23-22 30th Ave - Medical FOR SALE


Astoria, NY 11102- Downtown Astoria
$6,500,000 USD
516-974-6694
23-22 30th Ave, Astoria, NY for Sale
$6,500,000 USD
Medical - FOR SALE
1/9
null | 7.53% Cap Rate

23-22 30th Ave
Astoria, NY 11102
Downtown Astoria


HIGHLIGHTS

  • Fully leased to Mount Sinai Hospital and Motion PT on long-term agreements.
  • Extensive renovations completed in 2023, including roof and façade upgrades.
  • Located in a densely populated medical corridor one block from Mount Sinai Queens.
  • Steps from N/W subway lines and 15-minute transit to Midtown Manhattan.
  • Stable 7.53% in-place cap rate with institutional-grade tenancy.
  • Property includes advanced medical infrastructure, including a built-out MRI suite.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$681 USD /SF

CAP RATE

7.53%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Medical Building | New leases

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront, Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

R6A, R6B

APN/PARCEL ID

00572-0035

ASK ABOUT THIS PROPERTY

Kieran BakerCushman & WakefieldMore Info
516-974-6694

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Kieran BakerCushman & WakefieldMore Info
516-974-6694

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