Office Unit with Private
37-16 Union Street, Flushing, NY 11354
For Sale
$1,568,000
Pending
Commercial Sale, Flushing, NY
Property Size1,381 SF
Lot Size0.24 Acres
Days on Market339
Property Features for 37-16 Union Street
General Information
Property type
Property subtype
Property condition
Directions
Standard status
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
floor-to-ceiling windows
private outdoor terraces
fully automated robotic parking system
VRF HVAC systems
energy-efficient curtain walls
Building Details
Year built
Building materials
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Dec 11, 2025
Changed: Oct 5
Last Checked: Nov 14 at 6:06AM
MLS# 943357
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.
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Investment Insights
Based on property information with market context.
Unit 1004 offers approximately 1381 square feet within a 15-story commercial tower currently under construction. The flexible interior is positioned for professional or medical use and includes floor-to-ceiling windows, a private outdoor terrace, central air, electric heating, public water, and public sewer. The building is designed with VRF HVAC, energy-efficient curtain walls, and a robotic parking system by Stolzer.
The property is located at 37-16 Union Street in Downtown Flushing, one block from the Main Street 7 Train and near the LIRR and 20+ MTA bus lines. Hospitals, banks, retail, dining, and highways are also nearby. Estimated completion is Spring 2026, and the development is qualified for a 25-year tax abatement.
The property is located at 37-16 Union Street in Downtown Flushing, one block from the Main Street 7 Train and near the LIRR and 20+ MTA bus lines. Hospitals, banks, retail, dining, and highways are also nearby. Estimated completion is Spring 2026, and the development is qualified for a 25-year tax abatement.
Key Highlights
- Approximately 1381 square feet in Unit 1004
- Flexible layout suited to professional or medical use
- Private outdoor terrace and floor‑to‑ceiling windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,468
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,360
$909.4K
Cap Rate 7%
$649,543
$649.5K
Cap Rate 9%
$505,200
$505.2K
Market Conditions
NOI Build-Up for 1,381 SF
Gross rent
$69.6K $50.40/SF
− Vacancy
−$9.0K −$6.50/SF
EGI
$60.6K $43.90/SF
− OpEx
−$15.2K −$10.97/SF
NOI
$45.5K $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%
$909,360
Cap Rate 7%
$649,543
Cap Rate 9%
$505,200
Alternative Uses
Best Use
Office B
$649.5K
$568.4K – $757.8K
NOI $45,468 @ 7.0% cap · market cap 2.90%
Second Best
Healthcare Medical
$454.9K
$398.0K – $530.7K
NOI $31,843 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$1.02M
$890.8K – $1.19M
NOI $71,266 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
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
$521,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Flexible commercial unit suited to professional or medical occupancy within a modern office development.
Where is this office unit located?
The property is located at 37-16 Union Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,568,000.
What are key features of this property?
This property features: Approximately 1381 square feet in Unit 1004; Flexible layout suited to professional or medical use; Private outdoor terrace and floor‑to‑ceiling windows
