Amar Chhibbar
Call: (646) 300-4585
Text: (646) 300-4585
MLS#1060447
STATUSActive
PROPERTY TYPECommercial - Office
SCHOOLQueens 25
Property 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.
Property Features
Property Type: Commercial - Office
Cooling: Central Air
Heating: Hot Air
Taxes: $14,426
Year Built: 2014
Feature Descriptions
Building Area Total: 3696
Business Type: Professional/Office
Exterior: Other
On Market Date: 2026-10-08
Parcel Number: 04978-1314
Property Attached Y/N: 1
Rental Term: Monthly
Sewer: Public Sewer
Utilities: Electricity Connected, Water Connected
Water: Public
Local Schools
School District: Queens 25
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Listed By / Shown By
Listing By
Agency Name: Yaos Realty LLC
Agency Contact: 347-630-8888
Shown By
Agent Name: Amar Chhibbar
Agent Phone: (646) 300-4585
Agency Title: Laffey Real Estate
38-08 Union Street , Unit 2K | MLS# 1060447
This commercial property located at 38-08 Union Street , Unit 2K, Flushing, NY 11354 is currently listed for sale with an asking price of $4,110,000. 38-08 Union Street , Unit 2K is located within the Queens 25 school district. Search Flushing real estate on amarchhibbar.laffey.com today.