Calling All Investors, Developers & End-Users!!! 7,200 Sqft. Building/ Development Site For Sale!!! Located On The Corner Of 6th Avenue & W. 21st Street (Only 2 Blocks Away From Madison Square Park)!!! The Property Features High Ceilings, Great Exposure, Excellent Signage, Huge Upside Potential, +++!!! Neighbors Include Best Buy, Bounce, Michael's, Slate, McDonald's, Marshalls, Staples, The Outback, Trader Joe's, +++!!! According To The Owner Another 4.5 Stories (14,500 Sqft.) Can Be Developed!!! The Property Is Currently Home To A Successful Liquor Store, Lounge & T-Mobile. T-Mobile's Cell Tower Lease Has 3 Years Remaining. The Cell Companies Are Aggressively Seeking A Lease.
Income:
Liquor Store: $468,000
Lounge: $192,000
T-Mobile: $49,644
Roof: $200,000 (Available)
Gross Income: $899,644 (Proforma)
Expenses:
Insurance: $17,000
Taxes: $165,000
Total Expenses: $182,000
Net Operating Income (NOI): $717,644 (Proforma)