Leased Office
38-08 Union Street Unit 2E, Flushing, NY 11354
For Sale
$2,660,000
The 100% leased unit is occupied by a healthcare-services tenant under a triple-net lease.
Property Size2,392 SF
Price / SF$1,456
Days on Market37
Property Features for 38-08 Union Street Unit 2E
General Information
Standard status
Size
Net Rentable
Class
Elevators
Property subtype
Occupancy
Net Operating Income
Financials
Cap Rate
Gross Income
Additional Details
Public Transit
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
24/7 security
concierge
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Yaos Realty LLC
Listed By:
Jianfeng Yao
(631) 321-0100
Source:
Barbieliteam
Added: Oct 8
Changed: Nov 13
Last Checked: Nov 12 at 6:26PM
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 Yaos Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Class A office condominium at Flushing Commons contains 2,392 rentable square feet and 1,826 usable square feet. Built in 2014, the property is fully leased to a healthcare-services tenant on a triple-net basis. The lease continues through December 31, 2028, with a five-year renewal option through December 31, 2033. Annual rent increases by 3%, and the reported cap rate is 6.68%. A 25-year real estate tax abatement began in 2019, per the owner.
The office building is part of the 1.8 million-square-foot Flushing Commons development. Building features include around-the-clock security and concierge service, high-speed elevators, and an on-site public parking garage. The Flushing-Main Street 7 train, LIRR, and bus service are steps away. Showings require 24-hour notice because the unit is occupied.
The office building is part of the 1.8 million-square-foot Flushing Commons development. Building features include around-the-clock security and concierge service, high-speed elevators, and an on-site public parking garage. The Flushing-Main Street 7 train, LIRR, and bus service are steps away. Showings require 24-hour notice because the unit is occupied.
Key Highlights
- 2,392 rentable SF and 1,826 usable SF
- 100% leased on a triple‑net basis to a healthcare‑services tenant
- Lease runs through 12/31/2028, with a 5‑year renewal option to 12/31/2033
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,358
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
$521,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - The 100% leased unit is occupied by a healthcare-services tenant under a triple-net lease.
Where is this office unit located?
The property is located at 38-08 Union Street Unit 2E Flushing, NY.
What is the asking price?
The asking price for this property is $2,660,000.
What are key features of this property?
This property features: 2,392 rentable SF and 1,826 usable SF; 100% leased on a triple‑net basis to a healthcare‑services tenant; Lease runs through 12/31/2028, with a 5‑year renewal option to 12/31/2033
