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Key Food Supermarket 16320 Crossbay Blvd 9,767 SF Retail Building Howard Beach, NY 11414 $12,000,000 ($1,228.63/SF) 9.14% Cap Rate
INVESTMENT HIGHLIGHTS
- CORPORATE-GUARANTEED WALGREENS ABSOLUTE NNN LEASE RUNS THROUGH OCTOBER 31, 2028.
- KEY FOOD OPERATES AS THE SUBTENANT AND HAS INVESTED HEAVILY IN RENOVATIONS, SIGNALING STRONG STORE PERFORMANCE AND LONG-TERM COMMITMENT TO LOCATION.
- THE PROPERTY IS A ~0.76-ACRE SITE WITH PARKING ON CROSS BAY BLVD WITH A 9,724 SF BUILDING AND STRONG VISIBILITY IN A HIGH-TRAFFIC RETAIL CORRIDOR.
- -THE STORE FUNCTIONS AS ESSENTIAL, GROCERY-ANCHORED RETAIL, DRAWING DAILY NEIGHBORHOOD TRAFFIC.
EXECUTIVE SUMMARY
-CORPORATE-GUARANTEED WALGREENS ABSOLUTE NNN LEASE RUNS THROUGH OCTOBER 31, 2028.
-THE PROPERTY IS A ~0.76-ACRE SITE WITH PARKING ON CROSS BAY BLVD WITH A 9,724 SF BUILDING AND STRONG VISIBILITY IN A HIGH-TRAFFIC RETAIL CORRIDOR.
-KEY FOOD OPERATES AS THE SUBTENANT AND HAS INVESTED HEAVILY IN RENOVATIONS, SIGNALING STRONG STORE PERFORMANCE AND LONG-TERM COMMITMENT TO THE LOCATION.
-THE STORE FUNCTIONS AS ESSENTIAL, GROCERY-ANCHORED RETAIL, DRAWING DAILY NEIGHBORHOOD TRAFFIC.
-THE PROPERTY IS A ~0.76-ACRE SITE WITH PARKING ON CROSS BAY BLVD WITH A 9,724 SF BUILDING AND STRONG VISIBILITY IN A HIGH-TRAFFIC RETAIL CORRIDOR.
-KEY FOOD OPERATES AS THE SUBTENANT AND HAS INVESTED HEAVILY IN RENOVATIONS, SIGNALING STRONG STORE PERFORMANCE AND LONG-TERM COMMITMENT TO THE LOCATION.
-THE STORE FUNCTIONS AS ESSENTIAL, GROCERY-ANCHORED RETAIL, DRAWING DAILY NEIGHBORHOOD TRAFFIC.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
9,767 SF
Building Class
B
Year Built/Renovated
2009/2014
Price
$12,000,000
Price Per SF
$1,228.63
Cap Rate
9.14%
NOI
$1,096,345
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.29
Lot Size
0.77 AC
Zoning
R3-1, R2, C2-2
Parking
42 Spaces (4.3 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14076-0118 | Improvements Assessment | $3,003,930 |
| Land Assessment | $449,550 | Total Assessment | $3,453,480 |
PROPERTY TAXES
Parcel Number
14076-0118
Land Assessment
$449,550
Improvements Assessment
$3,003,930
Total Assessment
$3,453,480
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Key Food Supermarket | 16320 Crossbay Blvd
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