79-21 Queens Blvd, Queens, NY 11373 For Sale

Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in the building of a single-tenant medical office facility located in Queens, New York.

The Property consists of 0.20 acres and a one-story, 7,563-square-foot medical office building that was retrofit-to-suit in 2021 to the exact specifications of the Tenant. The Property is located along Queens Boulevard (54k VPD) just north of the interchange with the Long Island Expressway (182k VPD) and is just south of LaGuardia International Airport. It's also just west of Citi Field and the Billie Jean King National Tennis Center. There are approximately 2.52 million in population in a five-mile radius earning an average household income in excess of $111,000 annually.

The Tenant recently completed a comprehensive retrofit-to-suit to the exact standards of its brand-new prototype that is at the top end of the kidney care industry from a patient-quality and energy-efficiency design standard. The initial term of the lease is for fifteen (15) years and will feature three (3), five (5) year renewal options. The lease is the Tenant’s standard form it uses across the majority of its 2,800 locations, a highly passive net lease that is landlord friendly, offering minimal expense exposure given the new construction. The lease also provides for rental increases in the amount of ten percent (10%) every five (5) years.