69-12 Roosevelt Ave, Woodside, NY
Multi-Use for Sale - $2,750,000 - 2,432 Sq. Ft. on 0.04 acres
Property Info
CIMLS# | 1060699 |
Location 69-12 Roosevelt Ave Woodside NY 11377 | |
Updated | September 16th, 2020 |
Type | Multi-Use |
Price | $2,750,000 |
Building | 2,432 Sq. Ft. |
Land | 0.04 acres |
Property Description
B Square Realty is pleased to introduce this mixed-use building on Roosevelt Ave located in the heart of Woodside, just off the 7 train station and close to the LIRR and E,F,M,R subway station. The 2,432 SF building is situated on a 1,645 SF lot. The building features 1 retail space on the ground floor and 2 apartments on the second floor. The first floor retail space is currently net leased to Kabayan restaurant until 2027 and includes a 5 year option to renew. Tenants are responsible for their own utilities and payment of 60% of the real estate taxes. The rentals increase by 4% annually. The two apartments were recently renovated along with a new boiler and roof. The rental income for the apartments are totaling $3,900 per month. And net operating income for 2020 is approximately $137,702. Due to the continuous rapid development of the neighborhood, Woodside has seen some of the highest rental increases and property values in the past few years. It has also experienced a large rental demand due to its diverse dining options, culture, and easy commute to Manhattan. These ideal factors make it a perfect investment for any buyer looking to expand their portfolio.