1027 Beach 20th Street, Far Rockaway, NY 11691

Property Description

Calling All Investors, Developers & End-Users!!! OPPORTUNITY ZONE 15,000 Sqft. 3 Unit Free Standing Building With Private Parking Lot For Sale!!! The Property Features Great Exposure, Excellent Signage, R6/C2-4/DFR Zoning, 12 Parking Spaces In A Private Gated Lot, High 20’ Ceilings, Strategically Placed Curb Cut, Separate Meters, 200 Amp Power, CAC, +++!!! The Property Is Located In The Heart Of Far Rockaway Minutes From The Rockaway Fwy. In Between Beach Channel Dr. & Seagirt Blvd.2100212!!! Neighbors Include Walmart, Chase Bank, CitiBank, Wyndham Hotels, BP Gas, U-Haul, CVS, T-Mobile, Boost Mobile, Dunkin’, McDonald’s, Key Food, Papa John’s, Domino’s, Popeye’s, Dollar General, Golden Krust, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Community Center (37,50 Sqft.): $147,600 Ann.; 3% Ann. Inc; Lease Exp.: 2027 + (1) 5 Year Option. 2nd Floor (3,750 Sqft.): $112,500 Ann. (Available) 3rd Floor (3,750 Sqft.): $127,500 Ann.(Available) LL (3,750 Sqft.): $68,200 Ann. (Available) Pro Forma Gross Income: $455,800 Ann. Expenses: Gas: $0 Ann. Electric: $0 Ann. Maintenance & Repairs: $250 Ann. Water & Sewer: $0 Ann. Insurance: $3,823 Ann. Flood Insurance: $3,000 Ann. Taxes: $23,265.32 Ann. Total Expenses: $30,338.32 Ann. Net Operating Income (NOI): $425,461.68 Ann. (Pro Forma 21.82% Cap!!!) R