186-16 Un Tpke Queens, NY 11366

This exceptional 29,407 square foot shopping center in Queens, New York, presents a compelling investment opportunity. Boasting a 100% occupancy rate with nine tenants, including a prominent New York City Department of Education Universal Pre-K center, this property offers strong, stable income. The center features 290 feet of prime retail frontage along Union Turnpike in the highly desirable Fresh Meadows neighborhood. Built in 1941, the single-story building sits on a 34,200 square foot lot and includes 19 parking spaces. The current Net Operating Income (NOI) is $1,107,228, with a projected NOI of $1,133,817, yielding a 6.15% cap rate and a pro-forma cap rate of 6.30%. The asking price is $18,000,000, translating to $612.10 per square foot. Tenants benefit from annual rent bumps, and the property is zoned C1-2/R2A. The Universal Pre-K center enjoys a 10% rent increase every five years, starting September 1, 2027. This is a rare chance to acquire a fully occupied, multi-tenant retail asset in a prime Queens location with significant frontage. The property consists of two separate tax lots.