Invictus Property Advisors, as exclusive agent, is pleased to announce the sale of 103-19 & 103-23 Merrick Boulevard in Jamaica, Queens. The property traded for $2,950,000 (or $296/SF) to a 1031x buyer who was looking to place equity into a stabilized NNN retail asset with future redevelopment potential. The building is located on the highly visible Merrick Boulevard strip, which intersects with Liberty Avenue and is adjacent to York College. Several national retailers populate the area, including: Dunkin Donuts, Popeyes, Papa Johns, Pep Boys Auto Parts, The Home Depot and Domino’s Pizza, among others.
“The asset was meticulously managed with zero (0) DOB violations and a comprehensive deck of due diligence items. Given the macro retail environment, positioning this as a clean asset to market helped us secure a retailer with 1031x proceeds and limited time to identify,” said Andrew Levine, Co-Founder of Invictus Property Advisors.
The property is a short 10-minute walk away from the F subway line on 169th Street and Hillside Avenue and E, J & Z Lines at Jamaica Center – Parsons/Archer. The building is also one mile away from the Jamaica Long Island Railroad Station with access to Penn Station and Midtown Manhattan in less than 20 minutes. There is also a curb cut with a 15’ x 100’ parking lot at the rear of the building.
For a complimentary valuation on your property or to discuss on and off-market opportunities, please reach out to learn more.
