30-16 30Th Dr Queens, NY 11102

Property Details for 30-16 30Th Dr

Property size

15,600 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional Class A, seven-story medical office building, totaling 15,600 square feet, is situated in the vibrant Astoria neighborhood of Queens, New York. Located at 30-16 30th Drive, 11102, this multi-tenant property boasts 100% occupancy across 14 units, offering a compelling investment opportunity. The building features modern, clean units with spacious exam rooms, administrative areas, and consultation spaces. Current tenants represent a diverse range of medical specialties, including internal medicine, plastic surgery, dermatology, ENT, general and bariatric surgery, oncology, and podiatry. The asking price is $11,200,000, representing a compelling cap rate of 3.89% and a price per square foot of $821. Recent lease enhancements have significantly improved building financials, including a new five-year lease on a 1,500 square foot space at $44 per square foot with annual 3% increases, and two 1,500 square foot office leases with rent increases from $5,200 to $6,500 per month. The property sits on a 3,049 square foot lot and is conveniently located a short walk from Mount Sinai Hospital Queens. Complete financial statements are available upon request. This is a rare opportunity to acquire a fully occupied, high-performing medical office building in a prime location with strong tenant stability. The building is offered as a NNN lease.

Location Insight

City

Queens

County

Queens

State

New York

Longitude

-73.9231

Latitude

40.7652