112-45 Springfield Boulevard

Queens Village, NY 11429

Listing ID: 148503
$5,400,000
For Sale
  • Lot Size Acres 0.000
  • NOI $310,257
  • CAP Rate % 5.70
Description
Asset Commercial Realty Group has been exclusively retained to market 112-45 Springfield Blvd, a fully leased commercial Building in the Queens Village neighborhood of Queens.
The three tenant retail building spans a total of 10,200 SF with an 8,700 SF anchor tenant. The building is anchored by Dollar Tree Stores Inc.  Dollar Tree has 10% rent increases every five years while the other two retail tenants have 3% rent increases every year.
The building is well positioned with great access to public transportation such as one block from the [Q27] & [Q83] buses, [Hempstead] & [Oyster Bay] LIRR lines, subway lines, and highways such as the Cross Island Parkway. Springfield Boulevard bustles with many retailers with a great amount of foot and car traffic.
Collectively, the asset produces a gross income of $332,990.04 with a total expense of $22,733 and yields an Net Operating Income (NOI) of $310,257.04. Tenants are responsible for all of their utility, water, electricity bills and are responsible to pay their share of tax increases.
Details

  • A fully leased commercial Building in the Queens Village neighborhood of Queens.

  • The three tenant retail building spans a total of 10,200 SF with an 8,700 SF anchor tenant.

  • The building is anchored by Dollar Tree Stores Inc.  Dollar Tree has 10% rent increases every five years while the other two retail tenants have 3% rent increases every year.

  • The building is well positioned with great access to public transportation such as one block from the [Q27] & [Q83] buses, [Hempstead] & [Oyster Bay] LIRR lines, subway lines, and highways such as the Cross Island Parkway. Springfield Boulevard bustles with many retailers with a great amount of foot and car traffic.

  • Collectively, the asset produces a gross income of $332,990.04 with a total expense of $22,733 and yields an Net Operating Income (NOI) of $310,257.04.

  • Tenants are responsible for all of their utility, water, electricity bills and are responsible to pay their share of tax increases.

  • Ownership has set the asking price at $5,400,000 which reflects a5.75% CAP rate.


Location & Directions
Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile Radius 3-Mile Radius 5-Mile Radius
Total Population61,945465,3691,124,396
Population Median Age404040
Population by Age0-9 Yrs634751203128034
10-19 Yrs722154974133318
20-29 Yrs933965925158447
30-39 Yrs761359795144115
40-49 Yrs786559047145226
50-59 Yrs966571618167049
60-69 Yrs710754501130651
70+ Yrs678748306117556
Median HH Income$84,775$78,739$79,641
Total Household Income< 24K22271998749684
25-49K26372492660136
50-74K28412380057329
75-99K25821895946668
100-199K565043200103436
200K+14921222734378
Highest Education LevelNo Diploma585243583113797
Diploma or GED1228592656209998
Some College949363407136686
Assoc. Degree43122958866259
Bachelors Degree734561577159991
Higher Degree438736445101388
Total Housing Units18,448151,890373,902
--Owner-Occupied13,39495,787225,442
--Renter-Occupied4,03447,311126,188
Owner-Occupied Values< 100K32530626825
100-199K94416510379
200-299K534727617661
300-399K40792257741077
400-499K58912857552774
500K+24723013296727
Total Working Age Population51,473381,339917,372
In Work Force34,436247,445589,497
Not In Work Force17,038133,894327,875
Workforce Employed31,143229,567548,887
Workforce Unemployed3,27517,74240,343
Civlian Workforce34,418247,309589,230
Military Workforce18136267
Total Households17,429143,098351,630
Family Households14,128107,551264,887
Non-Family Households3,30135,54786,742
Married Couple7,74367,837181,575
Other Family6,38539,71483,312
Married w/Child2,82827,71375,170
Single Male w/Child3873,0376,096
Single Female w/Child1,3919,65921,561

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
New York18,976,457+219,378,102+420,146,131+220,604,030
Queens County2,229,37902,230,722+92,436,549+52,565,268
Nassau County1,334,54401,339,532+41,386,500+31,432,859

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Agent
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