186-16-187-06 Union Tpke - Storefront FOR SALE


Fresh Meadows, NY 11366
$18,000,000 USD
212-430-5229
186-16-187-06 Union Tpke, Fresh Meadows, NY for Sale
$18,000,000 USD
Storefront - FOR SALE
1/8
null | 6.15% Cap Rate

186-16-187-06 Union Tpke
Fresh Meadows, NY 11366


HIGHLIGHTS

  • 29,407 SF, 100% Occupied Shopping Center
  • Nine-Tenant Multi-Tenant Retail Offering Anchored by the New York City Department of Education
  • 290 Feet of Retail Frontage on Union Turnpike
  • Located in One of the Best Residential Neighborhoods in Queens (Fresh Meadows)

OVERVIEW

Marcus & Millichap is pleased to present for sale 186-16 -187-12 Union Turnpike, a 29,407 SF, 100% occupied shopping center located in Fresh Meadows (Queens), New York. The offering consists of nine stores, and it is anchored by a brand new 11,907 SF NYC Department of Education Universal Pre-K center. The property rests on a combined 34,200 SF lot with dedicated parking for 19 cars. The offering has 290 feet of retail frontage along Union Turnpike, the main retail corridor in Fresh Meadows, one of the most desirable residential neighborhoods in Queens. The site is surrounded by local retailers, and it benefits from outstanding Fresh Meadows demographics. The offering is comprised of two separate tax lots. The NYC Universal Pre-K center has a 10% increase every five years, with the first increase coming September 1, 2027. All other tenants have annual increases, and all tenants are responsible for a proportionate share of real estate taxes above their base years. This is the incredibly rare opportunity to acquire a fully occupied multi-tenant retail asset in one of Queens’ top neighborhoods with just under 300 feet of contiguous retail frontage.

FOR SALE DETAILS

PRICE

$18,000,000 USD

PRICE/SF

$646 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Queens Shopping Center - 100% Occupied

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1941

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,870 SF

ZONING

R2A

APN/PARCEL ID

07256-0101

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
212-430-5229

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Scott PlaskyMarcus & MillichapMore Info
212-430-5229

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.