9-03 44th Rd - Service FOR SALE


Long Island City, NY 11101- Hunters Point
$31,500,000 USD
718-663-2639
9-03 44th Rd, Long Island City, NY for Sale
$31,500,000 USD
Service - FOR SALE
1/1
null | 9.85% Cap Rate

9-03 44th Rd
Long Island City, NY 11101
Hunters Point


HIGHLIGHTS

  • 99-year ground lease inclusive of a 25-year IDA tax exemption with the permanent CO delivered in 2021
  • Three-story newly constructed industrial-flex and office building that spans an entire city block
  • Ideal mix of credit and regional tenancy with varying lease terms
  • Ground floor warehouse space includes seven drive-in doors, 20’ ceiling heights and ample natural light
  • Amenities include public rooftop terrace with pergolas, seating areas, and a bocce ball court

OVERVIEW

RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 9-03 44TH ROAD — in the Long Island City, Queens. The newly constructed, three-story, multi-tenanted, M1-4 zoned industrial building spans across approximately 87,000 SF and encompasses an entire city block. The building boasts a solid tenant roster including Daikin Industries, Ltd. and Montana Datacom. Daikin Industries, Ltd. is a market-leading, publicly traded (DKILY), fortune 1000 company, specializing in multinational air conditioning manufacturing with ~$23B of revenue in 2020. Montana Datacom., established in 1996, is a Certified Woman Business Enterprise that distributes American-made electrical, data, transit, telephone, conduit, video, fire alarm, security, and industrial products. Additional tenancy includes various companies operating under several use groups. Please reach out to the exclusive agents with any questions about the opportunity.

FOR SALE DETAILS

PRICE

$31,500,000 USD

PRICE/SF

$337 USD /SF

CAP RATE

9.85%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Woodworks LIC

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2021

UTILITIES

-

CLEAR CEILING HT

20 Ft

DOCKS

-

DRIVE INS

7

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.1

LAND SF

47,916

ZONING

M1-4

APN/PARCEL ID

00451-0001

ASK ABOUT THIS PROPERTY

Stephen PreussRipco Real EstateMore Info
718-663-2639

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Stephen PreussRipco Real EstateMore Info
718-663-2639

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