Cushman & Wakefield has been exclusively retained to offer for sale 23-22 30th Avenue, Astoria, NY 11102 — a two-story, 9,540 SF medical office building 100% occupied by two institutional-grade tenants: Mount Sinai Hospital and Motion PT Group. Mount Sinai Hospital anchors the lower level and ground floor under a modified gross lease with two renewal options that could extend the tenancy by up to 10 additional years. The second floor is occupied by Motion PT Group — a member of Mount Sinai's Trusted Rehab Network operating across 60 locations in four states — under a modified gross lease with an additional renewal option. Together, these leases deliver a long-duration, low-management income stream for investors.
Located one block from Mount Sinai Hospital in one of Astoria's most medically dense corridors, the property underwent a comprehensive renovation in 2023 — including a new roof, façade, and canopy — substantially reducing deferred maintenance risk and near-term capital requirements. The property is offered at $6,500,000, reflecting a current NOI of approximately $489,161 and an in-place cap rate of 7.5%.
Please direct all inquiries to Cushman & Wakefield.