69-02 Austin Street, Flushing, NY 11375

List Price
Price Change
▼ $2,888,000 1686000551
Days on Market
Mixed Use
Sq Ft

Property Description

Calling All Investors, Developers & End-Users!!! 9.73 Cap 36 Unit 20,250 Sqft. Medical Office Building / Major 21,150 Sqft. Development Site For Sale!!!?The Property Features Excellent Signage, Great Exposure, High Ceilings, 53 Parking Spaces, Strong R5-D Zoning, 3 Phase Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Forest Hills Just 2 Blocks From Queens Blvd.!!!?Neighbors Include Chevrolet, Friday's, The Home Depot, Costco, Stop & Shop, CVS, Walgreens, Dunkin', Bath & Body Works, Planet Fitness, The Vitamin Shoppe, Ann Taylor, Boston Market, McDonald's, Wendy's, T.J. Maxx, Regal Cinemas, Trader Joe's, Shake Shack, +++!!! Income: Teeth Tamers: $140,383 Ann. Lease Exp.: 6/30/22.? Supermarket: $67,980 Ann.? Rey Pharmacy: $66,150 Ann. Lease Exp.: 2/14/25; 5 Year Option.? Store : Lab Corp (2,000 Sqft.): $90,000 Ann. Lease Exp.: 9/30/26; (2) 5 Year Options. Progressive Urology: $48,000 Ann. + $3,000 Ann. (Utility Fees).?Lease Exp.: 12/31/23.? 2nd Floor: 28 Offices (6,660 Sqft.): $720,000 Ann.?(Available) Third Floor: 28 Offices (6,660 Sqft.):?$652,680 Ann.?(Available) 14,400 Sqft. Parking Lot: $720,000 (Available) Additional Income: $29,578.58 Ann. Gross Income: $2,537,771.58 (Proforma) Expenses: Gas: $6,002 Ann.?Electric: $7,011 Ann.?Maintenance & Repairs: $1,450 Ann.?Insurance: $23,468.47 Ann.?Water: $3,099 Ann.?Taxes: $152,291 Ann.?Total Expenses: $193,321.47 Ann.?Net Operating Income: (NOI): $2,324,450.11 Ann. (Proforma 9.73 Cap!!!) Up To 18,600 Sqft. Can Be Delivered Vacant If Need Be. This Could Be Your Next Development Site Or Home For Your Business!!! This Property Offers HUGE UPSIDE POTENTIAL!!!

Additional Information

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Calculator source: Real Geeks

Listing courtesy of Listing Agent: Richard Matt Shane (matthewshane8828@gmail.com) from Listing Office: All Island Estates Realty Corp.

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