$16,750,000
37-62 82nd ST Jackson Heights, NY 11372
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$16,750,000
Est. payment /mo
6,969 Sqft Lot
New
37-62 82nd ST Jackson Heights, NY 11372
UPDATED:
10/15/2024 07:10 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3585261
Originating Board onekey
Rental Info No
Year Built 1926
Annual Tax Amount $507,000
Lot Size 6,969 Sqft
Acres 0.16
Lot Dimensions 70x100
Property Description
Victor Kraiem of EXP Realty is pleased to announce his exclusive representation for the sale of 37-62 82nd Street in Jackson Heights, a prime property in a highly sought-after location. With his extensive market expertise, he is dedicated to showcasing this exceptional opportunity to discerning buyers. Situated in one of Jackson Heights' most coveted locations, the building is conveniently located just steps away from the 7 train, a major subway line offering quick access to Manhattan and other parts of Queens. This is the first time in four decades that a property of this exceptional quality has been made available for sale, making it a rare find for savvy investors and buyers alike. 37-62 82nd Street is a two-story building featuring an impressive 70-foot frontage and a depth of 100 feet. This retail storefront and office building occupies a 7,000 square foot lot, with a total building size of 12,115 square feet spread across two stories and a basement. The building underwent significant updates in 2011, featuring a new roof, boilers, and HVAC system. Zoned C4-3, this property presents an incredible development opportunity, allowing for a total buildable area of 11,685 square feet with the addition of two more floors. The extra space opens the door significant potential additional income and long-term value. Whether you're an investor or looking to maximize the property's potential, this is a rare chance to capitalize on both space and revenue opportunities. An architect or engineer must be consulted to determine any existing improvements conform to all of the zoning requirements The property is fully leased, with Duane Reade occupying the ground floor. The second floor is rented to long-term tenants, including a language school and a dental practice. Duane Reade holds a master lease for the entire building, structured as a double net lease, ensuring minimal responsibilities for the landlord. This represents a fantastic investment opportunity for astute investors interested in prime commercial real estate in New York. 1031 exchanges are welcome. This area boasts heavy foot traffic and is home to numerous well-known retailers, including Gap, Skechers, Foot Locker, Target, Banana Republic, Old Navy, Carters, Pandora, Sephora, FedEx, AT&T, T-Mobile, McDonald's, Shake Shack, Chase Bank, Capital One Bank, Bank of America, United Healthcare, and Mount Sinai.
Location
State NY
County Queens
Zoning C4-3
Interior
Fireplace No
Building
Story 2
Others
Special Listing Condition None
Listed by EXP Realty • 888-276-0630
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