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Retail Investment For Sale On Northern Boulevard

42-07 Northern Boulevard, Long Island City
Description

The subject property is a 24,387 square foot lot improved with a single story commercial/retail building with 300 feet of frontage on Northern Boulevard in Long Island City. Harley Davidson occupies approximately 18,117 square feet and Koeppel Subaru occupies approximately 6,183 square feet of remaining space. Subaru also rents the billboard on the roof. Tenants are liable for their portion of real estate tax increases (Harley-Davidson: 72.73%, Subaru: 27.27%) over the annual property tax at the time of lease signing. The owner is responsible for approximately $92,984 of the property tax, which yields a net income of approximately $478,501. The property is prime for an investor or 1031 exchange buyer who would benefit from the excellent cash flow as well as the high traffic volume along one of the busiest corridors in Queens.

Listing Highlights
Price:$8,750,000
Type:Retail
Pets:No Pets
Status:Closed
ID:61212
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