FOUR COMMERCIAL STORES FOR SALE 4% CAP RATE INVESTMENT OPPORTUNITY

In Contract
Stelios Hiotis
Licensed Associate Real Estate Broker
Phone: 646.341.0404
Kevin Cargon
Licensed Associate Broker
Phone: 347-698-3106
Liang Li
Licensed Real Estate Salesperson
Phone: 347.860.5005
47-44 Vernon Blvd, Long Island City, NY 11101
Phone: 718-707-0200
Fax: 718-707-0233
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EXCLUSIVE

Location

119-20 Rockaway Blvd
Queens NY 11420
Cross street:120th street

Property

Ownership: For Sale
Type: Retail
Bedrooms: Studio
Area: 3362 sq ft
Lot Size: 3407 sq ft

Financials

Price: $2,899,000
Annual Taxes: $16,400

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Description

Stelios Hiotis,Kevin Cargon and Liang Li of Nest Seekers International have been retained on an exclusive basis to arrange for the sale of 119-14,16,18,20 Rockaway Blvd located in Ozone Park New York. The property has been under the same ownership for over 10years! Property was built in 2007. Great investment opportunity.

11914 -11920 Rockaway Boulevard is located in booming South Ozone Park. Property prices and developments are starting to become a trend in this part of Queens.
The 4 store-front properties look directly onto the very busy Rockaway Boulevard. On Rockaway Boulevard, you have easy and fast access to the Aqueduct Racetrack, Resorts and World Casino,
The Home Depot and access to the Belt Parkway and Van Wyck Expressway.
If you refer to a map you will see that 11914-11920 Rockaway Boulevard is perfectly located. Rockaway Boulevard is one of the main streets that take you to JFK Airport. The street also serves as one of the fastest ways to get to the Belt Parkway and the Van Wyck.
The sale of 11914-11920 Rockaway Boulevard includes 4 retail store front buildings measuring 20x43 with 20 foot high ceilings.
The high ceilings offer the potential for a second floor and more income. The 4 new buildings were completed in 2007, all 4 properties
are leased out with very healthy rent rolls. The current leases are all Gross leases , which helps keep the expenses very low.
This is a high cash flow investment with a lot of upside. The leases have an annual increase agreement of 6%.
The property is 100% clean of any violations or liens for a speedy closing

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.

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.