621-627 Beach 20th Street , Far Rockaway, NY 11691
Far Rockaway, NY 11691
Description
Calling All Investors, Developers & End-Users!!! MAJOR 42,522 Sqft. Queens Development Site For Sale Featuring Pro Forma 9.95 Cap 11 Unit Mixed-Use Building With HUGE Yard For Sale!!! The Property Features Great Exposure, Excellent Signage, Strong R5/C1-2 Zoning, 138 Parking Spaces, High 10' Ceilings, 4 Lots, 8 Apartments, 3 Commerical Spaces, HUGE Yard, 2 Strategically Placed Curb Cuts, Separate Meters, CAC, +++!!! The Property Is Located In The Heart Of Far Rockaway Minutes From The Rockaway Fwy. In Between Beach Channel Dr. & Seagirt Blvd. !!! Neighbors Include Walmart, Chase Bank, CitiBank, Wyndham Hotels, BP Gas, U-Haul, CVS, T-Mobile, Boost Mobile, Dunkin', McDonald's, Key Food, Papa John's, Domino's, Popeye's, Dollar General, Golden Krust, +++!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Furniture Store (3,648 Sqft.): $92,620 Ann. M-M. Smoke Shop: $31,200 Ann. M-M. 6 Rooms: $18,960 Ann.; M-M. 7 Rooms: $19,200 Ann.; M-M. 7 Rooms: $13,120 Ann.; M-M. 6 Rooms: $17,640 Ann.; M-M. Parking For 6 Cars: $48,000 Ann.; M-M. Yard (38,000 Sqft.): $600,000 Ann. (Available) Pro Forma Gross Income: $840,740 Ann. Expenses: Gas: $0 Ann. Electric: $3,100 Ann. Maintenance & Repairs: $2,250 Ann. Water & Sewer: $5,800 Ann. Insurance: $6,000 Ann. Flood Insurance: $3,000 Ann. Taxes: $129,011.04 Ann. Total Expenses: $149,161.04 Ann. Net Operating Income (NOI): $691,578.96 Ann. (Pro Forma 9.95 Cap!!!)
Details
| MLS# | 3531678 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1931 |
| Days On Site | 239 |
| Listing Provided By | All Island Estates Realty Corp | Richard Matt Shane |
Features
| Story(s) | 3 |
|---|---|
| Units | 11 |
| Zoning | R5, C1-2 |
| Acreage | 0.98 |
Market Activity 11691
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Learn More About This Property
| State | NY |
|---|---|
| County | Queens |
| City | Far Rockaway |
| Zip Code | 11691 |
| Subarea | 13 |
| Listing VS Median (in 11691) | |
Price: $6,950,000 low | high Med: $599,000 On Site: 239 low | high Med: 141.000000 | |