- AssetCRG represented both the buyer and the seller
- Sold For: $ 5,500,000
- Asset Type: Retail Property
- Square Footage: 13,250
- CAP: 6.5 %
127-01 / 23 Merrick Boulevard, Jamaica NY | Retail Strip | $ 5,500,000
Details
Asset Commercial Realty Group has been exclusively retained to market 127-01 Merrick Boulevard, Jamaica, NY.
The building spans a total of 13,250 SF on a 18,000 SF lot. The property was built in 2006. The center is 100% Occupied and encompasses a full block front on Merrick Boulevard between Selover Road and Andreson Road. Vibrant mix of Tenants with annual rent increases of 3%. The strip center is surrounded by national and local retailers. Tenants reimburse for all utilities and contribute to Real Estate Taxes. 100% Occupied. Most tenants have been in the center for over 5 years.
Additional Information
| Asset Type | Retail |
|---|---|
| City | Queens |
| Neighborhood | Jamaica |
| Price | $ 5,500,000 |
| Building Size | 13,250 SF |
| Cap Rate | 6.5% |
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Remarks at Closing:
- Closed for 6.5% CAP
- 5 Tenant Retail Strip Center with parking
- Adjacent lot for development of up to 13,000 SQFT
- All Tenants have annual rental increases
- Affluent high income area
- Tenants reimburse for taxes and CAM
