3762 82nd St
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3762 82nd St
14,000 SF 100% Leased Retail Building Jackson Heights, NY 11372 £13,232,667 (£945/SF) 7.31% Net Initial Yield
Investment Highlights
- A Truly Unique Opportunity! It's been over 40 years since a property of this remarkable caliber has been offered for sale.
- Heavy pedestrian and vehicular traffic.
- Ideal for an end user, as an investment property, or for redevelopment.
- Prime 82nd Street location in Jackson Heights, amongst the highest rental rates in Queens.
- Located within steps of the 82nd Street – Jackson Heights Subway Station.
- Unused development rights for future expansion.
Executive Summary
Victor Kraiem of EXP Realty is pleased to announce his exclusive representation for the sale of 37-62 82nd Street in Jackson Heights, a prime property in a highly sought-after location. With his extensive market expertise, he is dedicated to showcasing this exceptional opportunity to discerning buyers.
Situated in one of Jackson Heights' most coveted locations, the building is conveniently located just steps away from the 7 train, a major subway line offering quick access to Manhattan and other parts of Queens. This is the first time in four decades that a property of this exceptional quality has been made available for sale, making it a rare find for savvy investors and buyers alike.
37-62 82nd Street is a two-story building featuring an impressive 70-foot frontage and a depth of 100 feet. This retail storefront and office building occupies a 7,000 square foot lot, with a total building size of 12,115 square feet spread across two stories and a basement. The building underwent significant updates in 2011, featuring a new roof, boilers, and HVAC system. Zoned C4-3, this property presents an incredible development opportunity, allowing for a total buildable area of 11,685 square feet with the addition of two more floors. The extra space opens the door significant potential additional income and long-term value. Whether you're an investor or looking to maximize the property's potential, this is a rare chance to capitalize on both space and revenue opportunities. An architect or engineer must be consulted to determine any existing improvements conform to all of the zoning requirements
The property is fully leased, with Duane Reade occupying the ground floor. The second floor is rented to long-term tenants, including a language school and a dental practice. Duane Reade holds a master lease for the entire building, structured as a double net lease, ensuring minimal responsibilities for the landlord. This represents a fantastic investment opportunity for astute investors interested in prime commercial real estate in New York. 1031 exchanges are welcome.
This area boasts heavy foot traffic and is home to numerous well-known retailers, including Gap, Skechers, Foot Locker, Target, Banana Republic, Old Navy, Carters, Pandora, Sephora, FedEx, AT&T, T-Mobile, McDonald's, Shake Shack, Chase Bank, Capital One Bank, Bank of America, United Healthcare, and Mount Sinai.
Situated in one of Jackson Heights' most coveted locations, the building is conveniently located just steps away from the 7 train, a major subway line offering quick access to Manhattan and other parts of Queens. This is the first time in four decades that a property of this exceptional quality has been made available for sale, making it a rare find for savvy investors and buyers alike.
37-62 82nd Street is a two-story building featuring an impressive 70-foot frontage and a depth of 100 feet. This retail storefront and office building occupies a 7,000 square foot lot, with a total building size of 12,115 square feet spread across two stories and a basement. The building underwent significant updates in 2011, featuring a new roof, boilers, and HVAC system. Zoned C4-3, this property presents an incredible development opportunity, allowing for a total buildable area of 11,685 square feet with the addition of two more floors. The extra space opens the door significant potential additional income and long-term value. Whether you're an investor or looking to maximize the property's potential, this is a rare chance to capitalize on both space and revenue opportunities. An architect or engineer must be consulted to determine any existing improvements conform to all of the zoning requirements
The property is fully leased, with Duane Reade occupying the ground floor. The second floor is rented to long-term tenants, including a language school and a dental practice. Duane Reade holds a master lease for the entire building, structured as a double net lease, ensuring minimal responsibilities for the landlord. This represents a fantastic investment opportunity for astute investors interested in prime commercial real estate in New York. 1031 exchanges are welcome.
This area boasts heavy foot traffic and is home to numerous well-known retailers, including Gap, Skechers, Foot Locker, Target, Banana Republic, Old Navy, Carters, Pandora, Sephora, FedEx, AT&T, T-Mobile, McDonald's, Shake Shack, Chase Bank, Capital One Bank, Bank of America, United Healthcare, and Mount Sinai.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
14,000 SF
Building Class
C
Year Built
1928
Price
£13,232,667
Price Per SF
£945
Net Initial Yield
7.31%
NOI
£966,764
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
2.01
Land Acres
0.16 AC
Opportunity Zone
Yes
Zoning
C4-3
Frontage
70 ft on 82nd St
Amenities
- Bus Route
- Public Transport
- Tenant Controlled HVAC
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Since 1960—from their first successful full-service drugstore on Broadway between Duane and Reade Streets in Manhattan—Duane Reade has grown to become the most recognized drugstore chain in metropolitan New York. In 2010, Duane Reade became part of the Walgreens family of companies and today their stores carry an extensive assortment of pharmacy items as well as vitamins, nutritional products, cosmetics, greeting cards and photo processing.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
7,000 square foot basement included with ground floor space
| Space | Size | Space Use | Position | Available |
| 1st Floor | 7,000 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 7,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1st Floor
| Size | 7,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
7,000 square foot basement included with ground floor space
Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 01292-0040 | Improvements Assessment | £3,074,733 |
| Land Assessment | £497,070 | Total Assessment | £3,571,803 |
PROPERTY TAXES
Parcel Number
01292-0040
Land Assessment
£497,070
Improvements Assessment
£3,074,733
Total Assessment
£3,571,803
-
Victor Kraiem -
eXp Realty
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3762 82nd St
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