138-02 Northern Blvd Queens, NY 11354
- Retail properties
- 8,314 SF
Current Use by Public Records
- Retail properties
Property Details for 138-02 Northern Blvd
- Property size
- 8,314 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a rare chance to acquire a trophy corner property at 138-02 Northern Boulevard in the heart of Downtown Flushing, Queens, New York. The property, a single-story, 8,314 square foot building, is currently fully occupied under a triple-net lease with Bank of Hope, a tenant with a proven track record. This location boasts the highest deposit volume among all Bank of Hope branches. The lease extends until March 2032, providing long-term stability and predictable income. The asking price is $12,500,000, translating to $1,503.49 per square foot. Beyond the existing building, significant development potential exists. The property includes substantial air rights, totaling 48,787 square feet, allowing for the construction of approximately 43,000+ additional square feet. The 11,328 square foot lot provides ample space for expansion. Conveniently located just four blocks from the Flushing-Main Street subway station, this property benefits from excellent accessibility and high foot traffic. Nine parking spaces are also included. This irreplaceable corner property has been under the same ownership for over 45 years, representing a unique opportunity for a discerning investor.
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
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8282
- Latitude
- 40.7638
