Asset Commercial Realty Group has been exclusively retained to market 112-45 Springfield Blvd, a fully leased commercial Building in the Queens Village neighborhood of Queens.
The three tenant retail building spans a total of 10,200 SF with an 8,700 SF anchor tenant. The building is anchored by Dollar Tree Stores Inc. Dollar Tree has 10% rent increases every five years while the other two retail tenants have 3% rent increases every year.
The building is well positioned with great access to public transportation such as one block from the [Q27] & [Q83] buses, [Hempstead] & [Oyster Bay] LIRR lines, subway lines, and highways such as the Cross Island Parkway. Springfield Boulevard bustles with many retailers with a great amount of foot and car traffic.
Collectively, the asset produces a gross income of $332,990.04 with a total expense of $22,733 and yields an Net Operating Income (NOI) of $310,257.04. Tenants are responsible for all of their utility, water, electricity bills and are responsible to pay their share of tax increases.