Mixed-Use Property with
New
For Sale
$3,888,000
3204 Union St, Flushing, NY 11354
Two apartments occupy the upper floor above commercial and community space on the main level.
Property Size6,105 SF
Price / SF$636.86
Days on Market5
Property Features for 3204 Union St
General Information
Standard status
Active
Size
6,105 SF
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$24,150
Building Details
Year Built
1995
Year Renovated
2025
Construction
reinforced concrete and steel frame
Listing Agency:
Douglas Elliman Real Estate
(516) 627-2800
Listed By:
Jane S. Gao · License #10301212998
(718) 801-9079
Source:
Exprealty
Added: Oct 25
Changed: Oct 28
Last Checked: Oct 28 at 2:35PM
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 Douglas Elliman Real Estate
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Investment Insights
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Built in 1995 with reinforced concrete and steel framing, this mixed-use property received a full renovation in 2025. The upper floor contains two apartments, each with two bedrooms and one bathroom. Commercial and community space occupies the main level.
The building combines residential units with ground-floor commercial and community space at 3204 Union St in Flushing, New York.
The building combines residential units with ground-floor commercial and community space at 3204 Union St in Flushing, New York.
Key Highlights
- Full renovation completed in 2025
- Two second‑floor apartments, each with 2 bedrooms and 1 bathroom
- Main level includes commercial and community space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,233
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,984,660
$3.0M
Cap Rate 7%
$2,131,900
$2.1M
Cap Rate 9%
$1,658,144
$1.7M
Market Conditions
NOI Build-Up for 6,105 SF
Gross rent
$282.1K $46.20/SF
− Vacancy
−$10.7K −$1.76/SF
EGI
$271.3K $44.44/SF
− OpEx
−$122.1K −$20.00/SF
NOI
$149.2K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,984,660
Cap Rate 7%
$2,131,900
Cap Rate 9%
$1,658,144
Alternative Uses
Best Use
Apartment 5plus
$2.13M
$1.87M – $2.49M
NOI $149,233 @ 7.0% cap · market cap 3.84%
Second Best
Mixed Use
$1.12M
$982.1K – $1.31M
NOI $78,571 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $315,047 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7,334
Businesses Nearby
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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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments occupy the upper floor above commercial and community space on the main level.
Where is this mixed-use property located?
The property is located at 3204 Union St Flushing, NY.
What is the asking price?
The asking price for this property is $3,888,000.
What are key features of this property?
This property features: Full renovation completed in 2025; Two second‑floor apartments, each with 2 bedrooms and 1 bathroom; Main level includes commercial and community space
