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Shopping Neighborhood

Fresh Meadows Shopping Center - 186-16-187-12 Union Turnpike

186-16 Union Tpke, Queens, NY 11366

Listing Price: $18,000,000

Cap Rate
6.15%
Gross SF
29,407
Rentable SF
29,407
Price/Gross SF
$612.10
Lot Size
0.79 acres
Year Built
1941

Investment Overview

Marcus & Millichap is pleased to present for sale 186-16 -187-12 Union Turnpike, a 29,407 SF, 100%
occupied shopping center located in Fresh Meadows (Queens), New York. The offering consists of
nine stores, and it is anchored by a brand new 11,907 SF NYC Department of Education Universal Pre-K
center.

The property rests on a combined 34,200 SF lot with dedicated parking for 19 cars. The offering has
290 feet of retail frontage along Union Turnpike, the main retail corridor in Fresh Meadows, one of the
most desirable residential neighborhoods in Queens. The site is surrounded by local retailers, and it
benefits from outstanding Fresh Meadows demographics. The offering is comprised of two separate
tax lots.

The NYC Universal Pre-K center has a 10% increase every five years, with the first increase coming
September 1, 2027. All other tenants have annual increases, and all tenants are responsible for a
proportionate share of real estate taxes above their base years.

This is the incredibly rare opportunity to acquire a fully occupied multi-tenant retail asset in one of
Queens’ top neighborhoods with just under 300 feet of contiguous retail frontag

Investment Highlights

  • 29,407 SF, 100% Occupied Shopping Center With Nine Stores and a 19-Car Parking Lot Located on Union Turnpike in Fresh Meadows (Queens), NY.
  • Multi-Tenant Retail Offering Anchored by the New York City Department of Education on a Long-Term Lease Through 2037.
  • 290 Feet of Contiguous Retail Frontage Along Union Turnpike in Fresh Meadows, One of the Best Residential Neighborhoods in Queens.

Exclusively Listed By

Shopping Neighborhood

Fresh Meadows Shopping Center - 186-16-187-12 Union Turnpike

Listing Price: $18,000,000

Cap Rate
6.15%
Gross SF
29,407
Rentable SF
29,407
Price/Gross SF
$612.10
Lot Size
0.79 acres
Year Built
1941

Investment Highlights

  • 29,407 SF, 100% Occupied Shopping Center With Nine Stores and a 19-Car Parking Lot Located on Union Turnpike in Fresh Meadows (Queens), NY.
  • Multi-Tenant Retail Offering Anchored by the New York City Department of Education on a Long-Term Lease Through 2037.
  • 290 Feet of Contiguous Retail Frontage Along Union Turnpike in Fresh Meadows, One of the Best Residential Neighborhoods in Queens.

Investment Overview

Marcus & Millichap is pleased to present for sale 186-16 -187-12 Union Turnpike, a 29,407 SF, 100% occupied shopping center located in Fresh Meadows (Queens), New York. The offering consists of nine stores, and it is anchored by a brand new 11,907 SF NYC Department of Education Universal Pre-K center. The property rests on a combined 34,200 SF lot with dedicated parking for 19 cars. The offering has 290 feet of retail frontage along Union Turnpike, the main retail corridor in Fresh Meadows, one of the most desirable residential neighborhoods in Queens. The site is surrounded by local retailers, and it benefits from outstanding Fresh Meadows demographics. The offering is comprised of two separate tax lots. The NYC Universal Pre-K center has a 10% increase every five years, with the first increase coming September 1, 2027. All other tenants have annual increases, and all tenants are responsible for a proportionate share of real estate taxes above their base years. This is the incredibly rare opportunity to acquire a fully occupied multi-tenant retail asset in one of Queens’ top neighborhoods with just under 300 feet of contiguous retail frontag

Exclusively Listed By

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