Description
Calling All Investors, Developers & End-Users!!! 12 Unit 8, 500 Sqft. Shopping Center For Sale On Prestigious Northern Blvd.!!! The Property Is Located In The Heart Of Downtown Flushing!!! The Building Features Excellent Signage, Great Exposure, Strong R6A/C2-2 Zoning, 2 Stories, 18 Parking Spaces, High 12’ Ceilings, All New LED Lighting, Elevator, 3 Phase Power, CAC+++!!! Neighbors Include UPS, Nike, Cathay Bank, East West Bank, Sheraton Hotels, Stop & Shop, Macy’s, Life Storage, Dunkin’, AutoZone, 7-Eleven, Mobil, Shell, IHOP, Taco Bell, McDonald’s, Domino’s, Wendy’s, KFC, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or Home For Your Business!!! Income: LL: Acupuncture (2 Stores 1, 200 Sqft.): $43, 200 Ann. Lease Exp.: 4/1/28. Auto Sales (550 Sqft.): $31, 200 Ann. 3% Annual Increase. Lease Exp.: 2/1/26 + 3 Year Option. Veterinarian (500 Sqft.): $32, 400 Ann. 3% Annual Increase. Lease Exp.: 6/1/27. 1st Floor: Store (600 Sqft.): $188, 000 Ann. (Available) Terrace (1, 400 Sqft.): $55, 200 Ann. (Available) Cinderella Hair Salon (2 Stores 800 Sqft.): $76, 800 Ann. 3% Annual Increase. Lease Exp.: 3/1/31. They Pay Their Own Water (Separate Meter). 2nd Floor: Dentist: (2 Stores 900 Sqft.) $56, 400 Ann. 3% Annual Increase. Lease Exp. 2/1/28 + 5 year option. Been Here 15 Years So Far. 12 Parking Spaces: $25, 200 Ann. $1, 200 Increase Every 3 Years. Clothing Store Simply B: (450 Sqft.) $34, 800 Ann. M-M. Been Here 15+ Years So Far. Skin Care: (400 Sqft.) $44, 400 Ann. 3% Annual Increase Every 2 Years. Lease Exp.: 12/1/27 + 5 Year Option. Expenses: Gas: $2, 000 Ann. Electric: $2, 000 Ann. Water: $2, 500 Ann. Trash: $3, 180 Ann. Elevator: $5, 200 Ann. Insurance: $7, 200 Ann. Taxes: $90, 879.60 Ann. Total Income: $428, 000 Ann. Total Expenses: $112, 959.60 Ann. Pro Forma Net Operating Income (NOI) :$315, 040.40 Ann.