Massey Knakal Sells Retail Building In Jackson Heights
A retail building at 34-45 Junction Boulevard, located between 34th Road and 35th Avenuein Queens’ Jackson Heights neighborhood, was sold in an all-cash transaction valued at $725,000.
The one-story retail building is fully-leased, contains approximately 1,600 rentable square feet and sits on a 15’ x 66’ lot. The first floor is a thriving medical practice with a new ten-year lease and the lower level is a long-standing printing company. The sale price equates to approximately $453 per square foot and a 7% capitalization rate.
“This is an ideal cash-flowing retail property in the desirable and bustling Junction Boulevard corridor of Jackson Heights,” said Massey Knakal Director of Sales Stephen R. Preuss.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.