Description
Calling All Investors, Developers & End-Users!!! 7, 700+ Sqft. 4 Unit Free Standing Building On A 18, 875 Sqft. Lot For Sale In Island Park!!! The Property Features Excellent Signage, Great Exposure, High 14’ Ceilings, 32 Parking Spaces In A Private Gated Parking Lot, Office Building Zoning, 3 Phase Power, Conference Room, Private Offices, 2 Apartments, Strategically Placed Curb Cuts, Accessible Parking, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Island Park On Busy Austin Blvd. Just Blocks From The Long Beach Bridge!!! The Property Has 205’ Of Frontage On Busy Austin Blvd. + 204’ Of Frontage On Broadway!!! This Section Of Austin Blvd. Has A Daily Traffic Count Of 40, 200+ Vehicles Per Day!!! Neighbors Include Costco, Stop & Shop, Public Storage, Costello’s Ace Hardware, King Kullen, Dunkin’, Wendy’s, McDonald’s, Trader Joe’s, +++!!! This Property Offers HUGE UPSIDE Potential!!! This is Could Be Your Next Development Site Or The Next Home For Your Business!!!Income: Apt. 1 (1 Br.): $31, 200 Ann. M-M. Apt. 2 (1 Br.): $31, 200 Ann. M-M.4, 500 Sqft. Office + 800 Sqft. Warehouse: $120, 000 Ann. NNN. Lease Exp.: 6/15/26. Gross Income: $182, 400 Ann.Expenses:Gas: $2, 000 Ann. (Apartments Only)Electric: $0 Ann.Insurance: $3, 253 Ann.Maintenance & Repairs: $250 Ann.Water: $0 Ann.Taxes: $38, 695.30 Ann. Total Expenses: $44, 198.30 Ann. Net Operating Income (NOI): $138, 201.70 Ann. (7.09% Cap!!!)
More Property Details
Lot Size: 0.4224
Lot Sq Ft: 18400
Heat: Natural Gas
A/C: Central Air
Water: Public
Sewer: Public Sewer
Taxes: $38,695