Urban-High Street
Grocery-Anchored Strip | Queens (Rego Park), NY
94-06 63rd Dr, Rego Park, NY 11374
Listing Price: $5,205,000
Investment Overview
The subject property, located at 94-02 to 94-06 63rd Drive in Rego Park, Queens, New York, features a 9,640-square-foot building anchored by C-Town Supermarket, with three additional service-oriented tenants. The property has 100-feet of retail frontage on 63rd Drive, adjacent to Queens Boulevard. Positioned at a busy, signalized intersection within Rego Park's retail core, the area enjoys high visibility in a densely populated neighborhood. Major nearby retailers include Costco, Marshalls, Burlington, TJ Maxx, Aldi, and At Home.
New, high-profile multi-family developments in the area are expected to drive foot traffic and contribute to the neighborhood's commercial growth, including a 22-story mixed-use tower at 98-08 Queens Boulevard completed in late 2023. This building added 186 rental apartments, 53,000 square feet of retail, and 41,000 square feet of community space, including amenities like a fitness center, roof deck, and yoga room. In addition, the Lionheart, an eight-story building with 88 affordable housing units, community spaces, and amenities such as a daycare center and recreational areas, located at 92-62 Queens Boulevard was just recently completed in October 2024.
Grocery-Anchored Strip | Queens (Rego Park), NY
Investment Highlights
- Strong Tenant Base: The property is anchored by a C-Town supermarket, a well-established grocery chain with a strong presence in the New York City area and has been at this location for 20 years.
- Stable Income Stream: The property generates a stable income stream with 100% occupancy and rental increases on each tenant, and they are all reimbursing over base-year on real estate taxes.
- Essential Tenant Mix: The mix ensures tenant diversity with essential services such as healthcare, beauty, and pharmaceuticals, making it resilient to market changes.
- Excellent Accessibility: The property is located on a busy, signalized intersection in a densely populated neighborhood. Accessible transportation options include the M and R subway lines at the 63rd Drive station, just 0.1 miles away. The surrounding area is densely populated, with high foot traffic, contributing to the property's appeal for retail businesses and essential services.
Urban-High Street
Grocery-Anchored Strip | Queens (Rego Park), NY
Listing Price: $5,205,000
Investment Highlights
- Strong Tenant Base: The property is anchored by a C-Town supermarket, a well-established grocery chain with a strong presence in the New York City area and has been at this location for 20 years.
- Stable Income Stream: The property generates a stable income stream with 100% occupancy and rental increases on each tenant, and they are all reimbursing over base-year on real estate taxes.
- Essential Tenant Mix: The mix ensures tenant diversity with essential services such as healthcare, beauty, and pharmaceuticals, making it resilient to market changes.
- Excellent Accessibility: The property is located on a busy, signalized intersection in a densely populated neighborhood. Accessible transportation options include the M and R subway lines at the 63rd Drive station, just 0.1 miles away. The surrounding area is densely populated, with high foot traffic, contributing to the property's appeal for retail businesses and essential services.
Investment Overview
The subject property, located at 94-02 to 94-06 63rd Drive in Rego Park, Queens, New York, features a 9,640-square-foot building anchored by C-Town Supermarket, with three additional service-oriented tenants. The property has 100-feet of retail frontage on 63rd Drive, adjacent to Queens Boulevard. Positioned at a busy, signalized intersection within Rego Park's retail core, the area enjoys high visibility in a densely populated neighborhood. Major nearby retailers include Costco, Marshalls, Burlington, TJ Maxx, Aldi, and At Home. New, high-profile multi-family developments in the area are expected to drive foot traffic and contribute to the neighborhood's commercial growth, including a 22-story mixed-use tower at 98-08 Queens Boulevard completed in late 2023. This building added 186 rental apartments, 53,000 square feet of retail, and 41,000 square feet of community space, including amenities like a fitness center, roof deck, and yoga room. In addition, the Lionheart, an eight-story building with 88 affordable housing units, community spaces, and amenities such as a daycare center and recreational areas, located at 92-62 Queens Boulevard was just recently completed in October 2024.
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
