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    188-02 Springfield Gardens, NY

    For Sale
    $5,750,000

    Retail property with T-Mobile, restaurant tenants, and redevelopment potential.

    Property size:
    13,600 SF
    Lot size:
    0.34 Acres

    Property Features for 188-02

    General Information

    Size
    13,600 SF
    Lot size
    0.34 Acres

    Source: Ariel Property Advisors Agent Alexander Taic

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Property in Springfield Gardens

    The property, suitable for retail and restaurant businesses, currently houses a T-Mobile store and a popular local restaurant, with two vacant units available. Each unit includes both ground floor and basement space, each with equal square footage. The property provides 20 parking spaces. Situated near the intersection of Merrick Boulevard and Springfield Boulevard, the location benefits from high vehicular traffic due to the presence of numerous national and local retailers in the immediate area. The surrounding residential neighborhood offers a substantial customer base for the tenants. Its location allows for convenient access to Long Island, Queens, Brooklyn, and JFK.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Map

    City
    Springfield Gardens
    County
    Queens
    State
    New York
    Longitude
    -73.7939324
    Latitude
    40.7053977

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    FAQs

    What type of property is this?
    Strip mall - Retail property with T-Mobile, restaurant tenants, and redevelopment potential.
    Where is this strip mall located?
    The property is located at 188-02 Springfield Gardens, NY.
    What is the asking price?
    The asking price for this property is $5,750,000.
    What are key features of this property?
    This property features: - Property currently hosts a T-Mobile and a popular local restaurant, providing immediate income.; - Opportunity for ownership to re-tenant vacancies or for the buyer to do so.; - **Excellent location adjacent to the intersection of Merrick Blvd and Springfield Blvd.**
    (212) 544-9500
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    188-02 Springfield Gardens, NY
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