38-08 Union Street, 2K, New York, NY, 11354
$4,110,000
activeYear Built
2014
Type
Commercial
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
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.
Listed by Jianfeng Yao, Yaos Realty LLC
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