New York, NY 11385

Property

Ownership: For Sale
Type: Retail
Bedrooms: Studio

Financials

Price:$2,800,000
Annual Taxes:$35,082
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Apple Realty Group Corp

Excellent investment opportunity in the heart of Ridgewood !

View of commercial property

View of commercial property

View of commercial property
View of commercial property
View of commercial property
View of commercial property
Community laundry with washing machine and dryer and brick patterned flooring
Community laundry with washing machine and dryer and brick patterned flooring
View of commercial propertyView of commercial propertyView of commercial propertyView of commercial propertyCommunity laundry with washing machine and dryer and brick patterned flooringCommunity laundry with washing machine and dryer and brick patterned flooring

Description

Excellent investment opportunity in the heart of Ridgewood! 18-14/16 Putnam Avenue is a fully leased commercial property situated on a 50' x 100' lot with a 50' x 100' building footprint. Zoned R6B/C1-4. The property is occupied by an established laundromat tenant under a long-term lease from January 1, 2020 through December 31, 2034. Current monthly rent is $8,819.24 with 3% annual increases. Tenant is responsible for electric, gas and water. OWNER FINANCING AVAILABLE: Owner may finance up to 50% of the purchase price for 10 years at 6% interest, offering an attractive financing opportunity for qualified buyers. Excellent opportunity for investors seeking stable rental income, contractual annual rent growth and long-term tenancy in a desirable Ridgewood location. Conveniently located near neighborhood businesses, residential communities, shopping and transportation. All information is deemed reliable but should be independently verified by purchaser.

Amenities

  • Electricity Connected
  • Natural Gas Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.