42-25 Queens Boulevard Sunnyside, NY 11104

Prime Retail Corner For Sale

Block & Lot: Location: 163 / 37 Northwest corner of Queens Boulevard and 43rd Street. Lot Size: Lot S.F: Building Size: Building S.F.: Stories: Zoning: Commercial Units: *Taxes (12/13): 90 x 190 (Approx.) 17,106 S.F. (Approx.) 90 x 190 (Approx.) 16,200 Plus Basement (Approx.) 1 C1-4/R7A 4 $131,753

*Tenants are responsible for a portion of the taxes.

Property Description: The subject is a 16,200 square foot property with three retail tenants along Queens Boulevard and a dentist's office on 43rd Street. The property is located on the north side of Queens Boulevard and directly in between the 40th Street and 46th Street subway stops on the 7 train. With a zoning designation of C1-4/R7A, the property also has an F.A.R. of 4.0 and an additional 52,224 square feet of available air rights for residential development upstairs. The current tenancy includes a bar/restaurant, a movie theatre, a dentists office and a bank on the corner. The 3,500 square feet occupied by the bank will be delivered vacant. The current income not including projections for the vacant corner averages approximately $20 per square foot, or more than 50% below the average retail rates of $40-$50 per square foot, offering substantial upside to an investor.

SUBMIT OFFERS
PROJECTED REVENUE: Gross Monthly Income: Gross Annual Income: PROJECTED EXPENSES: RE Taxes (12/13): Insurance (actual): Management (@ 3% of EGI): Total Expenses: NET OPERATING INCOME: $40,283.22 $483,398.60 For further information or inspection, please contact Exclusive Agents:

James P. Nelson Evan J. Daniel Partner Director of Sales jnelson@masseyknakal.com edaniel@masseyknakal.com $131,753.00 212-696-2500 x7710 718-275-3400 x2620 $10,963.00 Mitchell Levine Matt Nickerson $14,501.96 Director of Sales Associate $157,217.96 mlevine@masseyknakal.com mnickerson@masseyknakal.com 212-696-2500 x7761 212-696-2500 x7761 $326,180.64

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

118-35 Queens Blvd. 14th Floor Forest Hills, NY 11375 718.275.3400 Fax 718.275.5478 www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER

42-25 Queens Boulevard Sunnyside, NY 11104

Prime Retail Corner For Sale

Unit Dime Savings Bank Kubikian & Pushkulian P.J. Horgans Tavern Sunnyside Movie Theatre TOTAL: (1) Approximate square feet. (2) Includes basement space.
(3)

Size

(1) (2) (2)

Rent / S.F. $ $ $ $ 55.00 16.44 42.91 17.70 $ $ $ $ $ $ $

Monthly Rent 16,041.67 6,095.00 185.57 4,648.72 12,463.39 848.87 40,283.22 $ $ $ $ $ $ $

Annual Rent* 192,500.00 73,140.00 2,226.84 55,784.64 149,560.68 10,186.44 483,398.60

LXP Vacant 10/31/2014 10/31/2014 6/30/2018 12/31/2014 12/31/2014

3,500 4,450 1,300 8,450

Kubikian & Pushkulian - Tax contribution

Sunnyside Movie Theatre - Tax contribution

(3) Lease includes an option to renew for five (5) years with a maturity date of October 31, 2019. *Rent increases at approximately 3% annually.

For further information or inspection please contact Exclusive Agents:

James P. Nelson Evan J. Daniel Mitchell Levine jnelson@masseyknakal.com edaniel@masseyknakal.com mlevine@masseyknakal.com 212-696-2500 x7710 718-275-3400 x2620 212-696-2500 x7761 Matt Nickerson mnickerson@masseyknakal.com 212-696-2500 x7761

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

118-35 Queens Blvd. 14th Floor Forest Hills, NY 11375 718.275.3400 Fax 718.275.5478 www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER