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1064 Jackson Ave - Value-Add/User Retail Condo

6,165 SF Office/Retail Condo Unit Offered at $4,200,000 in Long Island City, NY 11101

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Investment Highlights

6,398 SF Brand-New Construction Retail Condo in Long Island City
4,395 SF of Ground Floor Retail Space With Multiple Entrances - Allows for Easy Subdivision - 20 Foot Ceilings
Ideal User Opportunity Located One Stop From Manhattan

Property Has 143 Feet of Wrap Around Retail Frontage and it is Located Directly Next to the Entrance to the 7 Train (Vernon-Jackson Station)
2,023 SF of Lower-Level Space With 15 Foot Ceilings - Elevator Goes From Ground Floor to Lower-Level

Property Facts

Price	$4,200,000	Building Class	B
Unit Size	6,165 SF	Floors	1
No. Units	1	Typical Floor Size	4,395 SF
Total Building Size	26,053 SF	Year Built	2021
Property Type	Retail (Condo)	Lot Size	0.12 AC
Property Subtype	Freestanding General Retail Daycare Center General Retail Storefront Retail/Office Office Medical	Parking Ratio	0.15/1,000 SF
Sale Type	Investment or Owner User

Price	$4,200,000
Unit Size	6,165 SF
No. Units	1
Total Building Size	26,053 SF
Property Type	Retail (Condo)
Property Subtype	Freestanding General Retail Daycare Center General Retail Storefront Retail/Office Office Medical
Sale Type	Investment or Owner User
Building Class	B
Floors	1
Typical Floor Size	4,395 SF
Year Built	2021
Lot Size	0.12 AC
Parking Ratio	0.15/1,000 SF

1 Unit Available

Unit Retail

Unit Size	6,165 SF	Sale Type	Investment or Owner User
Price	$4,200,000	Cap Rate	4.87%
Price Per SF	$681.27	NOI	$204,540
Condo Use	Office/Retail

Unit Size	6,165 SF
Price	$4,200,000
Price Per SF	$681.27
Condo Use	Office/Retail
Sale Type	Investment or Owner User
Cap Rate	4.87%
NOI	$204,540

Sale Notes

The subject offering is the retail condominium portion of The Anable, a brand-new construction 8-story luxury condominium building located in the heart of Long Island City. The property rests directly in front of the entrance to the 7 Train (Vernon Blvd-Jackson Avenue Station), and it located one stop into Manhattan.

The offering consists of 4,395 SF of ground floor retail space with 20-foot ceilings, and 2,023 SF of lower-level commercial space. The property has 55 feet of retail frontage along Jackson Avenue, 53 feet of frontage on the curved corner between Jackson Avenue and 50th Avenue, and 35 feet of frontage along 50th Avenue. The C of O allows for all retail uses. The unit has an elevator going from the lower-level to the ground floor, and it is already subbed for all utilities. The property has a brand-new 15-year ICAP Tax Abatement that will run through 2039.

A dental practice, with 60+ locations, just signed a 10-year lease for 3,600 SF of the ground floor retail space. The dentist has 3% annual increases, with three (5) five-year options to renew.

This is an opportunity to acquire a brand-new construction retail condo in the heart of the Long Island City retail corridor that has incredibly cheap abated taxes, zero restrictions on use and incredible frontage.

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