175-42 Hillside Avenue, Queens, NY, 11432 - Available for Sale

Retail For Sale

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175-42 Hillside Avenue

175-42 Hillside Avenue, Queens, NY 11432

$3,000,000

2,054 SF | Retail

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Price:
$3,000,000
Building Size:
2,054 SF
Price/SF:
$1,460.56
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Investment
Tenancy:
Single
Lot Size:
10,000 SF
Listing ID
18384295
Last Updated
2 days ago

Find Out More...

Highlights

  • Prime KFC NNN Investment Plus 40,000 BSF of Future Development Rights

Description

Ariel Property Advisors presents 175-42 Hillside Avenue, a prime NNN opportunity with future development potential. The property currently consists of a 100' x 100' plot that is encumbered by a 2,054 square foot (approximately) KFC Restaurant on Hillside Avenue between Edgerton Boulevard and 175th Street. The property is leased on a triple net basis (NNN) to a franchisee of KFC Corp., for the period of 15 years with a 10% increase in rent occurring every 5 years. The initial lease is set to expire in 2026, after which the tenant will be given one (1) option to extend for 5 years and additional 10% rent increase. In addition to the steady cash flow from a blue chip tenant, the property' s 40,000 buildable square feet (as-of-right) presents an excellent future development opportunity.

Easy access to inner and outer borough locations is available via the (F) train located at 179th Street, and by Grand Central Parkway located only 0.5 miles away from the property. Offering reliable cash flow and future development potential along a major Queens corridor, 175-42 Hillside Avenue is an ideal investment for investors and 1031 exchange candidates.

The subject property is located on the south side of Hillside Avenue between 175th Street and 178th Street

Map of 175-42 Hillside Avenue, Queens, NY 11432 (Queens County)

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Asking Price Index Trends for New York, NY Retail For Sale

  Mar 14 vs. 3 mo.
prior
Y-O-Y
-
State
$154+1.0%+1.6%
-
Metro
$215-0.7%+2.8%

View New York Market Trends for other property types for sale or lease. Learn more about the chart info.

Created 10/3/2013
175-42 Hillside Avenue
  • Retail
  • $3,000,000
  • 2,054 SF