SPRINGFIELD BOULEVARD

Transcription

1 SPRINGFIELD BOULEVARD LAURELTON (JAMAICA), QUEENS MEDICAL OFFICE BUILDING WITH OWNER/USER POTENTIAL AND DEVELOPMENT RIGHTS TEAMPREUSS

2 MEDICAL OFFICE BUILDING WITH POTENTIAL FOR OWNER/USER & DEVELOPMENT RIGHTS LAURELTON, QUEENS NY HIGH TRAFFICE LOCATION ON-SITE PARKING ASKING PRICE $7,500,0000 PROPERTY DESCRIPTION Cushman & Wakefiel has been retaine on an exclusive basis for the sale of a Springfiel Boulevar in Laurelton (Jamaica), Queens Springfiel Boulevar is a partially-vacant meical office builing with on-site parking. It is an ieal opportunity for an investor or an owner/user looking to occupy space within the builing. Currently the first floor is lease to Renal Dialysis through 2022, an the secon floor is vacant. The first floor is approximately 9,200 square feet an the secon floor is approximately 11,000 square feet. Aitionally the property offers 20 parking spaces, of which two are esignate hanicappe parking. The builing also features one elevator an is fully-sprinklere. The lot also benefits from an aitional 29,449 square feet of as of right air rights for commercial or resiential evelopment. The property also features a secon curb cut on the south sie of the lot which coul allow for aitional parking or rive-thru space. The property is locate just south of the Merrick Boulevar / Springfiel Boulevar intersection which sees over 46,000 cars passing aily. Surrouning the property is number of creit retail tenants incluing The Home Deport, Municipal Creit Union, Bank of America, Stop & Shop, an Walgreens, among others. The LIRR is conveniently locate within one-mile at the Laurelton station. The Belt Parkway is also in proximity to the property allowing convenient access to the Southern State an Cross Islan Parkways PROPERTY HIGHLIGHTS BLOCK / LOT / 39 LOT DIMENSIONS 126 X 200 Irregular, approx. LOT SQUARE FOOTAGE 24,824 sq. ft., approx. BUILDING DIMENSIONS 100 X 185 Irregular, approx. BUILDING SQUARE FOOTAGE 20,200 sq. ft., approx. STORIES 2 COMMERCIAL UNITS 2 PARKING SPACES 20 (2 hanicap) ELEVATOR 1 ZONING R5D / C2-3 FAR (AS OF RIGHT) 2.0 BUILDABLE SQ. FT. (AS OF RIGHT) 49,649 sq. ft., approx. AVAILABLE AIR RIGHTS 29,449 REAL ESTATE TAXES (18/19) $138,277 Site inspections are by appointment only, please inquire within.

3 ASKING PRICE $7,500,000 FINANCIAL SUMMARY RENT ROLL Unit Tenant Share Lease Start Lease En Gross Sq. Ft. Net Sq. Ft. Price Per Sq. Ft. Monthly Rent Annual Rent CAM Contribution First Floor - Renal Dialysis 45.4% 08/01/ /31/2022 9,200 8,280 $24.60 $18,860 $226,320 $88,961 Secon Floor - Vacant 54.46% N/A N/A 11,000 9,900 $35.00 $32,083 $385,000 $35,584 Total 20,200 18,180 $50,943 $611,320 $124,545 projecte ue to vacancy EXPENSES GROSS INCOME $611,320 LESS: VACANCY & CREDIT 5% ($30,566) PLUS: PROJECTED CAM RECOVERY $125,545 EFFECTIVE GROSS INCOME (EGI) $706,299 Per Ownership Real Estate Taxes (2018) $138,277 Insurance $8,856 Utilities $2,205 Repairs & Maintenance $21,861 General & Amin Expenses $10,000 Management $20,972 Total $202,171 EFFECTIVE GROSS INCOME $706,299 GROSS EXPENSES $202,171 NET OPERATING INCOME $504,128

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5 ASKING PRICE $7,500,000 PROPERTY PHOTOS LONG ISLAND RAILROAD

6 FOR FURTHER INFORMATION, PLEASE CONTACT EXCLUSIVE AGENTS: STEPHEN R. PREUSS Senior Managing Director (718) KEVIN SCHMITZ Associate Director (718) DENISE PREVETE Director (718) KEVIN LOUIE Associate Director (718) ANDREAS EFTHYMIOU Associate Director (718) LAURELTON, QUEENS ASKING PRICE $7,500,000 TEAMPREUSS QUEENS BOULEVARD, 14TH FLOOR, FOREST HILLS, NY Cushman & Wakefiel Copyright No warranty or representation, express or implie, is mae to the accuracy or completeness of the information containe herein, an same is submitte subject to errors, omissions, change of price, rental or other conitions, withrawal without notice, an to any special listing conitions impose by the property owner(s). As applicable, we make no representation as to the conition of the property (or properties) in question.