Class A Office and Medical
608-37 Union St Flushing, NY 11354
608-37 Union St, Flushing, NY, 11354
$918,000
For Sale
$918,000
Flexible office/medical suite with floor-to-ceiling windows and private outdoor terrace in a 15-story tower.
Property Size786 SF
Price / SF$1,167
Days on Market476
Property Features for 608-37 Union St
General Information
- Standard status
- Active
- Size
- 786 SF
Listing agency
B Square Realty
(646) 889-9988
Listed by
Li Li
(646) 889-9988
Source
Exprealty
Added: Apr 3, 2025 Updated: Jul 21 at 3:13PM Checked: Jul 21 at 3:13PM
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 B Square Realty
Investment Insights
Based on property information with market context.
Unit 608 at Union Center is a flexible office/medical suite with approximately 786 square feet of space. The 15-story glass-fade building is designed for modern, high-demand commercial use and includes floor-to-ceiling windows and private outdoor terraces. Additional building highlights include VRF HVAC, energy-efficient curtain walls, and a fully automated robotic parking system by Stolzer.
Union Center is located in the heart of Downtown Flushing at 608-37 Union St, providing strong regional connectivity. The property is described as just one block from the Main Street 7 Train, close to the LIRR, and surrounded by 20+ MTA bus lines, with access to Manhattan, Brooklyn, Queens, and Long Island. The building is also positioned near major hospitals, banks, retail, dining, and highways.
The project is estimated for completion in Spring 2026 and is qualified for a 25-year tax abatement.
Union Center is located in the heart of Downtown Flushing at 608-37 Union St, providing strong regional connectivity. The property is described as just one block from the Main Street 7 Train, close to the LIRR, and surrounded by 20+ MTA bus lines, with access to Manhattan, Brooklyn, Queens, and Long Island. The building is also positioned near major hospitals, banks, retail, dining, and highways.
The project is estimated for completion in Spring 2026 and is qualified for a 25-year tax abatement.
Key Highlights
- Unit 608 offers approx. 786 SF of flexible office/medical space
- Floor‑to‑ceiling windows plus a private outdoor terrace
- 15‑story glass‑facade Class A commercial tower with modern building amenities
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 | $39.6k | $50.40 |
| − Vacancy | −$5.1k | −$6.50 |
| EGI | $34.5k | $43.90 |
| − OpEx | −$8.6k | −$10.97 |
| NOI | $25.9k | $32.92 |
786 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$369.7K
$323.5K – $431.3K
NOI $25,878 @ 7.0% cap · market cap 2.82%
Second Best
Healthcare Medical
$258.9K
$226.6K – $302.1K
NOI $18,124 @ 7.0% cap · market cap 1.97%
Theoretical Best
Office A
$579.4K
$507.0K – $676.0K
NOI $40,561 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Flexible office/medical suite with floor-to-ceiling windows and private outdoor terrace in a 15-story tower.
Where is this office units located?
The property is located at 608-37 Union St Flushing, NY.
What is the asking price?
The asking price for this property is $918,000.
What are key features of this property?
This property features: Unit 608 offers approx. 786 SF of flexible office/medical space; Floor‑to‑ceiling windows plus a private outdoor terrace; 15‑story glass‑facade Class A commercial tower with modern building amenities
