Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 58-47 Francis Lewis Blvd
- Year built
- 1974
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This newly renovated (2023) three-story medical and office building, totaling 21,000 square feet (17,254 net rentable), is strategically located off the Long Island Expressway in Queens, NY, at 58-47 Francis Lewis Blvd, zip code 11364. Boasting 80% occupancy with 21 tenants, the property offers a strong pro-forma NOI of $357,405 and a 5.96% cap rate. The building, constructed in 1974, features a modern and elegant design with abundant natural light. Its prime location on Francis Lewis Boulevard provides tremendous exposure, benefiting from high traffic volume on both Francis Lewis Boulevard and the LIE. The convenient location offers easy access to other parts of Queens and is near St. Francis Preparatory School, Cunningham Park, and the Fresh Meadows Shopping Center (including Starbucks, Kohl's, and AMC Theatres). The property includes three parking spaces and is zoned R3-2, C1-2. The asking price is $6,000,000, translating to $285.71 per square foot. This presents a compelling investment opportunity in a thriving Queens location.
Value Estimations
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AI approach
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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
- -73.7761
- Latitude
- 40.7442
