Listed by Alpha Realty NY
$36,500,000
6% Cap Mixed-Use Retail Hub: 82-10 Roosevelt Ave, Queens
Details
Property Type Retail, Multifamily
Sub Type Mixed Use
Square Footage 35,438
Units 8
Cap Rate 6.00%
NOI $2,201,509
Tenancy Multi
Year Built 1925
Stories 2
Zoning R6, C1-3
Investment Type Stabilized
Ground Lease No
Retail | 6.00% CAP | 35,438 SqFt
Marketing description
Roosevelt Ave Retail Hub at 82-10 Roosevelt Avenue, Queens, NY 11373 offers a rare opportunity to acquire a landmark mixed-use asset in the heart of Elmhurst. Spanning 35,438 SF across a full premium block frontage between 82nd and 83rd Streets, the property features 28 commercial spaces and 8 residential units within a 2-story walk-up configuration.
Positioned directly adjacent to the 82nd Street 7 train station, this high-visibility investment benefits from exceptional accessibility, dense foot traffic, and one of Queens’ most dynamic retail corridors. The offering is surrounded by major national and regional tenants including Starbucks, Chase, Chipotle, Sephora, Banana Republic, Ponce Bank, and Shake Shack.
This first-time-on-market opportunity in over 70 years combines institutional-scale presence with strong in-place income and long-term upside. The property is further supported by compelling area fundamentals, including approximately 35,000 daily pedestrians and $2.7 billion in average annual consumer spending. Adding to the growth story, the approved $8.1 billion Metropolitan Park development near Citi Field is expected to drive even more traffic and economic activity to the corridor.
A true generational asset in one of Queens’ busiest retail hubs.
Investment highlights
- Unprecedented 70-Year Family Legacy Asset: This property represents a historic, first-time-offered-for-sale multigenerational blockfront opportunity, ensuring a highly stable, historically proven asset base.
- The $8.1B Citi Field Casino & Metropolitan Park Catalyst: Positioned directly adjacent to the newly approved $8.1 Billion Metropolitan Park development project, this asset is poised to capture a massive tidal wave of secondary retail traffic, regional tourism, and submarket economic expansion.
- World-Class Retail Foot Traffic Metrics: Located on a premier retail block boasting over 35,000 daily pedestrians and a staggering $2.7 Billion in average annual consumer spending within the immediate submarket.
- Immediate Subway Proximity (Transit-Oriented Development): Directly adjacent to the high-volume 82nd St-Jackson Heights (7) subway station, and just 0.4 miles from the major Jackson Hts-Roosevelt Av express hub (E, F, M, R, 7 trains), ensuring permanent, effortless commuter access.
- Elite Neighboring Retail Synergy: Surrounded by a high-draw corporate tenant mix including Target, Starbucks, Chipotle, Sephora, Chase, Gap, Old Navy, and Shake Shack, driving continuous consumer cross-shopping.
Listing Contacts
Listed by Alpha Realty NY
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$2,201,509.00
$183,459.08/mo
Valuation Metrics
0
DSCR
6.03%
Cap Rate
6.03%
ROI
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