8822 Roosevelt Ave - Storefront Retail/Office FOR SALE


Jackson Heights, NY 11372
$1,840,000 USD
718-640-4431
8822 Roosevelt Ave, Jackson Heights, NY for Sale
$1,840,000 USD
Storefront Retail/Office - FOR SALE
1/4
null | 2.72% Cap Rate

8822 Roosevelt Ave
Jackson Heights, NY 11372


HIGHLIGHTS

  • Next to 7 train with good street frontage, sign visibility, great foot and 12k+ car traffic per day!
  • Suitable for retail, medical, offices and community facilities which can be combined to diversify and hedge risk.

OVERVIEW

Prime location in the heart of Jackson Heights! Good street frontage, sign visibility with great foot and 12k+ car traffic per day. Commuter and walker paradise next to the 7 train, ethnic restaurants, cafes, shops, Dunkin Donuts, Bravo/Key Food supermarkets, other family owned groceries and pharmacies, medical facilities, Fidelis Care, Planet Fitness and Western Union. Near ModernMD Urgent Care, Mount Sinai Medical, Elmhurst hospital, Duane Reade pharmacy, McDonald's, UPS, Fedex, banks, Target, post office, police and fire stations. Ultimate convenience nestled between Brooklyn Queens expressway and Grand Central parkway with close access to multiple transit options from the 74th St & Roosevelt Ave. hub including the E, F, M, R subways, the Q23, Q29, Q32, Q33, Q49, Q53 and the free Q70 LaGuardia airport link express bus. Around 22 minutes non rush hour drive to LGA and around 15 mins to Manhattan by train! Three commercial units built in 1989 with a total of around 2,818 square feet suitable for retail, medical, offices and community space such as houses of worship, seminaries, schools, day or adult care, non profit which can be combined to diversify and hedge risk (please consult with an architect. Very busy beauty salon for many years of around 950 sq ft on the street side floor renting for $4,500+ utilities month to month. The cellar of around 918 sq ft is occuped by a medical office leasing below market $2,200+ utilities month to month. Second floor is around 950 sq ft. Current net income of around $50k+ yearly. (Conservative proforma with full occupancy: potential yearly rental income $126k+, yearly net income $93k+ @ 5% cap). Yearly property taxes of $25,406. Sold as is. Zoning C-2-3, R6. Lot size 1,093 sq ft. Please do not disturb tenants. For appointments, contact Diane Mi Chong at 718-640-4431. Real estate agent at Hanmi Realty.

FOR SALE DETAILS

PRICE

$1,840,000 USD

PRICE/SF

$653 USD /SF

CAP RATE

2.72%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Fast Food, Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,093 SF

ZONING

C2-3, R6

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Diane ChongHanmi Realty IncMore Info
718-640-4431

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Diane ChongHanmi Realty IncMore Info
718-640-4431

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