Medical Office
For Sale
$3,900,000
42-35 Main Street #CF- 2H, Flushing, NY 11355
The 2013 building has staffed entry, on-site management, and ground-floor retail.
Property Size5,656 SF
Price / SF$689.53
Days on Market180
Property Features for 42-35 Main Street #CF- 2H
General Information
Standard status
Active
Size
5,656 SF
Total Parking Spaces
280
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Tenant in Place
Yes
Property Use
Office
Amenities
doormen
security guards
on-site superintendents
Handyman
retail shops on ground floor
Building Details
Building Size
5,656 SF
Year Built
2013
Buildings
1
Tenancy
Single
Listing Agency:
All County Realty & Mgmt Corp
Listed By:
Mei J. Juan
(917) 863-4342
Source:
Croninreale
Added: Apr 28
Changed: Oct 23
Last Checked: Oct 23 at 5:50PM
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 All County Realty & Mgmt Corp
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 5,656-square-foot medical office condominium is in a mixed-use building completed in 2013. Building services include doormen, security guards, on-site superintendents, and handyman support. Retail shops occupy the ground floor, and 280 garage parking spaces are available. The property has a 15-year ICAP tax abatement.
The office is in Downtown Flushing, with access to the #7 subway line, express and local buses, commuter minibuses, and the LIRR. Major highways and airports are also accessible. Banks, a post office, stores, restaurants, supermarkets, and the botanical garden are nearby.
The existing tenant may remain or vacate, providing flexibility for an owner-occupant or an investor considering continued occupancy.
The office is in Downtown Flushing, with access to the #7 subway line, express and local buses, commuter minibuses, and the LIRR. Major highways and airports are also accessible. Banks, a post office, stores, restaurants, supermarkets, and the botanical garden are nearby.
The existing tenant may remain or vacate, providing flexibility for an owner-occupant or an investor considering continued occupancy.
Key Highlights
- 5,656‑square‑foot medical office condominium
- Built in 2013 with a 15‑year ICAP tax abatement
- 280 garage parking spaces available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,217
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,724,340
$3.7M
Cap Rate 7%
$2,660,243
$2.7M
Cap Rate 9%
$2,069,078
$2.1M
Market Conditions
NOI Build-Up for 5,656 SF
Gross rent
$285.1K $50.40/SF
− Vacancy
−$36.8K −$6.50/SF
EGI
$248.3K $43.90/SF
− OpEx
−$62.1K −$10.97/SF
NOI
$186.2K $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%
$3,724,340
Cap Rate 7%
$2,660,243
Cap Rate 9%
$2,069,078
Alternative Uses
Best Use
Office B
$2.66M
$2.33M – $3.10M
NOI $186,217 @ 7.0% cap · market cap 4.77%
Second Best
Healthcare Medical
$1.86M
$1.63M – $2.17M
NOI $130,416 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$4.17M
$3.65M – $4.86M
NOI $291,877 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,813
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Pet care Animal Clinic — 43-73 156th St, Queens, NY 11355
Frequently Asked Questions
What type of property is this?
Medical Office Space - The 2013 building has staffed entry, on-site management, and ground-floor retail.
Where is this medical office space located?
The property is located at 42-35 Main Street #CF- 2H Flushing, NY.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 5,656‑square‑foot medical office condominium; Built in 2013 with a 15‑year ICAP tax abatement; 280 garage parking spaces available
