Apt: 2K
New York, NY 11354

Property

Ownership: For Sale
Type: Unknown
Bedrooms: Studio

Financials

Price:$4,110,000
Annual Taxes:$14,426.20
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Yaos Realty LLC

Leased Class A office condominium investment at Flushing Commons, 38 08 Union Street, Unit 2K, Flushing.

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.

Amenities

  • Electricity Connected
  • Water Connected

Long Island MLS

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.