Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell Retail Strip In Douglaston

02/14/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a fully-leased retail strip at 233-02-20 Northern Boulevard. The property is located on the corner of Northern Boulevard and 234th Street in the Douglaston neighborhood of Queens. The asking price is $3,900,000.

This retail assemblage consists of three tenants on two tax lots with a combined approximately 26,325 square foot lot and 6,082 square feet of buildings including an auto gallery dealership, auto garage, and auto repair.  The auto gallery has a lease until 2014 with a five-year landlord option.  The auto garage has been recently rented for $6,800 per month for five years and 4% rent increases.  The third tenant is Red's Auto Repair, which has been there for over 30 years and is on a month-to-month lease.  The combined site has over 200 feet of frontage on Northern Boulevard. It is zoned R1-2 and is grandfathered as commercial use.

Ideally located in the highly desirable Douglaston area of Queens, between Little Neck and Bayside, this site is a prime investment for existing cash flow or future development potential

For more information on this listing, contact Massey Knakal Director of Sales Stephen R. Preuss at 718.275.3400.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

02/13/2013 - 18:32

Source

Cushman & Wakefield Capital Markets Group New York

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