Property
| Ownership: | For Sale |
|---|---|
| Type: | Unknown |
| Bedrooms: | Studio |
Financials
Listing Courtesy of Yaos Realty LLC
Leased Class A office condominium investment at Flushing Commons, 38 08 Union Street, Unit 2J doors 2J and 2J A, Flushing.
Description
Leased Class A office condominium investment at Flushing Commons, 38-08 Union Street, Unit 2J (doors 2J and 2J-A), Flushing. 3,866 rentable SF / 2,951 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. $287,101 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 2E and 2K in the same building. Financial package available upon execution of a confidentiality agreement. Tenant occupied; 24-hour notice required for showings.
Amenities
- Electricity Connected
- Water Connected

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.