REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,150,000
Est. payment | /mo
$ 2,150,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 953323
Rental Info No
Year Built 1917
Annual Tax Amount $37,676
Property Sub-Type Multi Family
Source onekey2
Property Description
Calling All Investors, Developers, & End-Users!!! 8.86 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8' Ceilings, 2 Stores, (5) 1 Br. Apartments, Basement, 6 Parking Spaces, Separate Meters, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!! The Property Has 20' Of Frontage On Baxter Avenue!!! Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald's, Chick-fil-A, Wendy's, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Jeweler: $54,000 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far.
Hair Salon: $42,000 Ann.; 3 Year Lease.
Apt. A (1 Br.): $24,000 Ann.
Apt. B (1 Br.): $24,000 Ann.
Apt. C (1 Br.): $24,000 Ann.
Apt. D (1 Br.): $24,000 Ann.
Apt. E (1 Br.): $24,000 Ann.
Tax Rebate (Paid By The Store): $18,500 Ann.
Gross Income: $234,500 Ann.
Expenses:
Gas: $0 Ann.
Electric: $720 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,000 Ann
Insurance: $3,423 Ann.
Taxes: $37,676.20 Ann.
Total Expenses: $44,069.20 Ann.
Net Operating Income (NOI): $190,430.80 Ann. (8.86 Cap!!!)
Income:
Jeweler: $54,000 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far.
Hair Salon: $42,000 Ann.; 3 Year Lease.
Apt. A (1 Br.): $24,000 Ann.
Apt. B (1 Br.): $24,000 Ann.
Apt. C (1 Br.): $24,000 Ann.
Apt. D (1 Br.): $24,000 Ann.
Apt. E (1 Br.): $24,000 Ann.
Tax Rebate (Paid By The Store): $18,500 Ann.
Gross Income: $234,500 Ann.
Expenses:
Gas: $0 Ann.
Electric: $720 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,000 Ann
Insurance: $3,423 Ann.
Taxes: $37,676.20 Ann.
Total Expenses: $44,069.20 Ann.
Net Operating Income (NOI): $190,430.80 Ann. (8.86 Cap!!!)
Location
State NY
County Queens
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features On Street
Utilities Available Natural Gas Available
Total Parking Spaces 6
Building
Story 3
Sewer Public Sewer
Water Public
Structure Type Frame
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • Richard Matt Shane
GET MORE INFORMATION