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24167743
29187498

88-22 Roosevelt Ave, Queens, NY 11372 For Sale

Hanmi Realty
Listed by Hanmi Realty
$1,850,000
485 days on market
Updated 6 days ago

Medical Office Retail Community Religious School Day Care

Details
APN 01510-0064
Property Type Office, Retail (+1)
Sub Type Medical Office, School (+1)
Square Footage 2,818
Net Rentable (SqFt) 2,818
Units 3
Cap Rate 6.50%
NOI $120,000
Occupancy 100%
Tenancy Multi
Lease Type Gross
Broker Co-Op Yes
Year Built 1989
Buildings 1
Stories 2
Lot Size (SqFt) 1,093
Zoning C2-3, R6
Tenant Credit No Credit Rating
Ground Lease No

Medical Offices Beauty Salon Retail Fully Occupied Three Units

Marketing description

Prime location in the heart of Jackson Heights! Great street frontage, sign visibility, foot and 12k+ car traffic per day. Three commercial units, fully occupied and built in 1989 with great net rental income. Total around 2,818 square feet including the cellar.

Very busy beauty salon for many years around 950 sq ft on the street side floor rented for $5k+ utilities month to month. Tenant in cellar around 918 sq ft rented for $5k+ utilities month to month. Second floor real estate office around 950 sq ft. rented for $3k+ utilities. Fresh paint and nice tile floors.

Current yearly rental income $156k. Current yearly net income around $120k yearly @ 6.5% cap! Yearly property taxes $26,956.

Building Class K2 - Multi-Story Retail Building (2 Or More). Zoning C2-3, R6. Lot size 1,093 sq ft. Sold as is. $1.85 million with seller financing in one of the hottest commercial districts in New york city! Please do not disturb tenants.

Commuter and walker paradise next to the #7 train at 90th st & Elmhurst ave, ethnic restaurants, cafes, shops, Dunkin Donuts, Bravo/Key Food/Mi Tierra supermarkets, other family owned groceries and pharmacies, medical facilities, Medicaid & Medicare providers such as (Fidelis Care, Metroplus Health, Healthfirst), Planet Fitness and Western Union. Near ModernMD Urgent Care, Mount Sinai Medical, Elmhurst hospital, Duane Reade/Walgreens, Herbalife Vida Bella club, McDonald's, Taco bell, UPS, Fedex, banks, Money gram, PLS check cashers, Target, SAMA department store, Lot less, Roosevelt shopping mall, Cricket wireless, T mobile, Sunday farmers market at Travers park, post office, police and fire stations.

Ultimate convenience nestled between Brooklyn Queens expressway and Grand Central parkway with close access to multiple transit options from the 74th St & Roosevelt Ave. hub including the E, F, M, R subways, Q29, Q32, Q33, Q49, Q53, Q72 and the free Q70 LaGuardia airport/LIRR Woodside link express bus. Around 15 minutes non rush hour drive to LGA and 30 mins to Manhattan by car or subway!

For questions and appointments, contact Diane Mi Ryoung Chong at 718-640-4431, [email protected]. Real estate agent at Hanmi Realty.

Listing Contacts

Hanmi Realty
Listed by Hanmi Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$120,000.00
$10,000.00/mo

Valuation Metrics

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DSCR
6.49%
Cap Rate
6.49%
ROI

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Additional Information

Name
Diane Mi Ryoung Chong
License
10401220770
Brokerage
Hanmi Realty
Brokerage Phone
718-961-8801
Title
Realtor
Brokerage Address
37-17 Union Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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