Mixed-use building in Queens, New York, USA

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Mixed-use building in Queens, New York, USA

$2,800,000
$589 /m²
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  • Total area
    4,750 m²
  • Yield
    5.8%
  • Rental rate (m²/month)
    $3.2
Details
Property parameters
  • Leasable area: 4,750 m²
  • 3-floor building
Financial performance
  • Annual income: $154,016
Tenants
  • End of lease: 2019

A three-floor mixed-use building in Queens comprised of retail, office and residential premises.

Description

The area of the building is 4750 square feet.

The length of the street facade is 25 feet (7.6 m).

Financial performance

The cost of the property is 2,800,000 $.

The absolute annual income is 162,400 $.

The current yield of 5,8%.

Tenants

Boutique located on the ground level has a lease agreement expiring in September 2019.

Location and nearby infrastructure

The property is located in Astoria district, in Queens (Long Island). Queens is the largest on the territory (280 km²) and the 2nd on the population (about 2.4 million) borough in New York.

Neighbors include popular retailers like McDonalds, Starbucks Coffee, Victoria's Secret, Bank of America and more.

The district is traditionally considered one of the ”suburban“. There are several business districts in borough, such as Long Island City on the coastline of Queens opposite Manhattan. Here are the offices of Sino-American and Korean-American firms. Several large companies have their offices in Queens: the watch corporation Bulova, the corporation for the production of musical instruments ”Steinway & Sons“, JetBlue Airways — the airline, based at the Kennedy International Airport.

Transport accessibility:

  • La Guardia Airport — 5 minutes by taxi (without traffic jams)
  • John F. Kennedy Airport — 16 minutes by taxi (without traffic jams)
  • Wall Street/ Financial District — 25 minutes by taxi (without traffic jams)
  • Times Square — 22 minutes by taxi (without traffic jams)

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