Medical Office
For Sale
$3,900,000
42-35 Main Street Cf- 2h, Flushing, NY 11355
Staffed building amenities and ground-floor retail serve this office within a mixed-use property.
Property Size5,656 SF
Price / SF$689.53
Days on Market9
Property Features for 42-35 Main Street Cf- 2h
General Information
Standard status
Active
Size
5,656 SF
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 the ground floor
No
Public
280
Garage, On Street
Other
5656
Building Details
Building Size
5,656 SF
Year Built
2013
Listing Agency:
(516) 703-2918
Listed By:
John Taylor
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 29
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 John Taylor
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Investment Insights
Based on property information with market context.
This 5,656-square-foot medical office condo is in a mixed-use building completed in 2013. Building services include doormen, security guards, on-site superintendents and handyman support, with retail businesses at ground level. The existing tenant may remain or vacate, providing flexibility for the next owner.
The property is in Downtown Flushing, near the #7 subway line, express and local buses, commuter minibuses and the LIRR. Major highways and airports are also accessible. Banks, a post office, shops, restaurants, supermarkets and a botanical garden are nearby. The building has 280 garage parking spaces available and offers a 15-year ICAP tax abatement.
The property is in Downtown Flushing, near the #7 subway line, express and local buses, commuter minibuses and the LIRR. Major highways and airports are also accessible. Banks, a post office, shops, restaurants, supermarkets and a botanical garden are nearby. The building has 280 garage parking spaces available and offers a 15-year ICAP tax abatement.
Key Highlights
- 5,656‑square‑foot medical office condo
- 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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9,906
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- College Point Veterinary Center — Flushing, NY 11357
- Dr. Perkins — 33-26 Union St, Queens, NY 11354
Frequently Asked Questions
What type of property is this?
Medical Office Space - Staffed building amenities and ground-floor retail serve this office within a mixed-use property.
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 condo; 15‑year ICAP tax abatement; 280 garage parking spaces available
