Drug Store Ground Lease with Air
For Sale
Contact for pricing
Pending
163-20 Cross Bay Boulevard, Howard Beach, NY 11414
Walgreens corporate guarantee supports the lease, with 23,000 SF of air rights available for potential value-add.
Days on Market116
Property Features for 163-20 Cross Bay Boulevard
General Information
Standard status
Pending
Property subtype
Retail
Listing Agency:
ZEBRA Capital
Listed By:
Bosko Stankovic · License #WA 134582
Source:
Crexi
Added: Apr 10
Changed: Jul 21
Last Checked: Aug 1 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ZEBRA Capital
Investment Insights
Based on property information with market context.
This for-sale retail asset features a Walgreens corporate guarantee and includes a regional subtenant operating more than 60 stores across the Tri-State area. The property also offers 23,000 SF of air rights, creating an opportunity for value-add in the event of vacancy. Lease terms include sizable escalations every five years.
The property is set in an area with a strong mix of national and regional retailers, including banks and major food and service brands. Public remarks also cite population of over 240,345 within a three-mile radius and a median household income of $87,802.
Additional retailers listed in the surrounding area include Capital One, Chase, Citi, Santander, TD Bank, McDonald’s, Burger King, KFC, Chipotle, Subway, Planet Fitness, RiteAid, CVS, Dunkin’, Starbucks, GNC, GAP, Petco, and Red Wing Shoes.
The property is set in an area with a strong mix of national and regional retailers, including banks and major food and service brands. Public remarks also cite population of over 240,345 within a three-mile radius and a median household income of $87,802.
Additional retailers listed in the surrounding area include Capital One, Chase, Citi, Santander, TD Bank, McDonald’s, Burger King, KFC, Chipotle, Subway, Planet Fitness, RiteAid, CVS, Dunkin’, Starbucks, GNC, GAP, Petco, and Red Wing Shoes.
Key Highlights
- Walgreens corporate guarantee supports the lease.
- 23,000 SF of air rights available for potential value‑add in the event of vacancy.
- Lease includes sizeable lease escalations every 5 years.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11414, NY
27,320
Population
12,223
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
11,878
Density / Sq Mi
$98,209
Median Household Income
$66,162
Median Earnings
$1,991
Median Rent
$612,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Drug store - Walgreens corporate guarantee supports the lease, with 23,000 SF of air rights available for potential value-add.
Where is this drug store located?
The property is located at 163-20 Cross Bay Boulevard Howard Beach, NY.
What are key features of this property?
This property features: Walgreens corporate guarantee supports the lease.; 23,000 SF of air rights available for potential value‑add in the event of vacancy.; Lease includes sizeable lease escalations every 5 years.
