New York, NY 11375

Property

Ownership: For Sale
Type: mixed-use
Bedrooms: Studio
Lot Size: 0.1 Acres

Financials

Price:$11,000,000
Annual Taxes:$171,378
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of All Island Estates Realty Corp

Calling All Investors, Developers amp ; End Users !

Description

Calling All Investors, Developers & End-Users!!! 100% Occupied New Mini Mall In Forest Hills For Sale!!! The Property Is Located In The Heart Of Forest Hills On 71st Avenue Just Off Queens Blvd. Only Minutes From Forest Hills Stadium & Queens Center!!! The Property Is Situated On A 6,600+ Sqft. Lot Only Minutes From The Grand Central Pkwy., Van Wyck Expy. & Jackie Robinson Pkwy.!!! The Building Features Excellent Signage, Great Exposure, Long Term Leases, C4-5X/R7X Zoning, High 8’ Ceilings, 3 Stories, 2 Lots, 3 Phase Power, All New LED Lighting, CAC, +++!!! Neighbors Include Starbucks, Chevrolet, Costco, The Home Depot, P.C. Richard & Son, Best Buy, Target, Planet Fitness, Shake Shack, The Vitamin Shoppe, Trader Joe’s, Regal Cinemas, Walgreens, Dunkin’, Jersey Mike’s Subs, Chick-fil-A, Wendy’s, +++!!! The Property Has 49’ Of Frontage On 71st Avenue!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Pizzeria (Front): $168,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2032. Pizzeria Restaurant (Rear): $180,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2032. Azad Coffee: $144,000 Ann.; 3% Ann. Inc.; Lease Exp.: 1/1/2030. Royal Beauty Spa: $180,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2/1/2031. Expenses: Electric: $0 Ann. Water & Sewer: $0 Ann. Insurance: $6,825 Ann. Maintenance & Repairs: $250 Ann. Taxes: $171,378 Ann. Gross Income: $672,000 Ann. Total Expenses: $178,453 Ann. Net Operating Income (NOI): $493,547 Ann.

Amenities

  • Electricity Connected
  • Sewer 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.