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42-25 Queens Blvd - Setup

42-25 Queens Blvd - Setup

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Published by sunnysidepost
Dime Bank, Center Cinemas, PJ Horgan
Dime Bank, Center Cinemas, PJ Horgan

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Categories:Topics, Art & Design
Published by: sunnysidepost on Sep 20, 2012
Copyright:Attribution Non-commercial

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09/20/2012

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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do notguarantee it.All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any.The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, thetax bracket, and other factors which your tax advisor and/or legal counselshould evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
118-35 Queens Blvd.14
th
Floor Forest Hills, NY 11375 718.275.3400 Fax 718.275.5478www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER 
Property Description:
The subject is a 16,200 square foot property with three retail tenants along QueensBoulevard and a dentist's office on 43rd Street. The property islocated on the north side of QueensBoulevard and directly in between the 40th Street and 46th Street subway stops on the 7 train. With a zoningdesignation of C1-4/R7A, the property also has an F.A.R. of 4.0 and an additional 52,224 square feet ofavailable air rights for residential development upstairs. The current tenancy includes a bar/restaurant, amovie theatre, a dentist’s office and a bank on the corner. The 3,500 square feet occupied by the bank will bedelivered vacant. The current income not including projections for the vacant corner averages approximately$20 per square foot, or more than 50% below the average retail rates of $40-$50 per square foot, offeringsubstantial upside to an investor.
 
163 / 37Northwest corner of QueensBoulevard and 43
rd
Street.90’x 190’(Approx.)17,106 S.F. (Approx.)90’x 190’(Approx.)16,200 Plus Basement (Approx.)1C1-4/R7A4$131,753Block & Lot:Location:Lot Size:Lot S.F:Building Size:Building S.F.:Stories:Zoning:Commercial Units:*Taxes (12’/13’):*Tenants are responsible for a portion of the taxes.
42-25 Queens BoulevardSunnyside, NY 11104
Prime Retail Corner For Sale
SUBMIT OFFERS
For further information or inspection, please contact Exclusive Agents: 
Matt Nickerson
Associatemnickerson@masseyknakal.com212-696-2500 x7761
Evan J. Daniel
Director of Salesedaniel@masseyknakal.com718-275-3400 x2620
James P. Nelson
Partner jnelson@masseyknakal.com212-696-2500 x7710
 
PROJECTED REVENUE:
Gross Monthly Income:$40,283.22
Gross Annual Income:$483,398.60PROJECTED EXPENSES:
RE Taxes (12/13):$131,753.00Insurance (actual):$10,963.00Management (@ 3% of EGI):$14,501.96
Total Expenses:$157,217.96NET OPERATING INCOME:$326,180.64
Mitchell Levine
Director of Salesmlevine@masseyknakal.com212-696-2500 x7761

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