198-26 jamaica avenue
198-26 JAMAICA AVENUE
Presented by First Class Management, Inc. A Full Service Commercial Real Estate & Management Company
INVESTMENT OPPORTUNITY [email protected] | www.fcmre.com | 212-222-7444
CONFIDENTIALITY DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from First Class Management, Inc. (“FCMRE”) and should not be made available to any other person or entity without the written consent of FCMRE. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. FCMRE has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, FCMRE has not verified, and will not verify, any of the information contained herein, nor has FCMRE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Presented by First Class Management, Inc. A Full Service Commercial Real Estate & Management Company
[email protected] | www.fcmre.com | 212-222-7444
INVESTMENT HIGHLIGHTS Address: 198-26 Jamaica Avenue, Queens, NY 11423 Block: 10829 Lots: 0055
High visibility asset on a busy intersection of 230th Street and Merrick boulevard 6,508 square foot Multi-Tenant Queens Retail Property 74 feet of Frontage on Merrick Boulevard Property was Completely Renovated in 2006 – New Façade All Tenants Have 3 percent annual Rental Increases The Property is Surrounded by Local and National Retailers Minimal Management NYC retail asset The subject offering is an 6,508 square foot multi-tenant retail property on the corner of 230th Street and Merrick Blvd, Laurelton(Queens), New York. The property is currently 100% leased. This asset was renovated in 2006. Many of the tenants have been in occupancy for over ten years. All leases have annual rent escalations of 3%. The property rests on a 7,222 Square Foot lot, and has over 73 feet of frontage on Merrick Blvd. Merrick Boulevard is the main retail thoroughfare in Springfield Gardens. This property is situated amongst various national retailers including Walgreen's, Duane Reade, Family Dollar, Chase and numerous other retailers. All of the tenants reimburse for Real Estate Taxes and pay their own utilities.
[email protected] | www.fcmre.com | 212-222-7444
OFFERING SUMMARY Listing Price Current CAP
$ 1,073,944.85 6.50%
GLA Building S.F.
Price Per S.F.
$
300.82
Percent Occupied Land S.F.
Scheduled Income
$
79,800.00
Recapture
$
2,293.59
Gross Operating Income
$
82,093.59
Less Expenses
$
12,287.17
Net Operating Income
$
69,806.42
Taxes
$
4,587.17
Insurance
$
4,000.00
Utitlities
$
1,200.00
Repairs
$
2,500.00
Total Expenses
$
12,287.17
Annualized Operating Data
Annualized Expenses
[email protected] | www.fcmre.com | 212-222-7444
3,570 3,570 50.42% 2,752
TENANT RENT ROLL
#
Tenant Name
1
Ground Floor - Vacant
2
Apt 2A - Jose Garcia
3
Apt 2B - Amita Ally
Start Date
End Date
S.F.
Annual Rent S.F.
