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Property summary
Prime Queens location, 33,342 sq ft building on a 33,000 sq ft lot with 180 feet of frontage along Cross Bay Boulevard, one of Queens' most popular retail corridors, boasting 15,000 cars daily. Built in 2009, this property features two driveways and 38 rear parking spaces. Currently 100% occupied by Key Food, a subtenant of Walgreens, under a NNN lease with a remaining term of six years. The Walgreens master lease, expiring in 2029, provides a corporate guarantee and reliable cash flow, with… current rent at $1,090,000 annually. Key Food's sublease generates $515,000 annually. The property offers development rights for an additional 20,000+ sq ft, presenting expansion opportunities. The asking price of $15,500,000 reflects a 7.0% cap rate, with potential for significant market rent adjustments upon lease expiration, projecting a 6.0% to 6.5% average return over ten years. This presents a compelling investment opportunity with strong short-term returns and long-term growth potential. The substantial Key Food revenue of $4.4B in 2023 (across 360 locations) further underscores the property's value and stability. An end-user could potentially negotiate an early buyout of the Walgreens lease for earlier occupancy. Net rentable area is 9,767 sq ft.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax
No data for this sectionNo tax or assessment record is on file for this parcel in the county feed.
Value estimate
· Oct 2026No data for this sectionNo value estimate could be modeled: the record carries too little market input for this parcel.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
17 properties nearbyComparable nearby
Similar in This City for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 33,342 SF
- Year built
- 2009
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Signals, scores & lead lists
- 300 owner contacts a month
- 30 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- Signals, scores & lead lists
- 1500 owner contacts a month
- 150 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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