Tyler Prokosch - John J Lease Realtors Logo
$4,110,000
( $1112.01Per Sq Foot )
 $22,063 est/mo Sourced by Back At You

38-08 Union Street 2k,Flushing, NY 11354

Flushing, NY 11354

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Description

Leased Class A office condominium investment at Flushing Commons, 38-08 Union Street, Unit 2K, Flushing. 3,696 rentable SF / 2,821 usable SF, 100% leased as two suites (2K-1 and 2K-2) on a triple-net basis to two established healthcare-services tenants; tenants pay real estate taxes, insurance and operating expenses. Current combined annual NNN rent approx. $274,476 with 3% annual increases, a 6.68% cap rate at the asking price. Leases run through 12/31/2028 with 5-year renewal options to 12/31/2033. 25-year real estate tax abatement commencing 2019 (per owner). Class A office building within the 1.8M SF Flushing Commons mixed-use development, with 24/7 security and concierge, high-speed elevators and an on-site public parking garage, steps from the Flushing-Main St 7 train, LIRR and buses. Also available: Units 2E and 2J in the same building. Financial package available upon execution of a confidentiality agreement. Tenant occupied; 24-hour notice required for showings.

Details

MLS #1060447
Listing TypeFor Sale
StyleOffice
Building NameFlushing Commons
Sub-TypeResale
StatusActive
Year2014
Days On Site27
Listing Provided ByYaos Realty LLC | Jianfeng Yao

Features

SQ Feet3,696

Interior

CoolingCentral Air
HeatingHot Air

Exterior

Construction MaterialsOther
Foundation DetailsOther

Utilities

UtilitiesElectricity Connected, Water Connected
SewerPublic Sewer

Taxes

Tax Year2026
Tax Assessed Value352484
Tax Annual Amount14426.2
Tax Lot1314

Area Information

StateNY
CountyQueens
CityFlushing
Zip Code11354
Listing VS Median (in 11354)
Price:
$4,110,000
low | high
Med:
$709,000
100% of Average
sqft:
3,696
low | high
Med:
797
100% of Average
$ / sqft:
$1,112
low | high
Med:
$894
69.584537300767% of Average
On site:
27
low | high
Med:
104.5
25.837320574163% of Average
Sourced by Back At You

Market Activity 11354

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Tyler Prokosch

Tyler Prokosch

John J Lease REALTORS

 (845) 542-6966tylerprokosch@johnjleaserealtors.com
StateNY
CountyQueens
CityFlushing
Zip Code11354
Listing VS Median (in 11354)
Price:
$4,110,000
low | high
Med:
$709,000
100% of Average
sqft:
3,696
low | high
Med:
797
100% of Average
$ / sqft:
$1,112
low | high
Med:
$894
69.584537300767% of Average
On site:
27
low | high
Med:
104.5
25.837320574163% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $3.082M - $5.137M
sqft: 2,500 - 4,500
Nearby Listings Property ImageNearby Listings Details
38-08 Union Street 2J Property Photo 1
$4,300,000
38-08 Union Street 2j
Flushing, NY 11354
3808 Union Street 11A Property Photo 1
$4,700,000
3808 Union Street 11a
Flushing, NY 11354
Listing Updated: October 9, 2026 at 2:50:30 AM PDT

Tyler Prokosch - John J Lease Realtors