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142-28 38th Avenue (Community Facility)
Retail | 7,396 SF
Listing Contacts
See All (3)Active
Asking Price: $4,000,000
Address
142-28 38th Ave, Flushing, NY 11354
Show on MapDate Added
Mar 19, 2025
Days on Market
92 days
Time Since Last Update
92 days
Details
Marketing Description
Kassin Sabbagh Realty (KSR) is exclusively marketing the mixed-use property at 142-28 38th Avenue in Flushing, Queens. This 11-story building encompasses approximately 53,225 square feet, featuring 23 residential units, four commercial units, and 47 parking spaces. The residential units offer modern amenities, including wood flooring, granite countertops, stainless steel appliances, and in-unit washer/dryers. The ground floor retail space boasts 22-foot ceilings with a mezzanine, providing an ideal setting for commercial ventures.
Situated in the heart of Downtown Flushing, the property benefits from high foot traffic and proximity to numerous dining, shopping, and entertainment options. Notable nearby establishments include Bodyrok Pilates, Starbucks, Equinox, SoulCycle, Chipotle, The Ned, Sweetgreen, The Ritz, Moxy Chelsea, and Cava. This property presents a prime opportunity for investors seeking a high-traffic location with strong neighborhood tenancy.
Investment Highlights
APPROXIMATE SIZE:
7,396 SF Second Floor
RE TAXES:
$90,000 annual
COMMON CHARGES:
$10,000/annum
NOI:
$236,000
COMMENTS:
-
Outdoor Space
-
Rented 10 year lease adult day care
LEASE START:
2024
EXPIRATION:
2034
ACTUAL:
$28,000
PRO FORMA:
$28,000
$/PSF :
$35
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
> $236,000.00
$19,666.67/mo
Valuation Metrics
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0
DSCR
5.9%
Cap Rate
5.9%
ROI
Property History
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Due Diligence
Listing Contacts
See All (3)Similar Properties for Sale
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