Office Building For
4029 FRANCIS LEWIS BLVD Flushing, NY 11361
4029 FRANCIS LEWIS BLVD, Flushing, NY, 11361
$3,376,000
For Sale
$3,376,000
For sale office building with an available option for residential conversion and proximity to major area expressways and bridges.
Property Size4,649 SF
Price / SF$726.18
Days on Market190
Property Features for 4029 FRANCIS LEWIS BLVD
General Information
- Standard status
- Active
- Size
- 4,649 SF
- Property subtype
- Office
Building Details
- Year Built
- 1955
Listing agency
Tyme Realty Corp
(646) 416-1174
Listed by
Hena Choung · License #10301203655
(646) 416-1174
Source
Xome
Added: Jan 14 Updated: Jul 22 at 5:05PM Checked: Jul 23 at 3:44AM
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 Tyme Realty Corp
Investment Insights
Based on property information with market context.
This for-sale office building is offered on an exclusive basis, with the ability to purchase the property individually or acquire two buildings. The offering also notes an option for residential conversion, subject to applicable approvals.
The property is located at 4029 Francis Lewis Blvd in Flushing, Queens, conveniently positioned near the border of Whitestone and Bayside. It is described as being close to the Whitestone Expressway, Throgs Neck Bridge, Whitestone Bridge, Cross Island Parkway, and the Van Wyck Expressway, with access to Grand Central mentioned as well.
Interested buyers and brokers can inquire about the residential conversion option and the potential to purchase either a single building or two buildings as part of the broader offering.
The property is located at 4029 Francis Lewis Blvd in Flushing, Queens, conveniently positioned near the border of Whitestone and Bayside. It is described as being close to the Whitestone Expressway, Throgs Neck Bridge, Whitestone Bridge, Cross Island Parkway, and the Van Wyck Expressway, with access to Grand Central mentioned as well.
Interested buyers and brokers can inquire about the residential conversion option and the potential to purchase either a single building or two buildings as part of the broader offering.
Key Highlights
- Office building built in 1955
- Central air conditioning
- Heating system listed as "3"
Local 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 | $234.3k | $50.40 |
| − Vacancy | −$30.2k | −$6.50 |
| EGI | $204.1k | $43.90 |
| − OpEx | −$51.0k | −$10.97 |
| NOI | $153.1k | $32.92 |
4,649 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,063 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,911 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - For sale office building with an available option for residential conversion and proximity to major area expressways and bridges.
Where is this office building located?
The property is located at 4029 FRANCIS LEWIS BLVD Flushing, NY.
What is the asking price?
The asking price for this property is $3,376,000.
What are key features of this property?
This property features: Office building built in 1955; Central air conditioning; Heating system listed as "3"
