621 Beach 20Th St, Far Rockaway, NY 11691

16,360 SF | 100% Leased | Retail Building | Far Rockaway, NY 11691 | $6,950,000 ($425/SF) | 9.50% Cap Rate

Asking Price $6,950,000

Property Type: Retail
Square Feet: 16,360 SF
Price / Square Foot: $425

Listing Contacts

Matthew Shane

Verified Profile

Property Info

Property Overview

Calling All Investors, Developers & End-Users!!! MAJOR 42,522 Sqft. Queens Development Site For Sale Featuring Proforma 9.5 Cap 11 Unit Mixed-Use Building With HUGE Yard For Sale!!! The Property Features Great Exposure, Excellent Signage, Strong R5/C1-2 Zoning, 138 Parking Spaces, High 10’ Ceilings, 4 Lots, 8 Apartments, 3 Commerical Spaces, HUGE Yard, 2 Strategically Placed Curb Cuts, Separate Meters, CAC, +++!!! The Property Is Located In The Heart Of Far Rockaway Minutes From The Rockaway Fwy. In Between Beach Channel Dr. & Seagirt Blvd. !!! Neighbors Include Walmart, Chase Bank, CitiBank, Wyndham Hotels, BP Gas, U-Haul, CVS, T-Mobile, Boost Mobile, Dunkin’, McDonald’s, Key Food, Papa John’s, Domino’s, Popeye’s, Dollar General, Golden Krust, +++!!! This Could Be Your Next Development Site / The Next Home For Your Business!!!
Income:
Furniture Store (3,648 Sqft.): $92,620 Ann. M-M.
6 Room Apt: $18,960 Ann.; M-M.
7 Room Apt: $19,200 Ann.; M-M.
7 Room Apt: $13,120 Ann.; M-M.
6 Room Apt: $17,640 Ann.; M-M.
Parking For 6 Cars: $48,000 Ann.; M-M.
Yard (38,000 Sqft.): $600,000 Ann. (Available)
Proforma Gross Income: $809,540 Ann.
Expenses:
Gas: $0 Ann.
Electric: $3,100 Ann.
Maintenance & Repairs: $2,250 Ann.
Water & Sewer: $5,800 Ann.
Insurance: $6,000 Ann.
Flood Insurance: $3,000 Ann.
Taxes: $129,011.04 Ann.
Total Expenses: $149,161.04 Ann.
Net Operating Income (NOI): $660,378.96 Ann. (Proforma 9.5 Cap!!!)

Property Details

Class: C
Year Built/Renovated: 1931/2008
Stories: 3
Property Subtype: Storefront Retail/Residential, Freestanding, Distribution, Office/Residential
Lot Size (sq. ft): 42,689 SF

Highlights

Calling All Investors, Developers & End-Users!!! MAJOR 42,522 Sqft. Queens Development Site For Sale Featuring Proforma 9.5 Cap 11 Unit Mixed-Use Bldg
The Property Features Great Exposure, Excellent Signage, Strong R5/C1-2 Zoning, 138 Parking Spaces, High 10’ Ceilings, 4 Lots, 8 Apartments, +++!!!
The Property Is Located In The Heart Of Far Rockaway Minutes From The Rockaway Fwy. In Between Beach Channel Dr. & Seagirt Blvd. !!!
Neighbors Include Walmart, Chase Bank, CitiBank, Wyndham Hotels, BP Gas, U-Haul, CVS, T-Mobile, Boost Mobile, Dunkin’, McDonald’s, Key Food, +++!!!
This Property Offers HUGE Upside Potential!!!
This Could Be Your Next Development Site / The Next Home For Your Business!!!

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