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81-38 Baxter Ave
Flushing, NY 11373
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers, & End-Users!!! 8.86 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!!
- The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!!
- Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald’s, Chick-fil-A, Wendy’s, +++!!!
- The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8’ Ceilings, (5) 1 Br. Apartments, Basement, Large Rear Yard, +++!!!
- The Property Has 20’ Of Frontage On Baxter Avenue!!!
- This Property Offers HUGE Upside Potential!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers, & End-Users!!! 8.86 Cap 7 Unit 4,000+ Sqft. Mixed-Use Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R7B/C1-3 Zoning, High 8’ Ceilings, 2 Stores, (5) 1 Br. Apartments, Basement, 6 Parking Spaces, Separate Meters, Large Rear Yard, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Elmhurst 1 Block From Roosevelt Ave. & Just Minutes From Both I-278 & Queens Blvd.!!! The Property Has 20’ Of Frontage On Baxter Avenue!!! Neighbors Include Starbucks, Nissan, Mazda, TD Bank, Bolla Fuels, Shake Shack, PureGym, CVS, Dunkin, McDonald’s, Chick-fil-A, Wendy’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Jeweler: $54,000 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far.
Hair Salon: $42,000 Ann.; 3 Year Lease.
Apt. A (1 Br.): $24,000 Ann.
Apt. B (1 Br.): $24,000 Ann.
Apt. C (1 Br.): $24,000 Ann.
Apt. D (1 Br.): $24,000 Ann.
Apt. E (1 Br.): $24,000 Ann.
Tax Rebate (Paid By The Store): $18,500 Ann.
Gross Income: $234,500 Ann.
Expenses:
Gas: $0 Ann.
Electric: $720 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,000 Ann
Insurance: $3,423 Ann.
Taxes: $37,676.20 Ann.
Total Expenses: $44,069.20 Ann.
Net Operating Income (NOI): $190,430.80 Ann. (8.86 Cap!!!)
Income:
Jeweler: $54,000 Ann.; 2% Ann. Inc.; Lease Exp.: 12/1/28. Been Here 20+ Years So Far.
Hair Salon: $42,000 Ann.; 3 Year Lease.
Apt. A (1 Br.): $24,000 Ann.
Apt. B (1 Br.): $24,000 Ann.
Apt. C (1 Br.): $24,000 Ann.
Apt. D (1 Br.): $24,000 Ann.
Apt. E (1 Br.): $24,000 Ann.
Tax Rebate (Paid By The Store): $18,500 Ann.
Gross Income: $234,500 Ann.
Expenses:
Gas: $0 Ann.
Electric: $720 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,000 Ann
Insurance: $3,423 Ann.
Taxes: $37,676.20 Ann.
Total Expenses: $44,069.20 Ann.
Net Operating Income (NOI): $190,430.80 Ann. (8.86 Cap!!!)
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,032 SF
Building Class
C
Year Built
1917
Price
$2,974,267 CAD
Price Per SF
$737.67 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.85
Lot Size
0.05 AC
Zoning
R7B/C1-3
Parking
6 Spaces (1.49 Spaces per 1,000 SF Leased)
Frontage
20’ on Baxter Ave.
AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 01506-0007 | Improvements Assessment | $391,247 CAD |
| Land Assessment | $83,689 CAD | Total Assessment | $474,936 CAD |
PROPERTY TAXES
Parcel Number
01506-0007
Land Assessment
$83,689 CAD
Improvements Assessment
$391,247 CAD
Total Assessment
$474,936 CAD
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