12909 26th Ave - Office FOR SALE


Flushing, NY 11354
$22,000,000 USD
516-713-3002
12909 26th Ave, Flushing, NY for Sale
$22,000,000 USD
Office - FOR SALE
1/21
null | Request Cap Rate

12909 26th Ave
Flushing, NY 11354


HIGHLIGHTS

  • 60,622 SF fully leased office/flex building in College Point, Queens across 36 tenants
  • 41,457 SF office and ±19,165 SF industrial/flex across four-story building
  • Stable cash flow supported by annual rent escalations and strong tenant diversification
  • Below-market rents provide significant mark-to-market upside as leases roll to market
  • 62,006 SF lot zoned M2-1 (2.0 FAR) with ~124,000 SF buildable potential
  • 63,000 SF unused development rights with potential air rights sale to adjacent owners

OVERVIEW

We are pleased to present 129-09 26th Avenue, a rare opportunity to acquire a 60,622 SF fully leased office and flex industrial building in the heart of College Point, Queens. The asset is 100% leased to 36 tenants and consists of approximately 41,457 SF of office space and 19,165 SF of industrial/flex space, creating a well-balanced and highly functional multi-tenant configuration. This is a true stabilized investment with immediate cash flow and built-in upside. Existing leases include contractual annual rent escalations, while current in-place rents remain below market, creating a clear mark-to-market opportunity as leases roll. The property sits in one of Queens’ most resilient industrial corridors, with strong tenant demand driven by proximity to LaGuardia Airport, the Whitestone Expressway, and surrounding submarkets. Key Highlights: - 60,622 SF fully leased office/flex industrial building - 41,457 SF office / 19,165 SF industrial-flex configuration - 36 tenants / 100% occupancy - Built-in rent escalations + below-market in-place rents - Prime College Point location near LaGuardia Airport & major highways - Strong, diversified multi-tenant income stream Additional Upside: The property sits on a 62,006 SF lot zoned M2-1 (2.0 FAR), allowing for approximately 124,000 buildable SF. With approximately 63,000 SF of unused development rights, investors benefit from significant long-term optionality. In addition, there is a near-term monetization opportunity through the sale of excess air rights to adjacent property owners, offering a potential immediate capital event without undertaking redevelopment. This is a rare opportunity to acquire a fully stabilized Queens industrial asset with both durable income and multiple embedded value creation levers.

FOR SALE DETAILS

PRICE

$22,000,000 USD

PRICE/SF

$367 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

60,000 SF Office/Flex Building

PROPERTY TYPE

Office

ADD'L SUBTYPES

undefined, Warehouse, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

85

LAND DETAILS

LAND ACRES

1.42 AC

LAND SF

61,855 SF

ZONING

M2-1

APN/PARCEL ID

04273-0090

ASK ABOUT THIS PROPERTY

LiLi WangE Realty International CorpMore Info
516-713-3002

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LiLi WangE Realty International CorpMore Info
516-713-3002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.