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18-02 Cross Bay BLVD #3 Broad Channel, NY 11693
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Key Details
Sold Price $950,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID KEYL3462336
Sold Date 12/04/24
HOA Y/N No
Originating Board onekey2
Rental Info No
Year Built 1966
Annual Tax Amount $1,635
Lot Dimensions 100x95
Property Sub-Type Mixed Use
Property Description
Calling All Investors, Developers & End-Users!!! 18.41 Cap Restaurant / Bar Mixed Use Building On 9,500 Sqft. Lot For Sale!!! The Property Features Great Exposure, Excellent Signage, 18 Parking Spaces, Strong R34 Zoning, Parking Lot, High 10' Ceilings, 4 Br. Apartment, Backyard, Deck, Garage, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Property Is Located In The Heart Of Broad Channel Minutes From The Cross Bay Bridge & Rockaway Beach!!! Neighbors Include Starbucks, Verizon, Chase Bank, Western Union, Stop & Shop, Dunkin', Mobil, Walgreens, YMCA, Key Food, Popeye's, +++!!! The Entire Building Can Be Delivered Vacant If Need Be. This Property Has HUGE Upside Potential!!! This Could Be Your Next Investment Property / Home For Your Business!!! Income: Restaurant / Bar: $96,000 Ann. (Available) 4 Br. Apartment: $48,000 Ann. M-M. Garage: $13,800 Ann. (Available) Yard: $21,600 Ann. (Available) Gross Income: $179,400 Ann. Expenses: Propane: $0 Ann. Electric: $0 Ann. Maintenance & Repairs: $250 Ann. Water: $0 Ann. Insurance: $2,600 Ann. Taxes: $1,635 Ann. Total Expenses: $4,485 Ann. Net Operating Income (NOI): $174,915 Ann. (Pro Forma 18.41 Cap!!!)
Location
State NY
County Queens
Interior
Fireplace No
Exterior
Total Parking Spaces 18
Private Pool No
Building
Story 2
Others
Special Listing Condition None
Read Less
Bought with All Island Estates Realty Corp