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88-20 Roosevelt Avenue, Jackson Heights, NY 11372 For Sale

MH
NY NY 10301219933
Wagner & Kelly
Listed by Wagner & Kelly
$2,100,000
4 days on market
Updated 4 days ago

88-20 Roosevelt Avenue

Details
Property Type Retail, Office (+1)
Sub Type Bar, Shopping Center (+1)
Square Footage 2,818
Units 3
Cap Rate 3.97%
NOI $83,344
Tenancy Multi
Lease Type Modified
Pro-Forma Cap Rate 4.71%
Pro-Forma NOI $99,000
Price per SqFt $745
Class C
Year Built 1987
Buildings 1
Zoning R6
Ground Lease No
Sale Condition N/A

About This Property for Sale

Marketing description

Prime 3-Unit Commercial Building in Heart of Jackson Heights. Discover an incredible investment opportunity in one of Queens' most vibrant, high-traffic commercial corridors. Located in the heart of Jackson Heights, this versatile three-unit commercial building offers immense upside potential for savvy investors or owner-users. Value-Add Opportunity: Current rental income is below market rate, offering significant future revenue growth as leases turn over or transition to market value. Separate Utilities: Tenants pay their own utilities, keeping landlord operational expenses exceptionally low. Unmatched Location Equity: Situated in a dense, high-foot-traffic retail and business district with excellent transit accessibility. Regional Connectivity: Enjoy close proximity to major New York landmarks and upcoming world-class entertainment hubs, including Citi Field (Mets Stadium), the USTA Billie Jean King National Tennis Center, and the highly anticipated future casino development.

Investment highlights

Prime 3-Unit Commercial Building in Heart of Jackson Heights. Discover an incredible investment opportunity in one of Queens' most vibrant, high-traffic commercial corridors. Located in the heart of Jackson Heights, this versatile three-unit commercial building offers immense upside potential for savvy investors or owner-users. Value-Add Opportunity: Current rental income is below market rate, offering significant future revenue growth as leases turn over or transition to market value. Separate Utilities: Tenants pay their own utilities, keeping landlord operational expenses exceptionally low. Unmatched Location Equity: Situated in a dense, high-foot-traffic retail and business district with excellent transit accessibility. Regional Connectivity: Enjoy close proximity to major New York landmarks and upcoming world-class entertainment hubs, including Citi Field (Mets Stadium), the USTA Billie Jean King National Tennis Center, and the highly anticipated future casino development.

Listing Contacts

MH
NY NY 10301219933
Wagner & Kelly
Listed by Wagner & Kelly

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$83,344.00
$6,945.33/mo

Valuation Metrics

0
DSCR
3.97%
Cap Rate
3.97%
ROI

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Additional Information

Name
Morshed Hoque
License
NY 10301219933
Brokerage
MD A. Hoque
Title
Associate Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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