Listed by Ariel Property Advisors
$3,750,000
6-11 & 6-15 Beach 20th St
Details
Property Type Retail, Multifamily
Sub Type Apartment Building, Commercial
Square Footage 40,000
Cap Rate 9.73%
NOI $218,872
Stories 2
Lot Size (SqFt) 20,000
Zoning R5 / C1-2
Mixed-Use Development / Existing Retail
Marketing description
For sale
Investment highlights
- Two adjacent lots totaling 20,000 SF on the west side of Beach 20th Street between Cornaga and New Haven Avenues
- R5/C1-2 zoning allows for a 30,000 SF mixed-use development with the UAP bonus or 40,000 SF community facility
- Currently, 6-11 Beach 20th Street consits of one 1,845 SF building with 3 month-to-month retail tenants, and parking
- 6-15 Beach 20th Street is a vacant 9,000 SF building
- Ability for a user to occupy the existing retail space and utilize the parking
- Perfectly situated a few blocks from the beach and boardwalk. In close proximity to several schools. Nearby retailers include CVS, Key Foods Supermarket & Bank of America.
- 5-minute walk to the Far Rockaway/Mott Ave A train station and just steps from the Carnega Ave/Beach 20th Street Q22 bus stop
- Conveniently close to the Special Downtown Far Rockaway District, which was rezoned in 2017 to spur development in the area and create a vibrant mixed-use community.
Listing Contacts
Listed by Ariel Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$218,872.00
$18,239.33/mo
Valuation Metrics
0
DSCR
5.84%
Cap Rate
5.84%
ROI
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