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

112-45 Springfield Boulevard Queens Village, NY 11429 - main image

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 Population		61,945	465,369	1,124,396
Population Median Age		40	40	40
Population by Age	0-9 Yrs	6347	51203	128034
	10-19 Yrs	7221	54974	133318
	20-29 Yrs	9339	65925	158447
	30-39 Yrs	7613	59795	144115
	40-49 Yrs	7865	59047	145226
	50-59 Yrs	9665	71618	167049
	60-69 Yrs	7107	54501	130651
	70+ Yrs	6787	48306	117556

Median HH Income		$84,775	$78,739	$79,641
Total Household Income	< 24K	2227	19987	49684
	25-49K	2637	24926	60136
	50-74K	2841	23800	57329
	75-99K	2582	18959	46668
	100-199K	5650	43200	103436
	200K+	1492	12227	34378

Highest Education Level	No Diploma	5852	43583	113797
	Diploma or GED	12285	92656	209998
	Some College	9493	63407	136686
	Assoc. Degree	4312	29588	66259
	Bachelors Degree	7345	61577	159991
	Higher Degree	4387	36445	101388

Total Housing Units		18,448	151,890	373,902
--Owner-Occupied		13,394	95,787	225,442
--Renter-Occupied		4,034	47,311	126,188
Owner-Occupied Values	< 100K	325	3062	6825
	100-199K	94	4165	10379
	200-299K	534	7276	17661
	300-399K	4079	22577	41077
	400-499K	5891	28575	52774
	500K+	2472	30132	96727

Total Working Age Population		51,473	381,339	917,372
In Work Force		34,436	247,445	589,497
Not In Work Force		17,038	133,894	327,875
Workforce Employed		31,143	229,567	548,887
Workforce Unemployed		3,275	17,742	40,343
Civlian Workforce		34,418	247,309	589,230
Military Workforce		18	136	267

Total Households		17,429	143,098	351,630
Family Households		14,128	107,551	264,887
Non-Family Households		3,301	35,547	86,742
Married Couple		7,743	67,837	181,575
Other Family		6,385	39,714	83,312
Married w/Child		2,828	27,713	75,170
Single Male w/Child		387	3,037	6,096
Single Female w/Child		1,391	9,659	21,561

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
New York	18,976,457	+2	19,378,102	+4	20,146,131	+2	20,604,030
Queens County	2,229,379	0	2,230,722	+9	2,436,549	+5	2,565,268
Nassau County	1,334,544	0	1,339,532	+4	1,386,500	+3	1,432,859

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

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