Prime Jackson Heights Investment
37-62 82nd St Queens, NY 11372
37-62 82nd St, Queens, NY, 11372
Contact for pricing
For Sale
Contact for pricing
Two-story mixed-use building in high-traffic area, fully leased.
Property Size14,000 SF
Lot Size0.16 Acres
Price / SF$1,142
Days on Market644
Property Features for 37-62 82nd St
General Information
- Standard status
- Active
- Size
- 14,000 SF
- Lot size
- 0.16 Acres
- Property subtype
- Mixed Use, Office, Retail
Building Details
- Year Built
- 1928
Listing agency
Exp Realty Bkny
(917) 292-5551
Listed by
VICTOR KRAIEM · License #10401372466
Source
Crexi
Added: Oct 16, 2024 Updated: Jul 6 at 8:21AM Checked: Jul 17 at 1:00PM
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 Exp Realty Bkny
Investment Insights
Based on property information with market context.
Located in Jackson Heights, this two-story mixed-use building at 37-62 82nd Street features a 70-foot frontage and a depth of 100 feet. The building occupies a 7,000 square foot lot, with a total building size of 12,115 square feet across two stories and a basement. The property is situated steps away from the 7 train, providing access to Manhattan and other parts of Queens. Significant updates were completed in 2011, including a new roof, boilers, and HVAC system. Zoned C4-3, the property allows for a total buildable area of 11,685 square feet, with the potential to add two more floors. The property is fully leased, with Duane Reade occupying the ground floor under a double net lease. The second floor is rented to long-term tenants, including a language school and a dental practice. The area experiences heavy foot traffic and is home to retailers such as Gap, Skechers, Foot Locker, Target, Banana Republic, Old Navy, Carters, Pandora, Sephora, FedEx, AT&T, T-Mobile, McDonald's, Shake Shack, Chase Bank, Capital One Bank, Bank of America, United Healthcare, and Mount Sinai. The property represents an investment opportunity for commercial real estate.
Key Highlights
- Prime location in Jackson Heights, steps from the 7 train, offering quick access to Manhattan and Queens.
- Fully leased with Duane Reade (master lease) on the ground floor and long‑term tenants on the second floor, providing immediate income.
- Double net lease structure with Duane Reade ensures minimal landlord responsibilities.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $924.0k | $66.00 |
| − Vacancy | −$60.1k | −$4.29 |
| EGI | $863.9k | $61.71 |
| − OpEx | −$216.0k | −$15.43 |
| NOI | $648.0k | $46.28 |
14,000 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$9.26M
$8.10M – $10.80M
NOI $647,955 @ 7.0% cap · market cap 4.05%
Second Best
Office B
$6.58M
$5.76M – $7.68M
NOI $460,933 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$10.32M
$9.03M – $12.04M
NOI $722,467 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building in high-traffic area, fully leased.
Where is this mixed-use property located?
The property is located at 37-62 82nd St Queens, NY.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: Prime location in Jackson Heights, steps from the 7 train, offering quick access to Manhattan and Queens.; Fully leased with Duane Reade (master lease) on the ground floor and long‑term tenants on the second floor, providing immediate income.; Double net lease structure with Duane Reade ensures minimal landlord responsibilities.
