Mixed-Use Building in Rego
For Sale
Contact for pricing
92-77 Queens Blvd, Queens, NY 11374
Fully leased mixed-use building with hotel and retail components.
Property Size64,383 SF
Price / SF$617.40
Days on Market776
Property Features for 92-77 Queens Blvd
General Information
Standard status
Active
Size
64,383 SF
Total Parking Spaces
80
Property subtype
Hospitality, Mixed Use
Zoning
R7-1, C2-2
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$2,542,820
Building Details
Year Built
2015
Year Renovated
2017
Buildings
2
Stories
4
Units
4
Tenancy
Multi
Listing Agency:
Besen Partners
Listed By:
Ronald H. Cohen · License #NY 40CO0983987
(646) 424-5317
Source:
Crexi
Added: Sep 5, 2024
Changed: Oct 19
Last Checked: Oct 19 at 6:15AM
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 Besen Partners
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Investment Insights
Based on property information with market context.
The property at 92-77 Queens Blvd, Rego Park, NY 11374, is a 100% net-leased mixed-use building featuring a 50-key hotel and retail spaces. The retail component, totaling 41,359 square feet, includes Retro Fitness (20,524 square feet), Starbucks (2,461 square feet), and a Target parking garage (18,374 square feet). The property is located on a highly visible corner lot with frontage on Queens Boulevard. Retro Fitness has a triple-net lease with an initial term of 10 years and two 5-year renewal options. Starbucks includes a drive-thru lane and has a lease with favorable terms. Community Housing occupies 19,000 square feet and recently signed a 10-year lease with options. The current net operating income (NOI) is approximately $2,540,000. The property is located in the Rego Park neighborhood of Queens, which offers a mix of retail, dining, and entertainment options, with accessibility to public transportation and major highways.
Key Highlights
- 100% net leased mixed‑use building featuring a hotel and retail spaces, including Retro Fitness, Starbucks, and Community Housing.
- Prime location in Rego Park, Queens, offering excellent frontage on Queens Boulevard.
- Substantial rentable square footage: approximately 41,359 sq ft of retail space plus a 50‑key hotel.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,149,237
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$22,984,740
$23.0M
Cap Rate 7%
$16,417,671
$16.4M
Cap Rate 9%
$12,769,300
$12.8M
Market Conditions
NOI Build-Up for 64,383 SF
Gross rent
$1.93M $30.00/SF
− Vacancy
−$289.7K −$4.50/SF
EGI
$1.64M $25.50/SF
− OpEx
−$492.5K −$7.65/SF
NOI
$1.15M $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$22,984,740
Cap Rate 7%
$16,417,671
Cap Rate 9%
$12,769,300
Alternative Uses
Best Use
Retail
$16.42M
$14.37M – $19.15M
NOI $1,149,237 @ 7.0% cap · market cap 2.89%
Second Best
Mixed Use
$11.84M
$10.36M – $13.81M
NOI $828,609 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$47.46M
$41.53M – $55.37M
NOI $3,322,472 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,784
Businesses Nearby
162k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 39%
Hotels & Casinos 12%
McDonald's
Dining
44,795 visits/mo
0.4 miles
Speedway
Shops & Services
20,004 visits/mo
0.5 miles
Dollar Tree
Shops & Services
16,009 visits/mo
0.5 miles
BP
Shops & Services
12,177 visits/mo
0.5 miles
BP
Shops & Services
11,939 visits/mo
0.0 miles
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use building with hotel and retail components.
Where is this mixed-use property located?
The property is located at 92-77 Queens Blvd Queens, NY.
What is the asking price?
The asking price for this property is $39,750,000.
What are key features of this property?
This property features: 100% net leased mixed‑use building featuring a hotel and retail spaces, including Retro Fitness, Starbucks, and Community Housing.; Prime location in Rego Park, Queens, offering excellent frontage on Queens Boulevard.; Substantial rentable square footage: approximately 41,359 sq ft of retail space plus a 50‑key hotel.
