163-45 Cross Bay Blvd Queens, NY 11414
- Retail properties
- 2,730 SF
Current Use by Public Records
- Lil Cricket Too Rentals / Finishing Materials Supplier
Property Details for 163-45 Cross Bay Blvd
- Property size
- 2,730 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional single-tenant medical building, located at 163-45 Cross Bay Blvd in Queens, NY 11414, presents a compelling investment opportunity. The 2,730 square foot property, renovated in 2018, boasts a strong franchisee tenant under a Net Net + lease with 15 years remaining. The current asking price is $3,000,000, translating to a price per square foot of $1,098.90 and a compelling 6.17% cap rate. The property generates a Net Operating Income (NOI) of $185,000 annually, with a 3% annual lease increase built in. Situated in a prime location with high traffic and waterfront views, the building includes 14 parking spaces. The property is zoned R3-1, C2-2, and enjoys 100% occupancy. This is a rare opportunity to acquire a stable, high-performing asset in a desirable Queens location. The building's strong tenant, long-term lease, and excellent financial performance make it an ideal addition to any investment portfolio. The single-story building offers convenient access and ample parking, further enhancing its appeal.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8374
- Latitude
- 40.6512
