Map of Property

34-12 10th St

34-12 10th St, Queens, NY 11106

  • For Sale $16,640,000
  • Property Type Special
  • Property Size 24,000 SF
  • Lot Size 18,213 SF
  • Date Updated Apr 26, 2024

99-Year Leasehold with No FMV Resets Tenant: Growing Up Green Charter School New 32-Year NNN Lease In Place

INVESTMENT HIGHLIGHTS #1 BUILDING BREAKDOWN • ~24,000 sq. ft, three-story, middle school, grades 6-8 • Gymnasium with regulation sized basketball court, science laboratories, specialty art rooms and outdoor play area • TCO is anticipated in January 2023, with the school taking possession July 1, 2023 #2 TENANT BREAKDOWN • Growing Up Green Charter School • 32-year, NNN lease • Four additional current locations in Queens • Landlord is responsible for roof and structure • Tenant is responsible for maintaining building systems, outdoor space including snow/ice removal, landscaping and all fixtures/appurtenances #3 LEASEHOLD BREAKDOWN • 99-year leasehold • No FMV resets (unless upzoning occurs) • Estimated minimum gross rent at year 1 shall be $1,475,296.20 • Gross rent is derived from 30% of the Per Pupil Funding ("PPF") multiplied by the fixed student enrollment • The 30% PPF is estimated to be $5,287.80 and enrollment shall be 279 students #4 BUDGET BREAKDOWN • Annual rent increases shall be determined by the New York State Legislature in its annual approved budget for all New York State public charter schools • Historically, the 5-year average budget increase is 3.13%

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

broker

Stephen R. Preuss Is this you?

RIPCO Real Estate

(718) 663-2639

broker

Andreas Efthymiou Is this you?

RIPCO Real Estate

(718) 663-2643

broker

Christian Allimonos Is this you?

RIPCO Real Estate

(718) 663-2651

Location

Getting Around

  • Walk Score ®

    85/100 Very Walkable

  • Transit Score ®

    83/100 Excellent Transit

  • Bike Score ®

    87/100 Very Bikeable
Powered by Walk Score ®
  • City Queens, NY
  • Neighborhood LIC
  • Zip Code 11106
  • Market Queens

Points of Interest

  • Broadway

    0.74 miles

  • 36th Avenue

    0.74 miles

  • 21st Street–Queensbridge

    0.74 miles

  • Roosevelt Island

    0.83 miles

  • 39th Avenue

    0.88 miles

  • 30th Avenue

    0.93 miles

  • Queensboro Plaza

    0.97 miles

  • 36th Street

    1.03 miles

  • Midtown Operating

    1.04 miles

  • 72nd Street & 2nd Avenue at Southeast Corner

    1.04 miles

  • Citgo

    0.35 miles

  • BP

    0.39 miles

  • Mobil

    0.39 miles

  • Shell

    0.50 miles

  • Atlantic

    0.58 miles

  • Lukoil

    0.69 miles

  • plugNYC

    0.81 miles

  • Mobil

    0.84 miles

  • Sunoco

    0.92 miles

  • ChargePoint

    0.99 miles

  • Motorgate Public Parking Garage

    0.38 miles

  • Surrey Garage

    0.79 miles

  • Astoria Park Parking

    1.17 miles

  • iClean

    1.20 miles

  • Knickerbocker Plaza Car Park

    1.31 miles

  • Astor Terrace Parking Garage

    1.37 miles

  • Quik Park

    1.37 miles

  • LaGuardia Community College Parking Lot

    1.40 miles

  • Quik Park

    1.44 miles

  • Central Parking System of New York, Inc.

    1.49 miles

  • Super 8

    0.32 miles

  • Baymont

    0.36 miles

  • Hotel Nirvana

    0.38 miles

  • Comfort Inn

    0.48 miles

  • Giorgio Hotel

    0.56 miles

  • Mayflower Howard Johnson Hotel

    0.58 miles

  • Wingate by Wyndham Long Island City

    0.58 miles

  • Best Western Plaza

    0.61 miles

  • Sleep Inn Hotel

    0.61 miles

  • Lotus BLU Inn & Suites

    0.63 miles

  • Napoli Pizza and Pasta

    0.23 miles

  • Niforos Corner

    0.23 miles

  • 3 Greeks Grill

    0.24 miles

  • The Melting Pot

    0.25 miles

  • Dunkin'

    0.32 miles

  • Popeyes

    0.33 miles

  • Burger King

    0.34 miles

  • Palace Fried Chicken

    0.36 miles

  • Sam Lee Kitchen

    0.37 miles

  • Deli

    0.38 miles

  • Public School 76

    0.28 miles

  • Long Island City High School

    0.33 miles

  • Public School 111 Jacob Blackwell

    0.43 miles

  • I.S. 126Q Albert Shanker School for Visual & Performing Arts

    0.49 miles

  • Public School 112

    0.58 miles

  • Public School 171

    0.69 miles

  • Lycée Français de New-York

    0.71 miles

  • Public School 4

    0.73 miles

  • Chapin School

    0.73 miles

  • Queens Lutheran School

    0.82 miles

  • Bright Start

    0.68 miles

  • The Learning Experience Day Care

    0.77 miles

  • Astoria Child Daycare

    0.93 miles

  • Bright Horizons

    1.03 miles

  • Bright Start

    1.37 miles

  • My Treehouse

    1.43 miles

  • Arc En Ciel

    1.43 miles

  • NY Kids Club

    1.45 miles

  • Preschool of America

    1.62 miles

  • City Owlets

    1.71 miles

Frequently Asked Questions

What is the lease rate for 34-12 10th St?

Rental asking rate at 34-12 10th St is $8,320,000.00/YR.

What is the total square footage of 34-12 10th St?

34-12 10th St totals 24,000 square feet.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact 34-12 10th St