Office Units With Private
For Sale
$1,020,000
37-16 Union Street Unit 1402, Flushing, NY 11354
Flexible layouts support professional, medical, and life science uses.
Property Size792 SF
Price / SF$1,144
Days on Market168
Property Features for 37-16 Union Street Unit 1402
General Information
Standard status
Active
Size
792 SF
Class
Class A
Property subtype
Office
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
10
Taxes and HOA fees
Annual Taxes
$768
Amenities
floor-to-ceiling windows
private outdoor terraces
robotic parking system
VRF HVAC
energy-efficient curtain walls
Building Details
Building Size
792 SF
Year Built
2025
Buildings
1
Stories
15
Construction
glass facade
Listing Agency:
B Square Realty
Listed By:
Li Li
(646) 889-9988
Source:
Barbieliteam
Added: May 11
Changed: Oct 18
Last Checked: Oct 23 at 1:14PM
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 B Square Realty
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Investment Insights
Based on property information with market context.
Union Center is a 15-story commercial building offering office units designed for professional, medical, and life science applications. The property features floor-to-ceiling windows, private outdoor terraces, VRF HVAC systems, energy-efficient curtain walls, and infrastructure intended for high-demand commercial uses. A fully automated robotic parking system by Stolzer is also included in the building’s amenity package.
The property is located on Union Street in Flushing, one block from the Main Street 7 Train and near the LIRR. More than 20 MTA bus lines serve the surrounding area, with access to hospitals, banks, retail, dining, and highways. The building is qualified for a 25-year tax abatement.
The property is located on Union Street in Flushing, one block from the Main Street 7 Train and near the LIRR. More than 20 MTA bus lines serve the surrounding area, with access to hospitals, banks, retail, dining, and highways. The building is qualified for a 25-year tax abatement.
Key Highlights
- 15‑story commercial building with office, medical, and life science use potential
- Private outdoor terraces and floor‑to‑ceiling windows
- Fully automated robotic parking system by Stolzer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,335
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,700
$586.7K
Cap Rate 7%
$419,071
$419.1K
Cap Rate 9%
$325,944
$325.9K
Market Conditions
NOI Build-Up for 891 SF
Gross rent
$44.9K $50.40/SF
− Vacancy
−$5.8K −$6.50/SF
EGI
$39.1K $43.90/SF
− OpEx
−$9.8K −$10.97/SF
NOI
$29.3K $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%
$586,700
Cap Rate 7%
$419,071
Cap Rate 9%
$325,944
Alternative Uses
Best Use
Office B
$419.1K
$366.7K – $488.9K
NOI $29,335 @ 7.0% cap · market cap 2.88%
Second Best
Healthcare Medical
$293.5K
$256.8K – $342.4K
NOI $20,545 @ 7.0% cap · market cap 2.01%
Theoretical Best
Office A
$656.9K
$574.8K – $766.3K
NOI $45,980 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible layouts support professional, medical, and life science uses.
Where is this office unit located?
The property is located at 37-16 Union Street Unit 1402 Flushing, NY.
What is the asking price?
The asking price for this property is $1,020,000.
What are key features of this property?
This property features: 15‑story commercial building with office, medical, and life science use potential; Private outdoor terraces and floor‑to‑ceiling windows; Fully automated robotic parking system by Stolzer
