17924 Union Tpke - Storefront FOR SALE


Fresh Meadows, NY 11366
$9,000,000 USD
929-600-4648
17924 Union Tpke, Fresh Meadows, NY for Sale
$9,000,000 USD
Storefront - FOR SALE
1/6
null | 6.17% Cap Rate

17924 Union Tpke
Fresh Meadows, NY 11366


OVERVIEW

*PLEASE READ - DEAL PAGE & DATA ROOM LINKS BELOW* . Stonefield Real Estate has been exclusively retained to market 179-24 Union Turnpike, a newly constructed, fully occupied retail asset located in the Fresh Meadows neighborhood of Queens, NY. . Brand New Construction • Delivered in 2024 with modern steel-frame design engineered for vertical expansion • Zero deferred maintenance with roof, structure, parking lot, and mechanical systems all brand new . Strong Tenancy & Stable Cash Flow • 100% occupied with long-term leases, net charges, rent escalations, and personal guarantees . Prime Fresh Meadows Location • Prominent Union Turnpike frontage with high daily traffic • Close proximity to St. John’s University • Surrounded by dense residential neighborhoods . Favorable Tax Abatement Structure • In process of securing a 15-year ICAP tax abatement • Payable property taxes are projected to begin at $77,245 in Year 1 (2026/2027) and gradually increase as the abatement phases out • Full abatement benefits remain constant for the first 11 years, with a phased reduction over Years 12 through 15

FOR SALE DETAILS

PRICE

$9,000,000 USD

PRICE/SF

$419 USD /SF

CAP RATE

6.17%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1942

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

R2A

APN/PARCEL ID

07229-0020

ASK ABOUT THIS PROPERTY

Adam YakubovStonefield Real EstateMore Info
929-600-4648

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Adam YakubovStonefield Real EstateMore Info
929-600-4648

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