- 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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Details: AssetCRG handled this sale transaction in which the building owner needed a quick sale in a timely and professional matter. AssetCRG represented the purchaser, a developer, who saw the analyzed value and potential and engaged in a quick all-cash transaction. The building is roughly 35,000 square feet. AssetCRG subsequently leased the building to two national tenants: Children of America and Retro Fitness.
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- Represented seller
- Development site
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- Multi-family building consisting of 6 units
- Represented the buyer
