Highcap Group" width="150" height="150" /> Josh Goldflam, Highcap GroupQueens, NY Josh Goldflam, managing principal of Highcap Group, has been assigned the exclusive listing for the sale of the property located at 194-14 Linden Blvd. in the St. Albans neighborhood of the borough, for $3.3 million. The property is currently raw land and will be developed into a newly built Burger King retail building with parking lot and drive thru.
Located on the corner of Linden Blvd. and 195th St., this well positioned property is across the street from Montessori Progressive Prep School and the United States Post Office building, and along the retail block of a densely populated residential neighborhood. Burger King is starting construction on a brand new 3,000 s/f building. The tenant has signed a new 20 year triple net lease with increases every 5 years and option periods as well.
“This is an excellent opportunity for an investor or a 1031 exchange buyer to acquire a corner property with a national credit tenant on an absolute NNN lease with zero landlord responsibilities whatsoever,” said Goldflam.
The asking price of $3.3 million equates to a capitalization rate of 4% and the seller and broker encourage all buyers to submit they best offers as soon as possible.
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