1027 Beach 20th Street
Far Rockaway, NY 11691Calling All Investors, Developers & End-Users!!! OPPORTUNITY ZONE 15,000 Sqft. 3 Unit Free Standing Building With Private Parking Lot For Sale!!! The Property Features Great Exposure, Excellent Signage, R6/C2-4 Zoning, 12 Parking Spaces In A Private Gated Lot, High 20â Ceilings, Strategically Placed Curb Cut, Separate Meters, 200 Amp Power, 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, Dunkinâ, McDonaldâs, Key Food, Papa Johnâs, Dominoâs, Popeyeâs, Dollar General, Golden Krust, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Community Center (37,50 Sqft.): $147,600 Ann.; 3% Ann. Inc; Lease Exp.: 2027 + (1) 5 Year Option.
2nd Floor (3,750 Sqft.): $112,500 Ann. (Available)
3rd Floor (3,750 Sqft.): $127,500 Ann.(Available)
LL (3,750 Sqft.): $68,200 Ann. (Available)
Pro Forma Gross Income: $455,800 Ann.
Expenses:
Gas: $0 Ann.
Electric: $0 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $0 Ann.
Insurance: $3,823 Ann.
Flood Insurance: $3,000 Ann.
Taxes: $23,265.32 Ann.
Total Expenses: $30,338.32 Ann.
Net Operating Income (NOI): $425,461.68 Ann. (Pro Forma 19.34% Cap!!!)
Listing provided courtesy of: All Island Estates Realty Corp
- Price $2,200,000
- Land/Lot Size (Sq Ft) 8,002
- Property Type Commercial Sale
- Property Sub-type Business
- Floors / Stories 3
- Year Built 1931
- MLS Number 850258
- Annual Taxes (USD) $23,265
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