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About the Listing YAO01 - 159613
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.
Listing Highlights for 38-08 Union Street 2e
Interior Details
- Appliances:
- Air Cond: Central Air
- Heating: Hot Air
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $9,337
- Taxes w/Assessments: N/A
- Tax/Property ID: 04978-1308
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
38-08 Union Street 2e Flushing, NY 11354
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