81-38 Baxter Ave - Storefront Retail/Residential FOR SALE


Flushing, NY 11373
$1,699,000 USD
516-279-8828
81-38 Baxter Ave, Flushing, NY for Sale
$1,699,000 USD
Storefront Retail/Residential - FOR SALE
1/20
null | 10.79% Cap Rate

81-38 Baxter Ave
Flushing, NY 11373


HIGHLIGHTS

  • Calling All Investors, Developers, & End-Users!!! 10.79 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!!
  • The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8’ Ceilings, (5) 1 Br. Apartments, Basement, Large Rear Yard, +++!!!
  • The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!!
  • The Property Has 20’ Of Frontage On Baxter Avenue!!!
  • Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald’s, Chick-fil-A, Wendy’s, +++!!!
  • This Property Offers HUGE Upside Potential!!!

OVERVIEW

Calling All Investors, Developers, & End-Users!!! 10.79 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8’ Ceilings, 2 Stores, (5) 1 Br. Apartments, Basement, 6 Parking Spaces, Separate Meters, Large Rear Yard, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!! The Property Has 20’ Of Frontage On Baxter Avenue!!! Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald’s, Chick-fil-A, Wendy’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Jeweler: $58,200 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far. Hair Salon: $26,400 Ann.; 3 Year Lease. Apt. 1R (1 Br.): $26,328 Ann. Apt. 2R (1 Br.): $23,448 Ann. Apt. 2F (1 Br.): $24,660 Ann. Apt. 3R (1 Br.): $24,720 Ann. Apt. 3F (1 Br.): $25,200 Ann. Tax Rebate (Paid By The Store): $18,500 Ann. Gross Income: $227,456 Ann. Expenses: Gas: $0 Ann. Electric: $720 Ann. Maintenance & Repairs: $250 Ann. Water & Sewer: $2,000 Ann Insurance: $3,423 Ann. Taxes: $37,676.20 Ann. Total Expenses: $44,069.20 Ann. Net Operating Income (NOI): $183,386.80 Ann. (10.79% Cap!!!)

FOR SALE DETAILS

PRICE

$1,699,000 USD

PRICE/SF

$421 USD /SF

CAP RATE

10.79%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1917

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R7B/C1-3

APN/PARCEL ID

01506-0007

ASK ABOUT THIS PROPERTY

Matthew ShaneAll Island CommercialMore Info
516-279-8828

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Matthew ShaneAll Island CommercialMore Info
516-279-8828

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.