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Fully Leased Retail Condo at Ground Level of Luxury Condominium Located in the Heart of Long Island City | FOR SALE
11-12 44th Drive, RTL Condo Long Island City, NY
$3,500,000
Price
6.1%
Cap Rate
$213,401
NOI
Overview
Description
RIPCO REAL ESTATE has been retained on an exclusive basis to market for the sale of 11-12 44TH DRIVE - a ground floor retail condominium in Long Island City, Queens (The ‘Property’).
The Property is located on the ground level of the newly built, 8-story, 50 unit “QNS44” luxury mixed-use condominium. Comprised of two separate retail units, the Property is currently leased to Hair Philosophy NY Inc. & UNECO Industries Corporation. Leased through 2033 and 2030, respectively, the long-term leases provide an investor with stabilized cash flow in an appreciating and sought out market.
The central location of the Property provides several benefits. It is located in proximity to all LIC has to offer including bars, restaurants, parks and of course, all of the mass transportation options. Additionally, the Property is nearby major retailers such as Target, Chipotle, Sweetgreen, and CVS to name a few, and is just one block from the Court Square subway station, giving riders direct access to Manhattan or Brooklyn in just a few stops.
For additional information or to schedule a property inspection, please contact the Exclusive Brokers.
Highlights
- FULLY LEASED RETAIL CONDO | 13 Situated within the newly-built condominium building “QNS44,” this retail condo boasts the added benefit of six (6) parking spaces included
- EXCEPTIONAL LOCATION | Located in the heart of LIC, one block from Court Square subway station
- IMMEDIATE CASH FLOW OPPORTUNITY | Existing tenants are leased through 2030 and 2033
- CENTRALLY LOCATED | In proximity to major retailers and restaurants, such as Target, Chipotle, Sweetgreen, Birch Coffee, and Tacombi, as well as Gantry State Park for views of Manhattan along the East River
Documents
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Offering Memorandum
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Location
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