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1505 132nd St - College Point Plaza

6,500 SF Industrial Condo Unit Offered at $2,100,000 in College Point, NY 11356

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Investment Highlights

Located in close proximity to Whitestone Expressway.

Subject Property has 12 parking spaces.

Executive Summary

MOTIVATED SELLER-BEST OFFER- 2 Story Condo Industrial Warehouse!! Upper Level-Offices-3,000SF - Occupied 5 offices, conference room, 2 renovated restrooms; elevator; 7 parking spaces- Upstairs Tenant on month to month lease; available in 90 days or tenant willing to sign 18 month lease; Rental: $4,500 per month Lower Level-Warehouse-3500SF-Occupied Warehouse, 19 foot ceilings, 1 Office; 2 renovated restrooms; 5 parking spaces- No Fresh Food; Dry Goods Only HOA FEE: $1300 per month-GREAT OPPORTUNITY! MUST SEE! PRIVATE TOUR AVAILABLE

Broker Offering Memorandum

Property Facts

Price	$2,100,000	Building Class	C
Unit Size	6,500 SF	Floors	2
No. Units	1	Typical Floor Size	40,000 SF
Total Building Size	80,000 SF	Year Built	2000
Property Type	Industrial (Condo)	Lot Size	2.30 AC
Property Subtype	Warehouse Industrial Distribution Industrial Service	Parking Ratio	0.15/1,000 SF
Sale Type	Owner User

Price	$2,100,000
Unit Size	6,500 SF
No. Units	1
Total Building Size	80,000 SF
Property Type	Industrial (Condo)
Property Subtype	Warehouse Industrial Distribution Industrial Service
Sale Type	Owner User
Building Class	C
Floors	2
Typical Floor Size	40,000 SF
Year Built	2000
Lot Size	2.30 AC
Parking Ratio	0.15/1,000 SF

1 Unit Available

Unit 15-05

Unit Size	6,500 SF	Condo Use	Industrial
Price	$2,100,000	Sale Type	Owner User
Price Per SF	$323.08	No. Parking Spaces	12

Unit Size	6,500 SF
Price	$2,100,000
Price Per SF	$323.08
Condo Use	Industrial
Sale Type	Owner User
No. Parking Spaces	12

Description

2 Story Industrial Condominium Warehouse with Two Units: Upper Level-3000sf: 5 Offices,2 restrooms & Elevator-Pays $4500 p/m
Lower Level Warehouse- 3500 sf: Rolldown gate, 19 ft ceilings, 2 restrooms, one office.-Pays $7800 p.m + 3.5% annual escalations
12 Exclusive Parking Spaces on site.

Sale Notes

REDUCED PRICE-MUST SEE!!-MOTIVATED SELLER-1505 132nd Street is a 6,500-square-foot flex use and industrial condo in College Point, New York, within the Northeast Queens submarket. The property currently has two tenants in place and offers the perfect value-add opportunity. Totaling 6,500 square feet, 1505 132nd Street is comprised of two floors with 3,500 square feet of warehouse space on the ground floor and 3,000 square feet of office space on the second story. Features of the property include an elevator, conference room, renovated restrooms, a reception area, and five offices. The warehouse space boasts tall 19-foot ceilings. Additionally, there are two separate 208v 3-phase power feeds, one for the first floor and one for the second story; these are connected to Con Ed via two new "smart" meters along with the natural gas. Located within the busy College Point Plaza, the industrial condo is positioned in a prominent 80,000 square foot industrial condo park. The space is perfect for light manufacturing, distribution, warehouse use, and other industrial possibilities. With one tenant occupying 3,500 square feet of space and office tenant occupying the rest, the property brings in income of $147,600 per year.

1505 132nd Street is well-located with Whitestone Expressway less than a mile away, making commuting to and from the property a breeze. The surrounding area boasts impressive demographics, as well. Within five miles, the population is over 1.62 million, and daytime employment is 358,945, with 75,282 working in the trade transportation and utilities or manufacturing industries. The average household income within a five-mile radius is $84,214, providing a good quality of life for those in the area. This industrial condo is also located in a strong local market. Northeast Queens is a large submarket with a low 4.1% vacancy rate and excellent rent growth of 5.6% in the last 12 months.
Property tours are available by appointment only, please contact the listing broker to schedule.