Annual Rent
% of Total
1,800
$
26.89
$ 48,000.00
50.42%
10/15/2015
10/14/2017
1,250
$
17.00
$ 20,400.00
35.01%
10/1/2015
9/30/2016
520
$
22.80
$ 11,400.00
14.57%
Total
3,570
$
22.90
$ 79,800.00
100.00%
[email protected] | www.fcmre.com | 212-222-7444
AERIAL MAP
Presented by First Class Management, Inc. A Full Service Commercial Real Estate & Management Company
[email protected] | www.fcmre.com | 212-222-7444
MAP
[email protected] | www.fcmre.com | 212-222-7444
ADDITIONAL PICTURES
[email protected] | www.fcmre.com | 212-222-7444
ADDITIONAL PICTURES
[email protected] | www.fcmre.com | 212-222-7444
DEMOGRAPHICS
[email protected] | www.fcmre.com | 212-222-7444
CONTACT FOR MORE INFORMATION Igor Khasidov 212-222-7444 [email protected]
David Alayev 212-222-7444 [email protected]
[email protected] | www.fcmre.com | 212-222-7444
Presented by First Class Management, Inc. A Full Service Commercial Real Estate & Management Company
INVESTMENT OPPORTUNITY [email protected] | www.fcmre.com | 212-222-7444
CONFIDENTIALITY DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from First Class Management, Inc. (“FCMRE”) and should not be made available to any other person or entity without the written consent of FCMRE. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. FCMRE has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, FCMRE has not verified, and will not verify, any of the information contained herein, nor has FCMRE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Presented by First Class Management, Inc. A Full Service Commercial Real Estate & Management Company
[email protected] | www.fcmre.com | 212-222-7444
INVESTMENT HIGHLIGHTS Address: 198-26 Jamaica Avenue, Queens, NY 11423 Block: 10829 Lots: 0055
High visibility asset on a busy intersection of 230th Street and Merrick boulevard 6,508 square foot Multi-Tenant Queens Retail Property 74 feet of Frontage on Merrick Boulevard Property was Completely Renovated in 2006 – New Façade All Tenants Have 3 percent annual Rental Increases The Property is Surrounded by Local and National Retailers Minimal Management NYC retail asset The subject offering is an 6,508 square foot multi-tenant retail property on the corner of 230th Street and Merrick Blvd, Laurelton(Queens), New York. The property is currently 100% leased. This asset was renovated in 2006. Many of the tenants have been in occupancy for over ten years. All leases have annual rent escalations of 3%. The property rests on a 7,222 Square Foot lot, and has over 73 feet of frontage on Merrick Blvd. Merrick Boulevard is the main retail thoroughfare in Springfield Gardens. This property is situated amongst various national retailers including Walgreen's, Duane Reade, Family Dollar, Chase and numerous other retailers. All of the tenants reimburse for Real Estate Taxes and pay their own utilities.
[email protected] | www.fcmre.com | 212-222-7444
OFFERING SUMMARY Listing Price Current CAP
$ 1,073,944.85 6.50%
GLA Building S.F.
Price Per S.F.
$
300.82
Percent Occupied Land S.F.
Scheduled Income
$
79,800.00
Recapture
$
2,293.59
Gross Operating Income
$
82,093.59
Less Expenses
$
12,287.17
Net Operating Income
$
69,806.42
Taxes
$
4,587.17
Insurance
$
4,000.00
Utitlities
$
1,200.00
Repairs
$
2,500.00
Total Expenses
$
12,287.17
Annualized Operating Data
Annualized Expenses
[email protected] | www.fcmre.com | 212-222-7444
3,570 3,570 50.42% 2,752
TENANT RENT ROLL
#
Tenant Name
1
Ground Floor - Vacant
2
Apt 2A - Jose Garcia
3
Apt 2B - Amita Ally
Start Date
End Date
S.F.
Annual Rent S.F.
Annual Rent
% of Total
1,800
$
26.89
$ 48,000.00
50.42%
10/15/2015
10/14/2017
1,250
$
17.00
$ 20,400.00
35.01%
10/1/2015
9/30/2016
520
$
22.80
$ 11,400.00
14.57%
Total
3,570
$
22.90
$ 79,800.00
100.00%
[email protected] | www.fcmre.com | 212-222-7444
AERIAL MAP
Presented by First Class Management, Inc. A Full Service Commercial Real Estate & Management Company
[email protected] | www.fcmre.com | 212-222-7444
MAP
[email protected] | www.fcmre.com | 212-222-7444
ADDITIONAL PICTURES
[email protected] | www.fcmre.com | 212-222-7444
ADDITIONAL PICTURES
[email protected] | www.fcmre.com | 212-222-7444
DEMOGRAPHICS
[email protected] | www.fcmre.com | 212-222-7444
CONTACT FOR MORE INFORMATION Igor Khasidov 212-222-7444 [email protected]
David Alayev 212-222-7444 [email protected]
[email protected] | www.fcmre.com | 212-222-7444
