2547 Steinway St Long Island City, NY 11103

Calling All Investors, Developers & End-Users!!! 8.66 Cap 100% Occupied Free Market Mixed Use Building For Sale!!! The Property Features Great Exposure, Excellent Signage, 6 Parking Spaces, Strong C4-2A Zoning, High 10' Ceilings, 4 Apartments, Restaurant, Finished Basement, All New LED Lighting, Sky...light, Sprinklers, CAC, +++!!! The Property Is Located In The Heart Of Astoria Just A Block From The Grand Central Parkway!!! Neighbors Include UPS, FedEx, Dunkin', U-Haul, Public Storage, CubeSmart Self Storage, Exxon, CVS, Walgreens, Staples, McDonald's, T.J. Maxx, Panera Bread, Lidl, CityMD, 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, Development Site Or Home For Your Business!!! Income: Istanbul Restaurant + Finished LL: $49,900 Ann.; 3% Ann. Inc. Lease Exp.: 06/2030. 50% Of Taxes. Apt. 2F (2 Br. 1 Bath): $21,300 Ann.; M-M; Been Here 4+ Years. Pro Forma: $40,800 Ann. Apt. 2R (2 Br. 1 Bath): $17,400 Ann.; M-M; Been Here 25+ Years Pro Forma: $40,800 Ann. Apt. 3F (2 Br. 1 Bath): $22,200 Ann.; M-M; Been Here 15+ Years Pro Forma: $40,800 Ann. Apt. 3R (2 Br. 1 Bath): $18,600 Ann.; M-M; Been Here 15+ Years Pro Forma: $40,800 Ann. Lease Tax Rebate: $19,740 Ann. Gross Income: $149,140 Ann. Pro Forma Gross Income: $232,840 Ann. Expenses: Propane: $3,116 Ann. Electric: $922 Ann. Maintenance & Repairs: $250 Ann. Water: $3,322 Ann. Insurance: $3,838 Ann. Taxes: $39,469.52 Ann. Total Expenses: $50,917.52 Ann. Net Operating Income (NOI): $98,222.48 Ann. Pro Forma Net Operating Income (NOI): $181,922.48 (8.66 Cap!!!) Continue reading