120-07 15TH AVENUE, COLLEGE POINT, QUEENS

The subject property is a Free Standing Commercial Building, occupied by US Post Office on a NNN Basis. The property is located on a busy intersection of 15th Avenue and 120th street, College Point, Queens, NY. The Subject property including the structure and parking area is approximately 10,000 SF, Lot Dimensions are: 100 x 100 and entire site is occupied and used by the Post Office on a Long Term Lease. Breakdown of all property areas: Net Total Interior - 6,853 SF, Exterior, Platform and Ramp - 740 SF, Exterior Parking for USPS Trucks- 1,521 SF, Cellar - 591 SF, Additional Court Yard - 400 SF.

Initial Lease start date: Beginning March 01, 2018 and Ending February 28, 2023 at Annual Rate: $ 185,031.00. There will be an increase in rent Beginning March 01, 2023 and Ending February 29, 2028 at Annual Rate: $196,133.86. Additionally to the existing Lease, there is a Renewal Option, The Lease may be renewed at the option of the Postal Service, at following terms and the following Annual Rents: Effective Date March 01, 2028. Expiration Date: February 28, 2033. Per Annum Rental $215,745.00

Long Term tenancy and an excellent location, the property pose a rare and special opportunity for long term investors and for 1031 exchange buyers.