112-45 Springfield Boulevard, Queens Village | Retail Asset | $5,400,000

Home/Investment Sales/Exclusive Investment Sales/112-45 Springfield Boulevard, Queens Village | Retail Asset | $5,400,000

112-45 Springfield Boulevard, Queens Village | Retail Asset | $5,400,000

$5,400,000.00

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.

Offering Memorandum

Details

  • 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.
  • Ownership has set the asking price at $5,400,000 which reflects a 5.75% CAP rate.

Additional Information

City

Queens

Neighborhood

Queens Village

Broker

Albert Aranbaev

Price

5,400,000

Map

 

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Our strong relationships with national retailers & office tenants, the broader real estate community, brokers, contractors, architects, engineers, attorneys, and local municipalities offer significant benefits to property owners. We're proud to provide the most comprehensive investment sales, leasing, and property management services across Metropolitan New York and Long Island.

Contact Info

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

Phone: 646.586.2091

Fax: 646.767.6790

Web: www.assetcrg.com