1111 Astoria Blvd Queens, NY 11102
- Office Properties & Spaces
- 9,540 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 1111 Astoria Blvd
- Property size
- 9,540 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional two-story medical office building in Queens, NY, presents a compelling investment opportunity. Located at 1111 Astoria Blvd, zip code 11102, this Class C property boasts a total of 9,540 square feet, currently housing two tenants across multiple units. The building enjoys 100% occupancy with leases structured on a Net, Net, Net (NNN) basis, offering predictable income streams. Lease expirations are staggered, ranging from four to seven years, providing long-term stability and potential for future rent increases. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $493,595 and an attractive 7.00% capitalization rate. The asking price is $6,900,000, translating to a price per square foot of $723.27. This prime location in Queens County offers excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a stable, high-yielding asset in the thriving New York City medical market. The building's solid occupancy and lease terms, coupled with its strong financial metrics, make it a particularly attractive proposition. This is a rare opportunity to acquire a well-maintained, fully occupied medical office building in a desirable location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9305
- Latitude
- 40.7723
