3649-3651 Main St
Flushing, NY 11354
Assemblage of Main Street Retail · Retail Property For Sale

3641-3647 & 3651 Main Street & 36-48 Main Street is an assemblage of retail properties in Downtown Flushing. The assemblage equates to 32,613 building square feet and a total 98,558 buildable square feet. Currently existing is approximately 50,173 square feet of air rights combined. Each building is fully-occupied through 2020 and 2022, all paying below market rent posing tremendous upside in rent. THE MAIN STREET PORTFOLIO: Stephen R. Preuss of Cushman & Wakefield has been exclusively retained on an exclusive basis for the sale of ‘The Main Street Portfolio’. This opportunity consists of the most dynamic and impactful retail driven portfolio in the entire borough. The package includes six (6) retail focused assets, which currently are leased at an average of nearly 40% of the current market rates, along with significant development rights all located within one block of each other. This Flushing section of Main Street is by far the highest paying retail and office corridor in all of Queens where retail rents routinely exceed $200 per square foot and office rates can reach $80+ per square foot. This is a once in a generation opportunity to capture the best retail and re-development opportunity in the outer boroughs with a true substantial value-add proposition. The portfolio consists of 171,892 gross building square feet with a total 265’ of frontage on Main Street and 178’ of frontage on 37th Avenue off the corner of Main Street. All buildings are fully-leased with the exception of 135-28 37th Avenue and 37-02 Main Street. The average rental amount in this portfolio is approximately 60% below market rent for this corridor with the majority of the tenants operating in the last term of their lease. This package offers an approximate 317,121 gross buildable square feet and gross 169,429 square feet of current air rights. the 7 train is steps away from the package location and this Flushing stop is the busiest passenger location in all of the boroughs outside of Manhattan.