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.