Mixed Use Investment Opportunity NNN 5.66% Cap

Queens, NY (Queens County)

Mixed Use Investment Opportunity NNN 5.66% Cap
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Asking Price: $2,500,000

Gross Revenue: N/A

Price/Sq. Ft.: N/A

NOI: $141,600

Building SF: 2,000

FF&E: N/A

Year Built: N/A

Mixed Use Investment Opportunity NNN 5.66% Cap

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Property Description

Great Investment Opportunity! Mixed-use property across the street from Flushing Hospital. 5.66% Cap rate! Restaurant on the first floor and two studio apartments on the second floor. 2000 sq. ft plus 1000 sq. ft basement with separate entrance for deliveries. Building is newly renovated.
Restaurant tenant has 10 year lease NNN with two 5 year options ( 20 year lease total) , 3% annual rent increase. Strong tenants, chain restaurant.
2019-2020 rent $5,800
2020-2021 rent $5,974
2021-2022 rent $6,153
2022-2023 rent $6,337
2023-2024 rent $6,527
2025-2026 rent $6,722
2026-2027 rent $6,923
2027-2028 rent $7,130
2028-2029 rent $7,343
Apartments on the second floor are being rented as Vacation Rentals. $3,000 - $5000 per month income.

Detailed Information

Location:
Queens, NY
Type:
Other Business Real Estate
Building SF:
2,000
Building Status:
Established
Facilities:
Great Investment Opportunity! Mixed-use property across the street from Flushing Hospital. 5.66% Cap rate! Restaurant on the first floor and two studio apartments on the second floor. 2000 sq. ft plus 1000 sq. ft basement with separate entrance for deliveries. Building is newly renovated. Restaurant tenant has 10 year lease NNN with two 5 year options ( 20 year lease total) , 3% annual rent increase. Strong tenants, chain restaurant.
Location Description:
Across the street from Flushing Hospital, high traffic area with many new developments.
Current and Prior Use:
Mixed use
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Derrick White

Property Listed By:
Derrick White

Keystone Realty

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