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Property profile & analytics

79-21 Queens Blvd Queens, NY 11373

  • Office Properties & Spaces
  • 7,563 SF
  • 0.20 lot acres
Value Estimations
Cap Rate Potential
Location Intelligence

Current Use by Public Records

  • Davita Kidney Care / Medical Clinic
  • DaVita / Medical Clinic

Property Details for 79-21 Queens Blvd

Lot size
0.20 lot acres
Property size
7,563 SF
Property type
Office Properties & Spaces
Property subtype
Medical offices

Description

This exceptional investment opportunity presents a fee-simple interest in a 7,563-square-foot medical office building located at 79-21 Queens Blvd, Queens, NY 11373. The property, situated on a 0.2-acre lot, is a single-story building completely renovated in 2021 to the tenant's specifications. The building is currently 100% occupied by DaVita, Inc., under a 15-year net lease with a corporate guarantee, offering significant long-term stability. The lease includes three 5-year renewal options and a 10% rent increase every five years, ensuring consistent income growth. The property boasts a strong 5.65% cap rate and a net operating income (NOI) of $475,713, with an asking price of $8,419,694 ($1,113.27/sq ft). The building's prime location along Queens Boulevard, near the Long Island Expressway and LaGuardia Airport, benefits from high visibility and excellent accessibility. The surrounding area demonstrates strong demographics, with a population of approximately 2.52 million within a five-mile radius and an average household income exceeding $111,000 annually. This investment is further strengthened by the tenant's leading position in the healthcare industry, the recession-resistant nature of the medical sector, and the absence of early termination clauses. The property represents a compelling opportunity for long-term, passive income generation with built-in rent growth. The DaVita lease is a standard form used across the majority of their 2,800 locations, minimizing landlord expense exposure.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

  • CAP approach

  • Comparable approach

  • Alternative Use


Location Insight

  • Map
  • Local Demand
City
Queens
County
Queens
State
New York
Longitude
-73.8838
Latitude
40.7384
More about this property
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