Property Listing No Longer Available for Sale

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
UpdatedSeptember 16th, 2020
TypeMulti-Use
Price$2,750,000
Building2,432 Sq. Ft.
Land0.04 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.


Financials



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