Single-Tenant NN+ Medical with Parking
5,325 SF | Retail Building | Forest Hills, NY 11375 | $6,154,000 ($1,156/SF) | 5% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,154,000
- Property Type
-
Retail
- Square Feet
- 5,325 SF
- Price / Square Foot
- $1,156
Listing Contacts
Matthew Colantonio
Verified Profile
- Property Info
Property Overview
92-37 Metropolitan Avenue is a 5,325 SF building on a 12,072 SF corner lot with 10 parking spaces and additional air rights in the Forest Hills neighborhood of Queens.
North Shore Hematology - Oncology Associates, P.C., dba New York Cancer & Blood Specialists inked a 10yr NN+ lease in 2021 for $55/SF with 2.5% yearly escalations, and landlord and tenant spent around $3,000,000 in upgrades to the property.
The property is strategically located in the heart of the dense Forest Hills residential district, across from Home Depot and Trader Joe,s, and included an extensive capital expenditure program to fit the new tenant's medical needs.
North Shore Hematology - Oncology Associates, P.C., dba New York Cancer & Blood Specialists inked a 10yr NN+ lease in 2021 for $55/SF with 2.5% yearly escalations, and landlord and tenant spent around $3,000,000 in upgrades to the property.
The property is strategically located in the heart of the dense Forest Hills residential district, across from Home Depot and Trader Joe,s, and included an extensive capital expenditure program to fit the new tenant's medical needs.
Property Details
- Class
- C
- Year Built
- 2020
- Stories
- 1
- Property Subtype
- Freestanding, Medical
- Lot Size (sq. ft)
- 12,197 SF
Highlights
- 100-unit New York Medical Operator
- Recent $3,000,000 in property upgrades. Minimal Landlord Responsibilities
- Queens single-tenant corner at a signalized intersection with parking.
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