113-05 Springfield Blvd
Queens Village, NY 11429
Retail Property For Sale

Children Of America recently executed a brand-new 15-year lease that runs through 2034. They occupy 10,000 SF split between the ground and second floor, and they also have a 2,500 square foot rooftop playground. Their lease has 10% rental increase every five years, including in the option periods. They have two (5) five-year options to renew. They pay their utilities directly, and they are responsible for all their own non-structural repairs and maintenance. The landlord is responsible for paying the real estate taxes, the insurance and for all roof and structural responsibility. The property possesses two separate tax abatements. The first is an ICIP Exemption that began in 2011 and expires in 2026. That abatement was granted for the new construction of the retail property. The second abatement is an ICAP Exemption that begins in 2020 and runs through 2035. That exemption is for the new construction of the second floor, which was just recently completed. The property sits on a 10,818 square foot corner lot, directly next store to national retailers Dollar Tree, Metro PCS, White Castle and Dollar General.