Flexible-Layout Office
For Sale
$1,520,000
Pending
37-16 Union Street, Flushing, NY 11354
Commercial Sale, Flushing, NY
Property Size1,381 SF
Lot Size0.24 Acres
Days on Market299
Property Features for 37-16 Union Street
General Information
Property type
Commercial Sale
Property subtype
Office
Property condition
Under Construction
Directions
Google Maps
Standard status
Pending
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1344
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
floor-to-ceiling windows
private outdoor terraces
automated robotic parking system
VRF HVAC systems
energy-efficient curtain walls
Building Details
Year built
2025
Building materials
Aluminum Siding
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Dec 11, 2025
Changed: Oct 5
Last Checked: Oct 6 at 4:06PM
MLS# 943526
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.
Investment Insights
Based on property information with market context.
Unit 704 offers approximately 1381 square feet within a 15-story Class A commercial tower under construction. The layout is designed for professional or medical occupancy, with floor-to-ceiling windows and access to modern building systems, including VRF HVAC and energy-efficient curtain walls. Private outdoor terraces and a fully automated robotic parking system are also planned for the development.
The property is located at 37-16 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 extending throughout Queens, Manhattan, Brooklyn, and Long Island. Hospitals, banks, retail, dining, and highways are nearby. The project is estimated for completion in Spring 2026 and qualifies for a 25-year tax abatement.
The property is located at 37-16 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 extending throughout Queens, Manhattan, Brooklyn, and Long Island. Hospitals, banks, retail, dining, and highways are nearby. The project is estimated for completion in Spring 2026 and qualifies for a 25-year tax abatement.
Key Highlights
- Approximately 1381 square feet in Unit 704
- 15‑story Class A commercial tower under construction
- Professional or medical use layout with floor‑to‑ceiling windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,468
Cap Rate
2.99%
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 2.99%
Second Best
Healthcare Medical
$454.9K
$398.0K – $530.7K
NOI $31,843 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.02M
$890.8K – $1.19M
NOI $71,266 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Office units - This commercial unit supports professional and medical use within a new Class A tower.
Where is this office units located?
The property is located at 37-16 Union Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Approximately 1381 square feet in Unit 704; 15‑story Class A commercial tower under construction; Professional or medical use layout with floor‑to‑ceiling windows
