- Size: 302 m²
- Price: $13,800,000
Calling All Investors, Developers & End Users!!! Brand New 100% Occupied Mini Mall in Forest Hills For Sale!!! The Property is Located in the Heart of Forest Hills on 71st Avenue, Off Queens Blvd. Minutes to Forest Hills Stadium & Queens Center!!!
The Property is Situated on a 604 m² Lot Minutes to Grand Central Pkwy., Van Wyck Expy. & Jackie Robinson Pkwy.!!! The Building Features Excellent Signage, Great Exposure, Long Term Leases, C4-5X/R7X Zoning, 8 Ft. Ceilings, 3 Stories, 2 Lots, 3 Phase Power, All New LED Lighting, CAC, +++!!!
Neighbors Include Starbucks, Chevrolet, Costco, The Home Depot, P.C. Richard & Son, Best Buy, Target, Planet Fitness, Shake Shack, The Vitamin Shoppe, Trader Joe's, Regal Cinemas, Walgreens, Dunkin', Jersey Mike's Subs, Chick-fil-A, Wendy's, +++!!! The Property Has 50 Ft. of Frontage on 71st Avenue!!!
This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site or The Next Home For Your Business!!!
Income:
Pizzeria (Front):
$168,000 Annual; 3% Annual Escalation; Lease Exp: 2032.
Pizzeria Restaurant (Rear):
$180,000 Annual; 3% Annual Escalation; Lease Exp: 2032.
Azad Coffee:
$44,000 Annual; 3% Annual Escalation; Lease Exp: 01/01/2030.
Royal Beauty Spa:
$180,000 Annual; 3% Annual Escalation; Lease Exp: 01/02/2031.
Expenses:
Electricity:
$0 Annual
Water & Sewer:
$0 Annual
Insurance:
$6,825 Annual
Maintenance & Repairs:
$250 Annual
Taxes:
$171,378 Annual
Gross Revenue:
$672,000 Annual
Total Expenses:
$178,453 Annual
Net Operating Income (NOI):
$493,547 Annual
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