154-01 Union Tpke Fresh Meadows, NY 11367
- Retail properties
- 3,801 SF
Current Use by Public Records
- Retail properties
Property Details for 154-01 Union Tpke
- Year built
- 1950
- Property size
- 3,801 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a four-unit retail building located at 154-01 Union Turnpike in Fresh Meadows, Queens, New York, 11367. The property boasts a total of 3,801 square feet of net rentable space, situated on a 5,430 square foot lot (60' x 90'). Originally built in 1950 and extensively renovated in 2020, the single-story building features a 15' roof. Three of the four units are equipped for restaurant use, making it ideal for a variety of food service businesses or other retail ventures. The property benefits from its prime corner location on Union Turnpike, ensuring high visibility and significant foot and car traffic. Its proximity to hospitals and St. John's University further enhances its appeal. The building is currently vacant, presenting a blank canvas for a new owner to customize and lease to tenants. The asking price is $3,625,000, representing a price per square foot of $953.70 and a pro-forma cap rate of 5.79%, with a pro-forma NOI of $210,024. The property is zoned R4/C1-2. This is a rare opportunity to acquire a well-located, renovated retail property in a thriving Queens neighborhood.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fresh Meadows
- County
- Queens
- State
- New York
- Longitude
- -73.8098
- Latitude
- 40.72
