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100% Net Leased Mixed Use Building 92-77 Queens Blvd

50 Room Hotel Rego Park, NY 11374 £31,362,749 (£627,255/Room) 2.82% Net Initial Yield

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Investment Highlights

50-key hotel and the retail component of Retro Fitness, Starbucks, and the parking garage
The property benefits from a strong tenant roster, with Retro Fitness and Starbucks both having long-term leases in place.
The current net operating income (NOI) is approximately $2,540,000 and the property is well-positioned to benefit from the strong demand for retail

highly visible corner lot with excellent frontage on Queens Boulevard, a major thoroughfare in the area.
Community Housing occupies 19,000± square feet and recently signed a 10-year lease with options.

Executive Summary

Besen Partners, as exclusive agent for Ownership, is pleased to offer for sale the 100% Net Leased Mixed Use Building (Hotel + Retail) Former Wyndham Garden LaGuardia South, located at 92-77 Queens Blvd Rego Park, NY 11374 in the Rego Park neighborhood of Queens, New York.
This marketing package presents an opportunity to acquire the Former Wyndham Garden LaGuardia South property which includes a 50-key hotel and the retail component of Retro Fitness, Starbucks, and the parking garage.
The property is situated on a highly visible corner lot with excellent frontage on Queens Boulevard, a major thoroughfare in the area. The retail component comprises a total of 41,359± rentable square feet, with Retro Fitness occupying 20,524± square feet, Starbucks occupying 2,461± square feet, and the Target parking garage providing 18,374± square feet of space.
The property benefits from a strong tenant roster, with Retro Fitness and Starbucks both having long-term leases in place. Retro Fitness, a popular health club chain, has a triple-net lease with an initial term of 10 years and two 5-year renewal options. Starbucks, which includes a drive-thru lane, occupies a prime ground-level space and has a lease in place with favorable terms. Community Housing occupies 19,000± square feet and recently signed a 10-year lease with options.
The current net operating income (NOI) is approximately $2,540,000 and the property is well-positioned to benefit from the strong demand for retail space in the Rego Park area, which has seen significant growth in recent years. The area is home to a diverse mix of retail, dining, and entertainment options, and is easily accessible by public transportation and major highways.
Overall, this offering presents a rare opportunity to acquire a high-quality mixed-use asset in a prime location with strong tenant demand and favorable lease terms. A compelling value proposition for investors seeking to capitalize on the growth potential of the Rego Park area.

92-77 Queens Blvd_OM 090524

Property Facts

Price	£31,362,749	Building Size	61,780 SF
Price Per Room	£627,255	No. Rooms	50
Sale Type	Investment	Number of Floors	4
Net Initial Yield	2.82%	Year Built	2016
Property Type	Hospitality	Parking Ratio	0.18/1,000 SF
Property Subtype	Hotel	Corridor	Interior
Building Class	B	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	0.48 AC

Price	£31,362,749
Price Per Room	£627,255
Sale Type	Investment
Net Initial Yield	2.82%
Property Type	Hospitality
Property Subtype	Hotel
Building Class	B
Lot Size	0.48 AC
Building Size	61,780 SF
No. Rooms	50
Number of Floors	4
Year Built	2016
Parking Ratio	0.18/1,000 SF
Corridor	Interior
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.