1111 Astoria BlvdQueens, NY 11102

Property Details for 1111 Astoria Blvd

Property size (Sq ft)

9,540 SF

Property type

Office properties

Property subtype

Medical offices

Description

This exceptional two-story medical office building in Queens, NY, presents a compelling investment opportunity. Located at 1111 Astoria Blvd, zip code 11102, this Class C property boasts a total of 9,540 square feet, currently housing two tenants across multiple units. The building enjoys 100% occupancy with leases structured on a Net, Net, Net (NNN) basis, offering predictable income streams. Lease expirations are staggered, ranging from four to seven years, providing long-term stability and potential for future rent increases. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $493,595 and an attractive 7.00% capitalization rate. The asking price is $6,900,000, translating to a price per square foot of $723.27. This prime location in Queens County offers excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a stable, high-yielding asset in the thriving New York City medical market. The building's solid occupancy and lease terms, coupled with its strong financial metrics, make it a particularly attractive proposition. This is a rare opportunity to acquire a well-maintained, fully occupied medical office building in a desirable location.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7723

Longitude

-73.9305

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