127-01 Merrick Blvd, Jamaica, NY 11434
11-UNIT HIGH-VISIBILITY RETAIL STRIP CENTER INVESTMENT
Marketing description
East Coast New York proudly presents a high-visibility retail investment
opportunity in Southeast Queens. Located at 127-23 Merrick Blvd in Springfield
Gardens along busy Merrick Boulevard, the property features an established one-
story retail strip center with 11 storefront units serving the surrounding
neighborhood. The 13,466 SF building sits on a 15,400 SF lot with approximately
200 feet of frontage, providing excellent visibility and accessibility. Zoned R5D
with a C1-3 commercial overlay, the site supports neighborhood retail while
offering long-term flexibility for investors. This income-producing asset benefits
from strong foot and vehicle traffic and presents a rare opportunity to acquire a
well-located retail property in one of Queens’ active commercial corridors.
Investment highlights
1. High-Visibility Strategic Location
- Corner Presence: The property is a prominent one-story retail strip center located on a heavily trafficked commercial corridor in Jamaica/Springfield Gardens, Queens.
- Significant Frontage: Approximately 200 feet of frontage along Merrick Boulevard ensures maximum exposure to both vehicle and foot traffic.
2. Stable Income with Diversified Tenancy
- Multi-Tenant Risk Mitigation: With 11 storefront units, the investment is not dependent on a single tenant, reducing vacancy risk.
- Essential Neighborhood Services: The current tenant mix includes recession-resistant "daily needs" businesses such as medical supplies, restaurants (seafood, grill, Chinese), and local retail.
- Immediate Cash Flow: The property is 91% occupied, providing a current Net Operating Income (NOI) of $451,271.97.
3. Value-Add & Upside Potential
- Leasing Opportunity: There is one vacant unit (127-09), providing an immediate opportunity to increase the NOI to a pro-forma $500,432.25.
- Mark-to-Market Potential: Several leases are set to expire in 2026 and 2027, allowing an owner to renegotiate terms or bring rents up to current market rates.
4. Favorable Zoning and Long-Term Flexibility
- Zoning Specs: The site is zoned R5D with a C1-3 commercial overlay.
- Development Potential: While currently a stable retail center, the 15,400 SF lot and R5D zoning provide long-term flexibility for potential residential or mixed-use redevelopment in a growing Queens submarket.
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