Medical Office Space with High
For Sale
$1,799,700
38-20 Parsons Boulevard Cf19, Flushing, NY 11354
Community facility space in a 2025 mixed-use building may suit medical, educational, daycare, and professional services.
Property Size2,571 SF
Price / SF$700
Days on Market10
Property Features for 38-20 Parsons Boulevard Cf19
General Information
Standard status
Active
Size
2,571 SF
Additional Details
Public Transit
Yes
Property Use
Community Facility
Taxes and HOA fees
Annual Taxes
$1,667
Amenities
No
Public
2571
Building Details
Building Size
2,571 SF
Year Built
2025
Listing Agency:
(516) 703-2918
Listed By:
Josephine Nicolosi
Source:
Hedgestonehomes
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 9:18AM
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 Josephine Nicolosi
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Investment Insights
Based on property information with market context.
Located at 38-20 Parsons Boulevard in Flushing, this community facility offering is part of a mixed-use building completed in 2025. Approximately 33,000 SF of commercial space is available, with ceiling heights ranging from about 13 to 19 feet. Adjacent units may be combined subject to required approvals and permits.
The residential portion of the building is substantially sold and occupied. Public transportation, major roadways, shopping, restaurants, and medical offices are among the nearby amenities. The commercial units are approved for the ICAP 25-Year Tax Abatement.
The residential portion of the building is substantially sold and occupied. Public transportation, major roadways, shopping, restaurants, and medical offices are among the nearby amenities. The commercial units are approved for the ICAP 25-Year Tax Abatement.
Key Highlights
- Approximately 33,000 SF of commercial space available
- Ceiling heights range from approximately 13 to 19 feet
- Approved for the ICAP 25‑Year Tax Abatement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,647
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,692,940
$1.7M
Cap Rate 7%
$1,209,243
$1.2M
Cap Rate 9%
$940,522
$940.5K
Market Conditions
NOI Build-Up for 2,571 SF
Gross rent
$129.6K $50.40/SF
− Vacancy
−$16.7K −$6.50/SF
EGI
$112.9K $43.90/SF
− OpEx
−$28.2K −$10.97/SF
NOI
$84.6K $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%
$1,692,940
Cap Rate 7%
$1,209,243
Cap Rate 9%
$940,522
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,647 @ 7.0% cap · market cap 4.70%
Second Best
Healthcare Medical
$846.9K
$741.0K – $988.0K
NOI $59,282 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,676 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Veterinary Care Group - Whitestone — 14938 14th Ave, Whitestone, NY 11357
Frequently Asked Questions
What type of property is this?
Medical Office Space - Community facility space in a 2025 mixed-use building may suit medical, educational, daycare, and professional services.
Where is this medical office space located?
The property is located at 38-20 Parsons Boulevard Cf19 Flushing, NY.
What is the asking price?
The asking price for this property is $1,799,700.
What are key features of this property?
This property features: Approximately 33,000 SF of commercial space available; Ceiling heights range from approximately 13 to 19 feet; Approved for the ICAP 25‑Year Tax Abatement
