229-19 Merrick Boulevard, Laurelton NY 11413
ICONIC CORNER RETAIL WITH LONG-TERM TENANTS IN LAURELTON, QUEENS
Marketing description
East Coast New York proudly presents 229-19 Merrick Boulevard, a highly visible, corner-positioned retail gem in the heart of Laurelton, Queens. This one-story multi-tenant building delivers both immediate cash flow and long-term stability. Fully leased with loyal tenants, some calling this spot home for over a decade, every lease comes with 3% annual rent escalations and tenants who pay their own utilities and reimburse property taxes, making ownership almost effortless. Nestled on bustling Merrick Boulevard, the area is a retail hotspot featuring Walgreens, Duane Reade, Family Dollar, Chase, and more, ensuring constant foot traffic and visibility. Renovated in 2006 and perfectly positioned on a signalized corner, this property is a rare chance to grab a turnkey, income-producing asset in a supply-constrained Queens market. Investors, developers, and savvy retail enthusiasts, this is where your portfolio meets prime visibility, reliable tenants, and long-term growth. Don’t just buy a building, own a corner of Laurelton’s retail heartbeat!
Investment highlights
- 100% Occupied Corner Retail: A fully leased, 6,508 SF multi-tenant retail building situated on a prime signalized corner with 74 feet of frontage on bustling Merrick Boulevard.
- Stable and Growing Cash Flow: Every lease features 3% annual rent escalations, providing a consistent hedge against inflation and long-term income growth.
- Low-Management "Hands-Off" Asset: Tenants pay their own utilities and reimburse property taxes, significantly reducing owner expense responsibilities and making the asset nearly effortless to manage.
- Diverse and Loyal Tenant Roster: Features a mix of seven commercial units, including a UPS Franchise, a liquor store, and established local services, with several tenants remaining at this location for over a decade.
- Additional Upside Potential: Includes a rooftop antenna lease with Verizon, and the property has recently received cash buyout offers for this lease ranging from $260,000 to $315,000.
- Prime Queens Location: Located in a supply-constrained market and surrounded by national retailers such as Walgreens, Duane Reade, Family Dollar, and Chase, ensuring high visibility and constant foot traffic.
- Well-Maintained Infrastructure: Originally built in 1937 and underwent a comprehensive renovation in 2006, offering a turnkey investment for savvy retail enthusiasts.
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