22-44 Francis Lewis Blvd, Whitestone, NY 11357
22-44 Francis Lewis Blvd, Whitestone, NY 11357
Whitestone, Queens
Prime Whitestone Corner Retail – 8,617 SF NN Sale-Leaseback with Dime Community Bank
| Asking Pricing | $4,000,000 |
|---|---|
| Type | One story retail building |
| Neighborhood | Whitestone, Queens |
| Lot Size | 165 x 100 / 17,123 Sq. Ft. |
| Zoning Code | R2A |
| Size | 8,617 Sq. Ft. |
| Stories | 1 |
Investment Highlights:
Meridian Capital Group is pleased to exclusively offer 24-44 Francis Lewis Boulevard, a rare single-tenant net-leased asset in the heart of Whitestone, Queens. The property is a 2-story, 8,617-square-foot bank branch fully occupied by Dime Community Bank under a brand-new 10-year lease with 2.5% annual increases and two five-year renewal options. Positioned on a high-visibility corner lot with dedicated parking and a drive-through, the building serves as a strategic retail outpost for a major regional bank with over 150 years of operating history and a footprint of 60+ branches.
The property generates $237,000 in annual rent, with minimal landlord responsibilities and a projected year-one cap rate of 5.0%. Zoned R2A and located at the intersection of Francis Lewis Boulevard, 5th Avenue, and 24th Road, this offering combines investment-grade tenancy, predictable income growth, and a suburban-feel location within New York City — making it an ideal addition to any long-term income portfolio. The asset is offered at $4,000,000, or approximately $464 per square foot.
