
$499,120
31-35 137TH Street Unit CF2-3, Flushing, NY 11355
Community facility units can be configured separately or combined within a fully occupied mixed-use building.
Property Size734 SF
Days on Market7
Property Features for 31-35 137TH Street Unit CF2-3
General Information
Standard status
Active
Size
734 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$608
Building Details
Building Size
734 SF
Year Built
2026
Listing Agency:
E Realty International Corp
Listed By:
Meiying Lin · License #10401290222
(646) 708-2063
Source:
Barbieliteam
Added: Oct 29
Changed: Nov 3
Last Checked: Nov 3 at 2:56PM
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.
Community facility units identified as CF2-3 are part of a fully occupied mixed-use building at 31-35 137th Street in Flushing. The spaces may be arranged as separate units or combined, and the property is approved for a 15-year ICAP tax abatement.
Public transit access includes subway, LIRR, and bus service. The property is also described as close to major highways, shopping, and dining.
Public transit access includes subway, LIRR, and bus service. The property is also described as close to major highways, shopping, and dining.
Key Highlights
- Approved for a 15‑year ICAP tax abatement
- CF2‑3 community facility units may be used separately or combined
- Located in a fully occupied mixed‑use building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,166
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,320
$483.3K
Cap Rate 7%
$345,229
$345.2K
Cap Rate 9%
$268,511
$268.5K
Market Conditions
NOI Build-Up for 734 SF
Gross rent
$37.0K $50.40/SF
− Vacancy
−$4.8K −$6.50/SF
EGI
$32.2K $43.90/SF
− OpEx
−$8.1K −$10.97/SF
NOI
$24.2K $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%
$483,320
Cap Rate 7%
$345,229
Cap Rate 9%
$268,511
Alternative Uses
Best Use
Office B
$345.2K
$302.1K – $402.8K
NOI $24,166 @ 7.0% cap · market cap 4.84%
Second Best
Healthcare Medical
$241.8K
$211.6K – $282.1K
NOI $16,925 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Community facility units can be configured separately or combined within a fully occupied mixed-use building.
Where is this mixed-use property located?
The property is located at 31-35 137TH Street Unit CF2-3 Flushing, NY.
What is the asking price?
The asking price for this property is $499,120.
What are key features of this property?
This property features: Approved for a 15‑year ICAP tax abatement; CF2‑3 community facility units may be used separately or combined; Located in a fully occupied mixed‑use building
