98-18 Rockaway Beach Blvd Far Rockaway, NY 11694

$3,750,000

MIXED-USE BUILDING FOR SALE

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Property Highlights

  • Cash-Flowing Mixed-Use Building with upside
  • Steps from the entrance to the train at Beach 98th Street
  • Walking distance to the Rockaway NYC Ferry Stop
  • One block from the Boardwalk Concessions at Beach 98th Street
  • Over 3,000 SF of vacant commercial space
  • Recently renovated and well maintained
  • Major capital improvements include: roof, electrical service, boiler, hot water heaters, gas, facade work & structural work

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Property Facts

  • Address 98-18 Rockaway Beach Blvd, Far Rockaway, NY 11694
  • Block Lot 16154_101
  • Location Rockaway Beach
  • Lot Dimensions 50.26' x 120.63'
  • Lot Size 6,063 SF
  • Building Class C7
  • Building Dimensions 50.26' x 120.63'
  • Building Size 13,099 SF
  • Commercial SF 6,063 SF
  • Residential SF 4,036 SF
  • Floors 3
  • Zoning R4-1, C1-3
  • FAR 0.9
  • * Approximate

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Financials

  • REVENUE
  • Annual Rental Income $320,592
  • Commercial Income $165,216
  • Residential Income $135,600
  • Miscellaneous Income $19,766
  • Effective Gross Income (EGI) $310,974
  • EXPENSES
  • Real Estate Taxes $57,499
  • Insurance $13,000
  • Water/Sewer $4,800
  • Heat/Hot Water $10,000
  • Electric $500
  • Repairs/Maintenance $5,500
  • Utilities $500
  • Management Fees $5,500
  • Vacancy & Collection $9,618
  • Total Expenses $96,799
  • SUMMARY
  • Effective Gross Income (EGI) $310,974
  • Expenses $96,799
  • Net Operating Income (NOI) $214,175

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