37-62 82 St Queens, NY 11372
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Prime Jackson Heights location, 14,000 sq ft, high NOI.
Property size:
14,000 SFProperty Features for 37-62 82 St
General Information
- Property type
- Individual retail properties
- Square Feet
- 14,000 SF
- Class
- A
Building Details
- Year Built/Renovated
- 1928/2011
- Stories
- 2
- Units
- 3
Listing Agency: Exp Realty Bkny Listing Agent: Victor Kraiem
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional mixed-use property in Jackson Heights, Queens offers a compelling investment opportunity. Located on 82nd Street, this two-story, 14,000 square foot building sits on a 7,000 square foot lot and boasts a 7.31% cap rate with a strong NOI of $1,225,000. Currently 100% occupied with three tenants, including Walgreens, under a triple net lease with a remaining term of approximately 1.1 years until December 30, 2025. The building, constructed in 1928 and renovated in 2011, features a new roof, boilers, and HVAC system. The C4-3 zoning allows for significant development potential, with 11,685 square feet of available air rights. The property's prime location near the 7 train subway line ensures high visibility and accessibility. This is a value-add investment with a ground lease expiring concurrently with the existing leases. The asking price is $16,750,000, representing a price per square foot of $1,196.43. The net rentable area is 12,115 square feet. This presents a rare chance to acquire a well-located, income-producing asset with substantial upside potential.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.883980404132
- Latitude
- 40.747989147662
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FAQs
What type of property is this?
Individual retail property - Prime Jackson Heights location, 14,000 sq ft, high NOI.
Where is this individual retail property located?
The property is located at 37-62 82 St Queens, NY.
What is the asking price?
The asking price for this property is $16,750,000.
What are key features of this property?
This property features: Exceptional mixed-use investment opportunity in Jackson Heights, Queens.; Prime 82nd Street location with high pedestrian and vehicular traffic, steps from the 7 train.; 14,000 SF building on a 7,000 SF lot, currently 100% occupied with a strong NOI of $1,225,000 and a 7.31% cap rate.
