8
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$9,500,000
Est. payment /mo
New
8817 Roosevelt AVE #4 Jackson Heights, NY 11372
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1066592
Rental Info No
Year Built 1928
Annual Tax Amount $102,229
Property Sub-Type Retail
Source onekey2
Property Description
PRIME JACKSON HEIGHTS – FOUR-BUILDING COMMERCIAL INVESTMENT PACKAGE!
Exceptional investment opportunity in the heart of Jackson Heights, Queens! Four commercial buildings offered together at 88-17 Roosevelt Avenue and 37-62/64/66 89th Street. Ideally situated along the busy Roosevelt Avenue commercial corridor, approximately two minutes from the 90th Street–Elmhurst Avenue 7 subway station.
The package offers approximately 10,164 SF of combined building area on 5,418 SF of land, featuring two-story commercial buildings with full finished basements. Zoning R6/C2-3.
Excellent income-producing investment! Annual base rental income of $496,452 with reported Net Operating Income (NOI) of $484,452, representing an approximately 5.10% cap rate at the asking price of $9,500,000.
Tenant-Paid Expenses: Tenants reimburse 100% of property taxes and are responsible for electricity, gas, water, and heating expenses. Low reported landlord operating expenses of approximately $12,000 annually.
Prime commercial location surrounded by established businesses, restaurants, shopping, and convenient public transportation. Excellent opportunity for investors seeking stable rental income and long-term investment potential in a thriving Queens commercial district.
ASKING PRICE: $9,500,000.
All information is subject to independent verification.
Exceptional investment opportunity in the heart of Jackson Heights, Queens! Four commercial buildings offered together at 88-17 Roosevelt Avenue and 37-62/64/66 89th Street. Ideally situated along the busy Roosevelt Avenue commercial corridor, approximately two minutes from the 90th Street–Elmhurst Avenue 7 subway station.
The package offers approximately 10,164 SF of combined building area on 5,418 SF of land, featuring two-story commercial buildings with full finished basements. Zoning R6/C2-3.
Excellent income-producing investment! Annual base rental income of $496,452 with reported Net Operating Income (NOI) of $484,452, representing an approximately 5.10% cap rate at the asking price of $9,500,000.
Tenant-Paid Expenses: Tenants reimburse 100% of property taxes and are responsible for electricity, gas, water, and heating expenses. Low reported landlord operating expenses of approximately $12,000 annually.
Prime commercial location surrounded by established businesses, restaurants, shopping, and convenient public transportation. Excellent opportunity for investors seeking stable rental income and long-term investment potential in a thriving Queens commercial district.
ASKING PRICE: $9,500,000.
All information is subject to independent verification.
Location
State NY
County Queens
Rooms
Basement Finished
Interior
Heating Natural Gas
Cooling Central Air
Fireplace No
Exterior
Utilities Available Electricity Connected, Natural Gas Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Queens24
School District Queens24
Others
Special Listing Condition None
Listed by Apple Realty Group Corp • Raymond C. Wong
NEARBY SCHOOL & BUSINESS