Mixed-Use Building in Rego
92-77 Queens Blvd Queens, NY 11374
92-77 Queens Blvd, Queens, NY, 11374
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For Sale
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Fully leased mixed-use building with hotel and retail components.
Property Size64,383 SF
Price / SF$617.40
Days on Market684
Property Features for 92-77 Queens Blvd
General Information
- Standard status
- Active
- Size
- 64,383 SF
- Property subtype
- Hospitality, Mixed Use
Building Details
- Year Built
- 2015
Listing Agency
Besen Partners
(415) 889-3314
Listed by
Ronald H. Cohen · License #NY 40CO0983987
Source
Crexi
Added: Sep 5, 2024 Updated: Jul 10 at 11:24 am Checked: Jul 20 at 6:41 am
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
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.
Local Financial Insights For 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 | $1.93M | $30.00 |
| − Vacancy | −$289.7k | −$4.50 |
| EGI | $1.64M | $25.50 |
| − OpEx | −$492.5k | −$7.65 |
| NOI | $1.15M | $17.85 |
64,383 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hotels
Similar For Sale Nearby
FAQs
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.
