All Island Commercial is pleased to present 91-08 Sutter Avenue to the market, ideal for investors, developers, and retail end-users. This is a Free-Market mixed-use building with private, gated parking in Ozone Park. The property features great signage and exposure, two lots, smart meters, a courtyard, and a four-bedroom apartment with a terrace. The property is zoned R4-1.
The four-bedroom, Free-Market apartment has high nine-foot ceilings, a basement, two fireplaces, and a CCTY/ Security System. The overall property has low property taxes, six parking spaces within the private, gated lot, separate meters, all new LED lighting, CAC, and more.
The property is in the heart of Ozone Park, just two blocks from Cross Bay Boulevard and minutes from JFK Airport. The building was renovated in 2020 and 2022 and has 19 feet of frontage on Sutter Avenue and 24 feet of frontage on Chicot Road. Neighbors include Starbucks, UPS, Nissan, The Home Depot, Stop & Shop, LA Fitness, Safeguard Self Storage, Marshalls, Raymour & Flanigan, Karako Suits, Mattress Firm, Dollar Tree, IHOP, and more.
This property offers huge upside potential and could be your next development site or the next home for your business.
Income:
Regency Grand Ballroom: $60,000 Ann. M-M.
2nd Floor Apt. (4 Br., 1.5 Bath, 1720 SF): $42,000 Ann.; M-M.
LL: $18,000 Ann. (Available)
Parking: $8,600 Ann.
Pro Forma Gross Income: $128,600 Ann.
Expenses:
Gas: $2,400 Ann.
Electric: $2,100 Ann. (1st Floor & Basement Only)
Maintenance & Repairs: $250 Ann.
Water & Sewer: $840 Ann
Insurance: $2,200 Ann.
Taxes: $5,997 Ann.
Total Expenses: $13,787 Ann.
Net Operating Income (NOI): $114,813 Ann. (Pro Forma 9.98 Cap)