James Karpowicz
Property Description
Leased Class A office condominium investment at Flushing Commons, 38-08 Union Street, Unit 2E, Flushing. 2,392 rentable SF / 1,826 usable SF, 100% leased on a triple-net basis to an established healthcare-services tenant; tenant pays real estate taxes, insurance and operating expenses. Current annual NNN rent approx. $177,637 with 3% annual increases, a 6.68% cap rate at the asking price. Lease runs through 12/31/2028 with a 5-year renewal option 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 2J and 2K in the same building. Financial package available upon execution of a confidentiality agreement. Tenant occupied; 24-hour notice required for showings.
38-08 Union Street , Unit 2E | MLS# 1060438
This commercial property located at 38-08 Union Street , Unit 2E, Flushing, NY 11354 is currently listed for sale with an asking price of $2,660,000. 38-08 Union Street , Unit 2E is located within the Queens 25 school district. Search Flushing real estate on james-karpowicz.timberlandproperties.com today.
Gallery
Property Features
Property Type: Commercial - Office
Cooling: Central Air
Heating: Hot Air
Taxes: $9,336
Year Built: 2014
Feature Descriptions
Building Area Total: 2392
Business Type: Professional/Office
Days on Site: 3
Exterior: Other
On Market Date: 2026-10-08
Parcel Number: 04978-1308
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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38-08 Union Street , Unit 2E, Flushing, NY 11354
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Demographics
Listed By / Shown By
Listing By
Agency Name: Yaos Realty LLC
Agency Contact: 347-630-8888
Shown By
Agent Name: James Karpowicz
Agent Phone: (646) 942-8421 Cell
Agency Title: Timberland Properties
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38-08 Union Street , Unit 2E, Flushing, NY 11354
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