621 Beach 20th St
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621 Beach 20th St
16,360 SF 100% Leased Retail Building Far Rockaway, NY 11691 £5,063,192 (£309/SF) 10.72% Net Initial Yield
Investment Highlights
- Calling All Investors, Developers & End-Users!!! MAJOR 42,522 Sqft. Queens Development Site For Sale Featuring Proforma 9.5 Cap 11 Unit Mixed-Use Bldg
- The Property Is Located In The Heart Of Far Rockaway Minutes From The Rockaway Fwy. In Between Beach Channel Dr. & Seagirt Blvd. !!!
- This Property Offers HUGE Upside Potential!!!
- The Property Features Great Exposure, Excellent Signage, Strong R5/C1-2 Zoning, 138 Parking Spaces, High 10’ Ceilings, 4 Lots, 8 Apartments, +++!!!
- Neighbors Include Walmart, Chase Bank, CitiBank, Wyndham Hotels, BP Gas, U-Haul, CVS, T-Mobile, Boost Mobile, Dunkin’, McDonald’s, Key Food, +++!!!
- This Could Be Your Next Development Site / The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! MAJOR 42,522 Sqft. Queens Development Site For Sale Featuring Pro Forma 9.95 Cap 11 Unit Mixed-Use Building With HUGE Yard For Sale!!! The Property Features Great Exposure, Excellent Signage, Strong R5/C1-2 Zoning, 138 Parking Spaces, High 10’ Ceilings, 4 Lots, 8 Apartments, 3 Commerical Spaces, HUGE Yard, 2 Strategically Placed Curb Cuts, Separate Meters, CAC, +++!!! The Property Is Located In The Heart Of Far Rockaway Minutes From The Rockaway Fwy. In Between Beach Channel Dr. & Seagirt Blvd. !!! Neighbors Include Walmart, Chase Bank, CitiBank, Wyndham Hotels, BP Gas, U-Haul, CVS, T-Mobile, Boost Mobile, Dunkin’, McDonald’s, Key Food, Papa John’s, Domino’s, Popeye’s, Dollar General, Golden Krust, +++!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Furniture Store (3,648 Sqft.): $92,620 Ann. M-M.
Smoke Shop: $31,200 Ann. M-M.
6 Rooms: $18,960 Ann.; M-M.
7 Rooms: $19,200 Ann.; M-M.
7 Rooms: $13,120 Ann.; M-M.
6 Rooms: $17,640 Ann.; M-M.
Parking For 6 Cars: $48,000 Ann.; M-M.
Yard (38,000 Sqft.): $600,000 Ann. (Available)
Pro Forma Gross Income: $840,740 Ann.
Expenses:
Gas: $0 Ann.
Electric: $3,100 Ann.
Maintenance & Repairs: $2,250 Ann.
Water & Sewer: $5,800 Ann.
Insurance: $6,000 Ann.
Flood Insurance: $3,000 Ann.
Taxes: $129,011.04 Ann.
Total Expenses: $149,161.04 Ann.
Net Operating Income (NOI): $691,578.96 Ann. (Pro Forma 10.72 Cap!!!)
Income:
Furniture Store (3,648 Sqft.): $92,620 Ann. M-M.
Smoke Shop: $31,200 Ann. M-M.
6 Rooms: $18,960 Ann.; M-M.
7 Rooms: $19,200 Ann.; M-M.
7 Rooms: $13,120 Ann.; M-M.
6 Rooms: $17,640 Ann.; M-M.
Parking For 6 Cars: $48,000 Ann.; M-M.
Yard (38,000 Sqft.): $600,000 Ann. (Available)
Pro Forma Gross Income: $840,740 Ann.
Expenses:
Gas: $0 Ann.
Electric: $3,100 Ann.
Maintenance & Repairs: $2,250 Ann.
Water & Sewer: $5,800 Ann.
Insurance: $6,000 Ann.
Flood Insurance: $3,000 Ann.
Taxes: $129,011.04 Ann.
Total Expenses: $149,161.04 Ann.
Net Operating Income (NOI): $691,578.96 Ann. (Pro Forma 10.72 Cap!!!)
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£659,973
|
£40.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£659,973
|
£40.34
|
| Taxes |
£101,272
|
£6.19
|
| Operating Expenses |
£15,818
|
£0.97
|
| Total Expenses |
£117,090
|
£7.16
|
| Net Operating Income |
£542,883
|
£33.18
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £659,973 |
| Annual Per SF | £40.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £659,973 |
| Annual Per SF | £40.34 |
| Taxes | |
|---|---|
| Annual | £101,272 |
| Annual Per SF | £6.19 |
| Operating Expenses | |
|---|---|
| Annual | £15,818 |
| Annual Per SF | £0.97 |
| Total Expenses | |
|---|---|
| Annual | £117,090 |
| Annual Per SF | £7.16 |
| Net Operating Income | |
|---|---|
| Annual | £542,883 |
| Annual Per SF | £33.18 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Building Size
16,360 SF
Building Class
C
Year Built/Renovated
1931/2008
Price
£5,063,192
Price Per SF
£309
Net Initial Yield
10.72%
NOI
£542,883
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
0.38
Land Acres
0.98 AC
Opportunity Zone
Yes
Zoning
R5/C1-2
Parking
8.07 Spaces per 1,000 SF Leased
Frontage
Amenities
- 24 Hour Access
- Bus Route
- Commuter Rail
- Public Transport
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (76)
PROPERTY TAXES
| Parcel Number | 15750-0046 | Total Assessment | £379,739 |
| Land Assessment | £61,112 | Annual Taxes | £101,272 (£6.19/sf) |
| Improvements Assessment | £318,628 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
15750-0046
Land Assessment
£61,112
Improvements Assessment
£318,628
Total Assessment
£379,739
Annual Taxes
£101,272 (£6.19/sf)
Tax Year
2024
-
Matthew Shane -
All Island Commercial
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621 Beach 20th St
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