95-13 Northern BlvdQueens, NY 11372

Property Details for 95-13 Northern Blvd

Year built

1927

Property size (Sq ft)

24,909 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use investment opportunity presents a fully occupied, four-story building situated on a prominent 80-foot frontage along Northern Boulevard in Jackson Heights, Queens. The property encompasses 24,909 square feet and features a blend of 28 rent-stabilized apartments and 6 retail spaces, currently boasting 100% occupancy. The building, constructed in 1927, benefits from a strong NOI of $435,740, yielding a 4.59% cap rate at an asking price of $9,500,000 ($381.39/sq ft). Retail tenants enjoy 3% annual rent increases, contributing to the property's stable financial performance. The C1-4/R6 zoning allows for a variety of uses. The 8,000 square foot lot is held under a fee simple ownership with a ground lease in place. This prime location offers high visibility and significant traffic counts (29,556 cars daily on Northern Boulevard), positioned near major roadways including the Grand Central Parkway, Whitestone Expressway, Long Island Expressway, and Brooklyn-Queens Expressway, as well as LaGuardia Airport and various attractions. The surrounding area is vibrant, featuring a mix of retail businesses, enhancing the property's appeal and potential for future growth. This stabilized investment presents a compelling opportunity for long-term returns.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.757

Longitude

-73.8724

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