Office Unit with Flexible
37-16 Union Street, Flushing, NY 11354
For Sale
$1,500,000
Pending
Commercial Sale, Flushing, NY
Property Size1,304 SF
Lot Size0.24 Acres
Days on Market250
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: Mar 10
Changed: Oct 5
Last Checked: Nov 14 at 6:06AM
MLS# 969921
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 606 is an approximately 1,304-square-foot office unit in a 15-story commercial tower under construction. The space is described as having a flexible layout suitable for professional or medical use. Building features include floor-to-ceiling windows, private outdoor terraces, VRF HVAC, energy-efficient curtain walls, public water and public sewer, central air, and electric heating. A fully automated robotic parking system is also planned. Estimated completion is Spring 2026.
The property is at 37-16 Union Street in Flushing, NY. Main Street 7 Train service is one block away, with the LIRR and more than 20 MTA bus lines nearby. Hospitals, banks, retail, dining, and highways are also located in the surrounding area. The development qualifies for a 25-year tax abatement.
The property is at 37-16 Union Street in Flushing, NY. Main Street 7 Train service is one block away, with the LIRR and more than 20 MTA bus lines nearby. Hospitals, banks, retail, dining, and highways are also located in the surrounding area. The development qualifies for a 25-year tax abatement.
Key Highlights
- Approximately 1,304 square feet in Unit 606
- 15‑story commercial tower under construction; estimated completion Spring 2026
- Flexible layout described for professional or medical use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,933
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,660
$858.7K
Cap Rate 7%
$613,329
$613.3K
Cap Rate 9%
$477,033
$477.0K
Market Conditions
NOI Build-Up for 1,304 SF
Gross rent
$65.7K $50.40/SF
− Vacancy
−$8.5K −$6.50/SF
EGI
$57.2K $43.90/SF
− OpEx
−$14.3K −$10.97/SF
NOI
$42.9K $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%
$858,660
Cap Rate 7%
$613,329
Cap Rate 9%
$477,033
Alternative Uses
Best Use
Office B
$613.3K
$536.7K – $715.6K
NOI $42,933 @ 7.0% cap · market cap 2.86%
Second Best
Healthcare Medical
$429.5K
$375.9K – $501.1K
NOI $30,068 @ 7.0% cap · market cap 2.00%
Theoretical Best
Office A
$961.3K
$841.2K – $1.12M
NOI $67,293 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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 - Commercial suite planned for professional or medical use within a modern under-construction tower.
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 $1,500,000.
What are key features of this property?
This property features: Approximately 1,304 square feet in Unit 606; 15‑story commercial tower under construction; estimated completion Spring 2026; Flexible layout described for professional or medical use
