Flushing Union Center Commercial
37-16 Union Street Flushing, NY 11354
For Sale
$1,568,000
Pending
SINGLE_FAMILY - Flushing, NY
Property Size1,381 SF
Lot Size0.24 Acres
Days on Market229
Property Features for 37-16 Union Street
General Information
Property type
Residential
Property subtype
Office
Property condition
Under Construction
Standard status
Pending
Size
1,381 SF
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
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: May 12
Last Checked: Jul 28 at 4:06AM
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.
Investment Insights
Based on property information with market context.
Located in Downtown Flushing, Union Center is a Class A commercial development suitable for office, medical, and life science use. Unit 1004 offers approximately 1381 square feet of flexible space, suitable for professional or medical purposes. This 15-story building features floor-to-ceiling windows and private outdoor terraces. A fully automated robotic parking system by Stolzer is available. The property includes VRF HVAC systems and energy-efficient curtain walls. The infrastructure is designed to accommodate high-demand commercial uses. Union Center qualifies for a 25-year tax abatement. It is located one block from the Main Street 7 Train, near the LIRR, and surrounded by over 20 MTA bus lines, providing access to Manhattan, Brooklyn, Queens, and Long Island. The building is near hospitals, banks, retail, dining, and highways. The estimated completion is Spring 2026.
Key Highlights
- Prime Downtown Flushing location, one block from the 7 train and close to LIRR and numerous bus lines.
- New Class A commercial development with modern amenities and flexible layout suitable for office, medical, or life science use (Unit 1004: 1381 sq ft).
- 25‑year tax abatement, offering long‑term savings for owners and investors.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.6k | $50.40 |
| − Vacancy | −$9.0k | −$6.50 |
| EGI | $60.6k | $43.90 |
| − OpEx | −$15.2k | −$10.97 |
| NOI | $45.5k | $32.92 |
1,381 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Petco Vaccination Clinic — 13311 20th Ave, College Point, NY 11356
- College Point Veterinary Center — Flushing, NY 11357
- Kim Patrick PC — 14905 Northern Blvd, Flushing, NY 11354
- Dr. Perkins — 33-26 Union St, Queens, NY 11354
- Flushing Animal Health — 14936 Northern Blvd, Flushing, NY 11354
Frequently Asked Questions
What type of property is this?
Medical Office Space - New Class A commercial development ideal for professional or medical use.
Where is this medical office space 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: Prime Downtown Flushing location, one block from the 7 train and close to LIRR and numerous bus lines.; New Class A commercial development with modern amenities and flexible layout suitable for office, medical, or life science use (Unit 1004: 1381 sq ft).; 25‑year tax abatement, offering long‑term savings for owners and investors.
