13
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$4,110,000
Est. payment /mo
New
38-08 Union ST #2K Flushing, NY 11354
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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1060447
Rental Info No
Year Built 2014
Annual Tax Amount $14,426
Property Sub-Type Office
Source onekey2
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.
Location
State NY
County Queens
Interior
Heating Hot Air
Cooling Central Air
Fireplace No
Exterior
Utilities Available Electricity Connected, Water Connected
Building
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Other
Schools
High Schools Queens 25
School District Queens 25
Others
Special Listing Condition None
Listed by Yaos Realty LLC • Jianfeng Yao
NEARBY SCHOOL & BUSINESS
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