139 20 109th Avenue
5,000 SF | 100% Leased | Industrial Building | Jamaica, NY 11435 | $3,475,000 ($695/SF) | 4.95% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,475,000
- Property Type
-
Industrial
- Price / Square Foot
- $695
Listing Contacts
Alex Adorno
Verified Profile
Dennis Taveras
Verified Profile
- Property Info
Property Overview
Nestled in a bustling neighborhood, this mixed-use property presents a compelling opportunity. The second floor features a meticulously upgraded apartment with high-quality finishes, fixtures, and modern appliances, offering a comfortable urban living space.
On the first floor, you'll discover a trio of distinct tenants and uses. The first unit houses a broadcaster, the second is dedicated to sign and window manufacturing, and the third operates as an independently run commissary and food preparation facility. This third space is exclusively dedicated to serving the property's largest tenant, Jamaican Jerk, providing food preparation for its food trucks and stations across the city.
Beyond the building, the property encompasses a yard and two additional lots, currently leased for storage by a catering company. This versatile use of space opens doors to additional income streams. What truly sets this property apart is the independently operated commissary and food preparation facility, fully equipped to meet the requirements of a local catering business. This facility adds an extra layer of versatility, making the property an even more attractive investment.
The property operates on a modified gross basis, with tenants contributing to real estate taxes and covering all building utilities, offering a sustainable financial arrangement. Positioned at the corner of 109th Avenue and 141st Street, the property benefits from excellent visibility and access. Its professionally finished exterior with smooth exterior stucco adds a touch of sophistication to its overall appearance.
Contact Alex Adorno at 772-985-2577 to Schedule an Inspection and discuss potential lending options, including Seller financing.
On the first floor, you'll discover a trio of distinct tenants and uses. The first unit houses a broadcaster, the second is dedicated to sign and window manufacturing, and the third operates as an independently run commissary and food preparation facility. This third space is exclusively dedicated to serving the property's largest tenant, Jamaican Jerk, providing food preparation for its food trucks and stations across the city.
Beyond the building, the property encompasses a yard and two additional lots, currently leased for storage by a catering company. This versatile use of space opens doors to additional income streams. What truly sets this property apart is the independently operated commissary and food preparation facility, fully equipped to meet the requirements of a local catering business. This facility adds an extra layer of versatility, making the property an even more attractive investment.
The property operates on a modified gross basis, with tenants contributing to real estate taxes and covering all building utilities, offering a sustainable financial arrangement. Positioned at the corner of 109th Avenue and 141st Street, the property benefits from excellent visibility and access. Its professionally finished exterior with smooth exterior stucco adds a touch of sophistication to its overall appearance.
Contact Alex Adorno at 772-985-2577 to Schedule an Inspection and discuss potential lending options, including Seller financing.
Property Details
- Class
- B
- Year Built/Renovated
- 1950/2018
- Stories
- 2
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 9,148 SF
Highlights
- Diverse rental spaces
- Modern updates
- Enviable location
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