Extended w/ 15% Bump in 2029! | USPS | Astoria (Queens), NYC
7.5yr USPS | 15% Bump in '29 | Transit-Rich + High-Density | Stability & Redevelopment Upside
Marketing description
SAB Capital is pleased to present the exclusive offering of a single-tenant United States Postal Service (USPS) facility located in the heart of Astoria, Queens. This rare investment opportunity is secured by a net lease with one of the most stable and creditworthy tenants in the market—USPS, a constitutionally backed federal institution that has operated at this location since 1988. With over 35 years of continuous occupancy, the Woolsey Station serves as one of the few dedicated postal facilities in Queens, functioning as a vital last-mile logistics hub in a dense, high-demand urban setting. The property generates $547,443 in annual rent with a 15% escalation in the renewal option period, offering predictable income and long-term growth potential.
Strategically positioned just 25 yards from the Astoria-Ditmars Blvd subway station—the terminal stop on the N and W lines—the property enjoys unmatched transit connectivity and benefits from continuous foot traffic and urban energy. The surrounding neighborhood features over 1.5 million square feet of retail GLA within a half-mile, including the July grand opening of Target just down the block, reinforcing the strength and momentum of the local retail corridor.
Astoria is one of New York City’s most desirable and resilient neighborhoods, known for its cultural vibrancy, strong housing market, and accessibility. The area boasts over 96,600 residents within a one-mile radius, with average household incomes exceeding $134,000 and median home values over $1 million. More than 78% of the local workforce walks, uses public transportation, or works from home, underscoring the neighborhood’s urban, transit-oriented character and long-term relevance.
The offering also includes ±28,560 square feet of available air rights on an 8,400 SF land parcel zoned C4-3 and R5B, presenting investors with valuable future redevelopment potential. With clean, fee simple ownership and a prime infill location, this asset represents a low-risk, long-term investment backed by a federally guaranteed tenant and significant real estate fundamentals.
Investment highlights
- Early Option Renewal | USPS renewed their option making the lease a firm 7.5yrs with a 15% rental escalation in 2029
- Investment-Grade Credit | Leased to the United States Postal Service (USPS), a constitutionally backed federal institution with unparalleled credit quality.
- Stable Cash Flow with Built-In Growth | The net lease structure provides $547,443 in annual rent with a 15% rent escalation in 2029, ensuring predictable income and rent growth.
- 35+ Years of Occupancy in Strategic Location | USPS Woolsey Station is one of the few dedicated postal facilities in Queens, serving as a vital last-mile logistics hub in an irreplaceable, high-density urban setting. USPS has operated at this location since 1988, highlighting the long-term stability, operational “stickiness,” and strategic significance of this asset within the USPS network.
- Prime Urban Location | Located in the heart of Astoria, Queens, one of New York City’s most vibrant and densely populated neighborhoods, offering strong long-term fundamentals.
- Fee Simple Ownership | Clean title with full control over land and building -- ideal for long-term hold, value-add, or redevelopment strategies.
- Air Rights & Redevelopment Potential | ±28,560 SF of available air rights with C4-3 and R5B zoning across an 8,400 SF land parcel presents significant future development upside.
- Unmatched Transit Connectivity | Positioned just 25 yards from the Astoria-Ditmars Blvd Subway Station, the terminal stop on the N/W lines, providing direct access to Manhattan and the broader NYC metro area.
- High-Density Demographics | Over 96,600 residents within a one-mile radius with an average household income of $134,440+ and a median home value exceeding $1 million—indicative of a highly affluent and stable population base.
- Dense Retail Corridor | Situated within a retail trade area exceeding 1.5 million SF of retail GLA within a half-mile, reinforcing foot traffic and the long-term desirability of the location.
- Walkable & Transit-Oriented | More than 78% of the local workforce walks, uses public transportation, or works from home further validating the site’s strategic infill location and long-term relevance.
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