Active

6902/6890 Austin Street

Flushing NY, 11375

$18,500,000


Active

Commercial

Built in 1949

Calling All Investors, Developers & End-Users!!! 14.77 Cap 36 Unit 20,250 Sqft. Office Building With National Tenant For Sale!!! The Building Features Excellent Signage, Great Exposure, Strong R5D Zoning, 3 Stories, 53 Parking Spaces, High Ceilings, All New LED Lighting, CAC +++!!! The Third Floor Is Set Up With Over 28 Rooms & 2 Separate Offices For All Areas Of The Medical Field!!! The Property Is Located In The Heart Of Forest Hills Just 2 Blocks From Queens Blvd.!!! Neighbors Include Chevrolet, TGI Friday's, The Home Depot, Costco, Stop & Shop, CVS, Walgreens, Dunkin', Bath & Body Works, Planet Fitness, The Vitamin Shoppe, Ann Taylor, Boston Market, McDonald's, Wendy's, T.J. Maxx, Regal Cinemas, Trader Joe's, Shake Shack, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or A Nice Addition To Your Investment Portfolio!!! This Building Can Also Be Bought With The Lot Next Door (68-84 Austin Street) For Only $21m!!! Income: Teeth Tamers: $140,383 Ann. Lease Exp.: 6/30/22. Supermarket: $67,980 Ann. Rey Pharmacy: $66,150 Ann. Lease Exp.: 2/14/25; 5 Year Option. Store : Lab Corp (2,000 Sqft.): $90,000 Ann. Lease Exp.: 9/30/26; (2) 5 Year Options. Progressive Urology: $48,000 Ann. + $3,000 Ann. (Utility Fees). Lease Exp.: 12/31/23. Third Floor 28 Offices (6,660 Sqft.): $652,680 Ann. (Available) Parking Lot (14,400 Sqft.): $720,000 Ann. (Available) Gross Income From Stores & Offices : $1,068,195 Ann. Additional Income: $29,578.58 Ann. Expenses: Gas: $6,002 Ann. Electric: $7,011 Ann. Maintenance & Repairs: $1,450 Ann. Insurance: $23,468.47 Ann. Water: $3,099 Ann. Taxes: $152,291 Ann. Total Expenses: $193,321.47 Ann. Net Operating Income (NOI): $1,624,450.11 Ann. (Proforma 14.77 Cap!!!)

3467273

MLS ID

March 27, 2023

Listed

November 10, 2023

Updated

Map

6902/6890 Austin Street
Flushing NY, 11375

Interior Features

Total Stories

3


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.49 acres

Other Property Details

Taxes

$186,636


Tax Frequency

Annually


Garage

No


Parking

No


Parking Total

58


View

No


County

Queens


Pool

No

Listing History

Date

Event

Price

7/27/2023

Price Change

$18,500,000

-12%

 

Courtesy of All Island Estates Realty Corp

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Seabelo Chabo John shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2023 OneKey MLS. All rights reserved.    

Data last updated 7:11 AM UTC, 11/10/2023

  

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