5536 69th Pl - Apartments CONDO FOR SALE


Maspeth, NY 11378
$1,100,000 USD
917-539-0402
5536 69th Pl, Maspeth, NY for Sale
$1,100,000 USD
Apartments CONDO - FOR SALE
1/6
null | 7.2% Cap Rate

5536 69th Pl
Maspeth, NY 11378


HIGHLIGHTS

  • 1,445 SF Retail Condo on a NNN Lease With Minimal Landlord Responsibilities
  • Corporate Guaranteed Lease From MB2 Dental, Which has Over 700 Locations and a Value of $3.5 Billion
  • Solid Retail Location Right Off Grand Avenue in Maspeth (Queens)
  • 3% Annual Increases With One (3) Three-Year Renewal Option

OVERVIEW

This unit is retail (Use Group 6) and allows for all retail uses. The site has been an orthodontal practice for over 20 years. The lease has a corporate guarantee from MB2 Dental, the first and largest dental partnership organization in the country. MB2 Dental has 700 locations in 43 states. They recently received a $525M private equity investment, and they have an enterprise value of $3.5 Billion. The unit consists of a 722 square foot ground floor orthodontal practice and a 722 square foot lower level that also has a C of O for medical use (currently being used as offices and storage). The offering is right in the heart of Maspeth, and sits just off Grand Avenue, the main retail corridor in the neighborhood.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$761 USD /SF

CAP RATE

7.2%

# OF UNITS

1

CONDO SIZE

-

% LEASED

100%

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

MB2 Net-Leased Retail - 7.2% CAP

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

16,092 SF

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,753 SF

ZONING

R4-1

APN/PARCEL ID

02500-1002,02500-1011,02500-1018,02500-1023

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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