Child Care
47-28 11th Street #Retail
47-28 11th St, Queens, NY 11101
Listing Price: $2,668,000
Investment Overview
The subject offering is a 3,672 SF retail condo on the corner of 11th Street and 47th Avenue in Long Island City (Queens). The unit occupies the entire lower-level of The Corner, a luxury seven-story 23-unit residential condominium that was constructed brand-new in 2015.
The unit is 100% occupied by Bunny Hill Daycare & Preschool. Bunny Hill has three locations in New York City (Two in Queens & One in Brooklyn). They took possession of this space in April 2018 and have a 12-year lease that runs through 2030, with 3% annual rental increases. The tenant has one (5) five-year option to renew, with 3% annually increases.
The tenant operates on a NNN lease, as they are responsible for 100% of the taxes and the CAM for the unit. This is a fully-stabilized zero management commercial asset in Queens.
Listing Price: $2,668,000
Investment Highlights
- NNN lease with no management
- Bunny Hill Daycare has been operating here since 2018
- Newly constructed in 2015
Investment Overview
The subject offering is a 3,672 SF retail condo on the corner of 11th Street and 47th Avenue in Long Island City (Queens). The unit occupies the entire lower-level of The Corner, a luxury seven-story 23-unit residential condominium that was constructed brand-new in 2015. The unit is 100% occupied by Bunny Hill Daycare & Preschool. Bunny Hill has three locations in New York City (Two in Queens & One in Brooklyn). They took possession of this space in April 2018 and have a 12-year lease that runs through 2030, with 3% annual rental increases. The tenant has one (5) five-year option to renew, with 3% annually increases. The tenant operates on a NNN lease, as they are responsible for 100% of the taxes and the CAM for the unit. This is a fully-stabilized zero management commercial asset in Queens.
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.
