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Rego Park Retail Condo Opportunity

9273-9277 Queens Blvd, Rego Park, NY

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For Sale

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Retail condo with strong tenants in prime Rego Park location.

Type:RETAIL

Property size:

64,383 SF

Lot size:

0.49 Acres

Price / SF:

$621/SF

HighLights

Strong tenant roster with long‑term leases from Retro Fitness and Starbucks.
Net Operating Income (NOI) of $1,122,960.15 and a cap rate of 5.61%.
Located on a highly visible corner lot on Queens Boulevard in Rego Park.
Retail component includes Retro Fitness, Starbucks (with drive‑thru), and a parking garage.
Total of 42,532± rentable square feet.
Offered for sale as a separate retail condo.

We can help!

Listing Contact

Anand Melwani

Learn more

For Sale

Contact for pricing

Retail condo with strong tenants in prime Rego Park location.

Type:RETAIL

Property size:

64,383 SF

Lot size:

0.49 Acres

Price / SF:

$621/SF

Added:: Sep 18, 2024
Days on Market:: 635
Last Refresh:: May 20 at 9:18 pm

Property Features for 9273-9277 Queens Blvd

General Information

Standard status: Active
Size: 64,383 SF
Lot size: 0.49 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Anand Melwani

Listing agent Anand Melwani

Listing office ARM Real Estate Group

Listing date Sep 18, 2024

Source Moodyscre

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 ARM Real Estate Group

HighLights

Strong tenant roster with long‑term leases from Retro Fitness and Starbucks.
Net Operating Income (NOI) of $1,122,960.15 and a cap rate of 5.61%.
Located on a highly visible corner lot on Queens Boulevard in Rego Park.
Retail component includes Retro Fitness, Starbucks (with drive‑thru), and a parking garage.
Total of 42,532± rentable square feet.
Offered for sale as a separate retail condo.

Overview

The retail component of the mixed-use Wyndham Garden LaGuardia South property is available for sale. Located at 92-77 Queens Blvd in the Rego Park neighborhood of Queens, New York, the property is situated on a highly visible corner lot with frontage on Queens Boulevard. The retail component includes Retro Fitness, Starbucks, and a parking garage. The total rentable area is approximately 42,532 square feet, with Retro Fitness occupying 20,524 square feet, Starbucks occupying 2,461 square feet, and the parking garage providing 18,374 square feet. 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 occupies a prime ground-level space with favorable lease terms. The net operating income (NOI) for the retail component of the property is $1,122,960.15, and the cap rate is 5.61%. The area is home to a diverse mix of retail, dining, and entertainment options, and is easily accessible by public transportation and major highways.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$4.25M	$66.00
− Vacancy	−$276.2k	−$4.29
EGI	$3.97M	$61.71
− OpEx	−$993.3k	−$15.43
NOI	$2.98M	$46.28

64,383 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$42.57M

$37.25M – $49.66M (±1% cap)

NOI $2,979,806 @ 7.0% cap · market cap 7.45%

Second Best

Retail

$16.42M

$14.37M – $19.15M (±1% cap)

NOI $1,149,237 @ 7.0% cap · market cap 2.87%

Theoretical Best

Office A

$47.46M

$41.53M – $55.37M (±1% cap)

NOI $3,322,472 @ 7.0% cap · market cap 8.31%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Shopping centers

Suggested Use

Similar Places Nearby

Rego Center Mall - Lot #24 — 96-5 Queens Blvd, Rego Park, NY 11374
Condicioner — Address is, 92-63 Queens Blvd, Rego Park, NY 11374, United States
Angels Consultant Services Inc. — 1145, 95-20 63rd Rd, Rego Park, NY 11374
Wired Shops — 95-22 63rd Rd Suite 422, Rego Park, NY 11374
Rego Park Plaza — 96-18, 96-32 Queens Blvd, Flushing, NY 11375

Location Insight

Map
Local Demand

City: Rego Park
County: Queens
State: New York
Longitude: -73.8652
Latitude: 40.7322

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For sale
Shopping centers
NY
Rego Park
9273-9277 Queens Blvd

What type of property is this?

Shopping center - Retail condo with strong tenants in prime Rego Park location.

Where is this shopping center located?

The property is located at 9273-9277 Queens Blvd Rego Park, NY.

What is the asking price?

The asking price for this property is $40,000,000.

What are key features of this property?

This property features: Strong tenant roster with long‑term leases from Retro Fitness and Starbucks.; Net Operating Income (NOI) of $1,122,960.15 and a cap rate of 5.61%.; Located on a highly visible corner lot on Queens Boulevard in Rego Park.

9273-9277 Queens Blvd, Rego Park, NY

Retail condo with strong tenants in prime Rego Park location.

Property Features for 9273-9277 Queens Blvd

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Two-Family Home in Rego Park

Two-Family Residence with Private Driveway

Spacious Two-Family Home, Rego Park

Rego Park Office Investment Opportunity

Medical Office in Forest Hills

Established Tire Shop in Rego

Prewar Office Suite with Private Entrance

Rego Park Two-Family Home

Established Dental Business Condo For Sale

Renovated Two-Family Home, Rego Park

Rego Park Two-Family Home

Two-Family Home in Rego Park

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