105-20 Rockaway Beach Boulevard, Rockaway Park, NY 11694
58,744 Square Foot Medical Center
For Sale - Asking Price: $42,000,000
Rockaway Beach Medical Arts Complex
105-20 Rockaway Beach Boulevard, Rockaway Park, NY 11694
For Sale - Asking Price: $42,000,000
105-20 Rockaway Beach Boulevard Offering Memorandum (PDF)
Modern Spaces Commercial + Investment Division has been exclusively retained to arrange for the sale of the Rockaway Beach Medical Arts Complex located at 105-20 Rockaway Beach Boulevard, a four year old fully occupied medical office building in Queens, New York City. Completed in 2020, this high-end new construction facility contains 58,744 square feet of exam rooms, medical administrative offices, therapy centers, and operating rooms as well as a parking lot for 115 cars. The property received an “Operating Certificate” from the New York State Department of Health for ambulatory surgery.
Located in Rockaway Park, Queens, the property is conveniently located less than 10 miles, or about 20 minutes from JFK airport. There is an A train subway stop at the foot of the building as well offering direct access to Brooklyn and Manhattan. The Rockaway NYC ferry dock is located at the nearby intersection of Beach Channel Drive and Beach 108th Street, offering transit directly to the Brooklyn Army Terminal and Wall Street stops.
The building is currently 100% leased of which about half is occupied by St John’s through 2030-2032 before tenant options. With a healthy gross income of $2,903,509 and an NOI of approximately $2,305,814, the building offers an investor a turnkey, income producing asset with potential for long term rent growth making it an ideal for an investor or 1031 exchange buyer.
Contact:
Evan Daniel: 516-508-8189 or evan@modernspacesnyc.com
