163-30 Cross Bay Boulevard, Howard Beach, Queens | Retail | $16,500,000

Home/Investment Sales/Exclusive Investment Sales/163-30 Cross Bay Boulevard, Howard Beach, Queens | Retail | $16,500,000

163-30 Cross Bay Boulevard, Howard Beach, Queens | Retail | $16,500,000

$16,500,000.00

  • Description: Retail building in prime Howard Beach
  • Neighborhood: Howard Beach
  • Lot Size: 33,342 SF
  • Zoning: R3-1, R2, C2-2
  • FAR: 0.5
  • Total Buildable: 33,342 SF +/-
  • Cross Streets: 163rd Avenue & 164th Avenue
  • Year Built: 2009
  • Nearby Retailers: TD Bank, Dunkin’ Donuts, T-Mobile, CVS Pharmacy, Petco, Subway & more
  • Asking Price: $ 16,500,000

Offering Memorandum

Details

  • Key Food property consisting of 9,767 square feet of built square footage.
  • The Key Food is currently subleasing the space from Walgreens.
  • The current lease contains a corporate guarantee by Walgreens Co.
  • The original 20-year triple-net (NNN) lease with Walgreens, commenced in October 2008 and expires in 2029.
  • The current annual rent is $978,880 and is subject to a 12% increase in 2024.
  • There are two ten-year tenant renewal options.
  • The property contains a drive-through with 35 parking spaces.
  • There is an additional 23,575 buildable square feet.
  • The asking price is $16,500,000 ~ please speak to exclusive agent for more details

Additional Information

City

Queens

Neighborhood

Howard Beach

Broker

Sadya Liberow

Map

 

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Contact Info

215-15 Northern Boulevard,
3rd Floor
Bayside, NY 11361

Phone: 646.586.2091

Fax: 646.767.6790

Web: www.assetcrg.com