About 69-02 Austin Street
Calling All Investors, Developers & End-Users!!! 18.28 Cap 36 Unit 20,250 Sqft. Office Building With National Tenant For Sale!!! The Building Features Excellent Signage, Great Exposure, Strong R5D Zoning, 3 Stories, 53 Parking Spaces, High Ceilings, All New LED Lighting, CAC +++!!! The Third Floor Is Set Up With Over 28 Rooms & 2 Separate Offices For All Areas Of The Medical Field!!! The Property Is Located In The Heart Of Forest Hills Just 2 Blocks From Queens Blvd.!!! Neighbors Include Chevrolet, TGI Friday's, The Home Depot, Costco, Stop & Shop, CVS, Walgreens, Dunkin', Bath & Body Works, Planet Fitness, The Vitamin Shoppe, Ann Taylor, Boston Market, McDonald's, Wendy's, T.J. Maxx, Regal Cinemas, Trader Joe's, Shake Shack, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or A Nice Addition To Your Investment Portfolio!!! This Building Can Also Be Bought With The Lot Next Door (68-84 Austin Street) For Only $18.5m!!! Income: Teeth Tamers: $140,383 Ann. Lease Exp.: 6/30/22. Supermarket: $67,980 Ann. Rey Pharmacy: $66,150 Ann. Lease Exp.: 2/14/25; 5 Year Option. Store : Lab Corp (2,000 Sqft.): $90,000 Ann. Lease Exp.: 9/30/26; (2) 5 Year Options. Progressive Urology: $48,000 Ann. + $3,000 Ann. (Utility Fees). Lease Exp.: 12/31/23. Third Floor 28 Offices (6,660 Sqft.): $652,680 Ann. (Available) Parking Lot (14,400 Sqft.): $720,000 Ann. (Available) Gross Income From Stores & Offices : $1,068,195 Ann. Additional Income: $29,578.58 Ann. Expenses: Gas: $6,002 Ann. Electric: $7,011 Ann. Maintenance & Repairs: $1,450 Ann. Insurance: $23,468.47 Ann. Water: $3,099 Ann. Taxes: $152,291 Ann. Total Expenses: $193,321.47 Ann. Net Operating Income (NOI): $1,624,450.11 Ann. (Proforma 18.28 Cap!!!)
