9237 Metropolitan Ave | Forest Hills, NY 11375
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9237 Metropolitan Ave
Forest Hills, NY 11375
Single-Tenant NN+ Medical with Parking · Retail Property For Sale
Investment Highlights
- 100-unit New York Medical Operator
- Queens single-tenant corner at a signalized intersection with parking.
- Recent $3,000,000 in property upgrades. Minimal Landlord Responsibilities
Executive Summary
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 FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,325 SF
Building Class
C
Year Built
2020
Price
£4,876,000
Price Per SF
£916
Net Initial Yield
5%
NOI
£243,802
Tenancy
Single
Number of Floors
1
Building FAR
0.44
Lot Size
0.28 AC
Zoning
R4B
Parking
10 Spaces (1.88 Spaces per 1,000 SF Leased)
Frontage
100 ft on Metropolitan Avenue
PROPERTY TAXES
| Parcel Number | 03179-0055 | Improvements Assessment | £473,384 |
| Land Assessment | £297,718 | Total Assessment | £771,102 |
PROPERTY TAXES
Parcel Number
03179-0055
Land Assessment
£297,718
Improvements Assessment
£473,384
Total Assessment
£771,102
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