Asking Price $13000000 - Agorafy
60K+ SF Commercial Building For Sale 100-02 Rockaway Boulevard, Ozone Park NY 11417 Property Description The subject property is a two story, elevatored commercial building located on an entire block front on the south side of Rockaway Boulevard Ozone Park, Queens. The building features approximately 61,000 SF of retail, warehouse and office space with ceiling heights of approx. 12-14 feet on the first and second floors. The lower level contains approx. 14,000 square feet of finished space of which 11,500 is rentable. It features 8 ½ foot ceilings and access from the freight elevator. The property feature on-site parking in the rear of the building, and the owner currently has plans to install a second elevator with access to all floors. Currently 6,000 SF of space on the 1st floor is leased to Gothic Furniture through March of 2023. Gothic Furniture’s lease also features a buyout option which can be exercised if desired. One unit on the second floor is leased to a party hall on a month-month basis, as well as one unit on the lower-level to a bakery on a month-month basis. The building is located on a heavily trafficked thoroughfare and is easily accessible from the A subway line, the Belt Parkway and the Van Wyck Expressway. It is about 500 feet from the Woodhaven Blvd, Cross Bay Blvd, Rockaway Blvd, and Liberty Ave intersection. It is ideal for retail conversion, storage facility, an investor or an owner/user. The neighborhood has tremendous upside, primarily due to the newly constructed Resorts World Casino which is already attracting huge crowds of visitors since opening its doors at the end of October 2011.
Property Information
Asking Price $13,000,000 205 Montague Street, 3rd Floor Please Contact Exclusive Agents: Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091 Stephen R. Preuss Brian J. Sarath
Vice President of Sales
Direct: 718-512-2118 [email protected]
Director of Sales
Direct: 718-512-2616 [email protected]
Block / Lot:
9539 / 01
Lot Size:
232’ x 328’
Approx.
Lot SF:
38,470
Approx.
Building Size:
218’ x 65’
Irregular
Building SF:
First Floor
23,500
Second Floor
23,000
Lower Level
14,000
Building Information
275 Madison Avenue, 3rd Floor New York, NY 10016 Building Class: T: 212-696-2500 / F: 212-696-0333
Total
F4
Zoning:
M1-1
Assessment:
$995,673
R.E. Taxes:
$106,378
th 118-35 Queens 60,500 Boulevard, 14 Floor Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
118-35 Queens Blvd. • 14th Floor • Forest Hills, NY 11375 • 718.275.3400 • Fax 718.275.5478 www.masseyknakal.com THE BRONX BROOKLYN MANHATTAN LONG ISLAND NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
60K+ SF Commercial Building For Sale 100-02 Rockaway Boulevard, Ozone Park NY 11417 Revenue (Actual & Projected) Tenant
Expenses (Estimated)
Size (SF)
Lease Expiration
$ / SF
Base Rent
Annual Rent
Gothic Furniture
6,000
3/31/23
$30.75
$15,375
$184,500
Vacant
17,500
N/A
$30
$43,750
$525,000
Party Hall
3,000
M-M
$17.25
$4,460
$53,520
Vacant
20,000
N/A
$20
$33,333
$400,000
Bakery
1,500
M-M
$16
$2,100
$25,200
Vacant
10,000
N/A
$12
$10,000
$120,000
$109,018
$1,308,220
1st Floor
2nd Floor
Lower level
Total Projected due to Vacancy
Real Estate Taxes (14/15)
$106,378
Elevator Maintenance
$3,698
Electric
$2,061
Gas
$13,734
Water
$2,431
Property Insurance
$17,091
$0.25 / SF
$15,125
Management
3% / EGI
$39,246
Vacancy & Credit Loss
5% / EGI
$65,411
Repairs & Maintenance
Total
$265,175
Net Operating Income
$1,043,045
Asking Price $13,000,000 205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
275 Madison Avenue, 3rd Floor New York, NY 10016 T: 212-696-2500 / F: 212-696-0333
118-35 Queens Boulevard, 14th Floor Please Contact Exclusive Agents: Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478 Stephen R. Preuss Brian J. Sarath
Vice President of Sales
Direct: 718-512-2118 [email protected]
Director of Sales
Direct: 718-512-2616 [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
118-35 Queens Blvd. • 14th Floor • Forest Hills, NY 11375 • 718.275.3400 • Fax 718.275.5478 www.masseyknakal.com THE BRONX BROOKLYN MANHATTAN LONG ISLAND NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
Property Information
Asking Price $13,000,000 205 Montague Street, 3rd Floor Please Contact Exclusive Agents: Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091 Stephen R. Preuss Brian J. Sarath
Vice President of Sales
Direct: 718-512-2118 [email protected]
Director of Sales
Direct: 718-512-2616 [email protected]
Block / Lot:
9539 / 01
Lot Size:
232’ x 328’
Approx.
Lot SF:
38,470
Approx.
Building Size:
218’ x 65’
Irregular
Building SF:
First Floor
23,500
Second Floor
23,000
Lower Level
14,000
Building Information
275 Madison Avenue, 3rd Floor New York, NY 10016 Building Class: T: 212-696-2500 / F: 212-696-0333
Total
F4
Zoning:
M1-1
Assessment:
$995,673
R.E. Taxes:
$106,378
th 118-35 Queens 60,500 Boulevard, 14 Floor Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
118-35 Queens Blvd. • 14th Floor • Forest Hills, NY 11375 • 718.275.3400 • Fax 718.275.5478 www.masseyknakal.com THE BRONX BROOKLYN MANHATTAN LONG ISLAND NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
60K+ SF Commercial Building For Sale 100-02 Rockaway Boulevard, Ozone Park NY 11417 Revenue (Actual & Projected) Tenant
Expenses (Estimated)
Size (SF)
Lease Expiration
$ / SF
Base Rent
Annual Rent
Gothic Furniture
6,000
3/31/23
$30.75
$15,375
$184,500
Vacant
17,500
N/A
$30
$43,750
$525,000
Party Hall
3,000
M-M
$17.25
$4,460
$53,520
Vacant
20,000
N/A
$20
$33,333
$400,000
Bakery
1,500
M-M
$16
$2,100
$25,200
Vacant
10,000
N/A
$12
$10,000
$120,000
$109,018
$1,308,220
1st Floor
2nd Floor
Lower level
Total Projected due to Vacancy
Real Estate Taxes (14/15)
$106,378
Elevator Maintenance
$3,698
Electric
$2,061
Gas
$13,734
Water
$2,431
Property Insurance
$17,091
$0.25 / SF
$15,125
Management
3% / EGI
$39,246
Vacancy & Credit Loss
5% / EGI
$65,411
Repairs & Maintenance
Total
$265,175
Net Operating Income
$1,043,045
Asking Price $13,000,000 205 Montague Street, 3rd Floor Brooklyn, NY 11201 T: 718-238-8999 / F: 718-238-6091
275 Madison Avenue, 3rd Floor New York, NY 10016 T: 212-696-2500 / F: 212-696-0333
118-35 Queens Boulevard, 14th Floor Please Contact Exclusive Agents: Forest Hills, NY 11375 T: 718-275-3400 / F: 718-275-5478 Stephen R. Preuss Brian J. Sarath
Vice President of Sales
Direct: 718-512-2118 [email protected]
Director of Sales
Direct: 718-512-2616 [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
118-35 Queens Blvd. • 14th Floor • Forest Hills, NY 11375 • 718.275.3400 • Fax 718.275.5478 www.masseyknakal.com THE BRONX BROOKLYN MANHATTAN LONG ISLAND NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
