Medical Office
New
For Sale
$911,400
38-20 Parsons Boulevard Unit CF16, Flushing, NY 11354
The community facility unit is in a 2025 mixed-use development with occupied residential units.
Property Size1,302 SF
Days on Market4
Property Features for 38-20 Parsons Boulevard Unit CF16
General Information
Standard status
Active
Size
1,302 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$842
Building Details
Building Size
1,302 SF
Year Built
2025
Listing Agency:
E Realty International Corp
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Barbieliteam
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 2:45PM
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 E Realty International Corp
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This community facility unit is part of a mixed-use building completed in 2025. Ceiling heights range from approximately 13 to 19 feet. The unit may be combined with neighboring units, subject to required approvals and permits. Medical, dental, educational, daycare, and professional services are identified as potential community facility uses.
The building includes residential units that are substantially sold and occupied. The property is in Flushing, with public transportation, major roadways, shopping, restaurants, and medical offices cited among the surrounding amenities. The commercial units are approved for the ICAP 25-Year Tax Abatement.
The building includes residential units that are substantially sold and occupied. The property is in Flushing, with public transportation, major roadways, shopping, restaurants, and medical offices cited among the surrounding amenities. The commercial units are approved for the ICAP 25-Year Tax Abatement.
Key Highlights
- Community facility unit in a 2025 mixed‑use building
- 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
$42,867
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,340
$857.3K
Cap Rate 7%
$612,386
$612.4K
Cap Rate 9%
$476,300
$476.3K
Market Conditions
NOI Build-Up for 1,302 SF
Gross rent
$65.6K $50.40/SF
− Vacancy
−$8.5K −$6.50/SF
EGI
$57.2K $43.90/SF
− OpEx
−$14.3K −$10.97/SF
NOI
$42.9K $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%
$857,340
Cap Rate 7%
$612,386
Cap Rate 9%
$476,300
Alternative Uses
Best Use
Office B
$612.4K
$535.8K – $714.5K
NOI $42,867 @ 7.0% cap · market cap 4.70%
Second Best
Healthcare Medical
$428.9K
$375.3K – $500.4K
NOI $30,022 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$959.8K
$839.9K – $1.12M
NOI $67,189 @ 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 - The community facility unit is in a 2025 mixed-use development with occupied residential units.
Where is this medical office space located?
The property is located at 38-20 Parsons Boulevard Unit CF16 Flushing, NY.
What is the asking price?
The asking price for this property is $911,400.
What are key features of this property?
This property features: Community facility unit in a 2025 mixed‑use building; Ceiling heights range from approximately 13 to 19 feet; Approved for the ICAP 25‑Year Tax Abatement
