10-64 Jackson Ave Long Island City, NY 11101
- Day care centers
- 6,398 SF
Current Use by Public Records
- Day care centers
Property Details for 10-64 Jackson Ave
- Year built
- 2023
- Property size
- 6,398 SF
- Property type
- Day care centers
- Property subtype
- Retail properties
Description
This exceptional 6,398 square foot retail condominium, built in 2023, presents a compelling investment opportunity in Long Island City, Queens. Located at 10-64 Jackson Avenue, this two-story property boasts 143 feet of impressive frontage along Jackson and 50th Avenues, offering unparalleled visibility. The ground floor features 4,395 square feet of retail space with soaring 20-foot ceilings, while the lower level provides an additional 2,023 square feet with 15-foot ceilings. Currently, a dental practice occupies 3,600 square feet of the ground floor under a 10-year lease with a 3% annual rent increase and five-year renewal options. The property benefits from a 15-year ICAP tax abatement extending to 2039, significantly reducing tax burdens. The building is conveniently situated directly across from the 7 train (Vernon Blvd-Jackson Avenue Station), providing easy access to Manhattan. The Certificate of Occupancy permits all retail uses, offering flexibility for future tenants. The asking price is $4,200,000, representing a price per square foot of $656.46, with a current NOI of $204,700 and a pro-forma NOI of $307,275, yielding a pro-forma cap rate of 7.32%. The property includes an elevator connecting the ground and lower levels and is fully serviced with utilities. This is a rare chance to acquire a brand-new, high-impact retail space in a prime Long Island City location. The zoning is R7X.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Long Island City
- County
- Queens
- State
- New York
- Longitude
- -73.9522
- Latitude
- 40.7425
