Corp PetVet & Residential Mixed-Use 4028 58th St 2,700 SF 100% Leased Retail Building Woodside, NY 11377 $2,415,000 ($894.44/SF) 8.01% Cap Rate
INVESTMENT HIGHLIGHTS
- Excellent Mixed-Use Property | 100% Occupied | Scheduled Rent Increases | Tremendous Value & Unique Investment
- Extensive Recent Property Renovations
- Direct Residential Consumer Base | Strong Nearby Demographics |Affluent Community | Pet Lovers | Queens NYC
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Dense Retail Corridor | Strong Tenant Presence | Direct Access to Public Transportation
EXECUTIVE SUMMARY
• The offering presents an excellent mixed-use investment opportunity consisting of 1 residential unit and 1 retail unit
• The offering also features an 800 SF basement, which PetVet uses for their business practices
• The asset is 100% occupied with long-term commitment to the site
• PetVet, who occupies the first floor, features scheduled 2.50% annual rental increases throughout their initial term and their 2 (5-year) option periods
• The property is positioned in a highly desirable retail location with direct access to major residential communities, retail, and commuter routes
• Owner offers a NNN master lease for the residential unit at $2,732/month with 2.50% annual rental increases - coterminous with PetVet - leaving zero management for the buyer
• The asset can be offered without residential master lease, leaving opportunity to increase residential rents which are currently below market
• The offering also features an 800 SF basement, which PetVet uses for their business practices
• The asset is 100% occupied with long-term commitment to the site
• PetVet, who occupies the first floor, features scheduled 2.50% annual rental increases throughout their initial term and their 2 (5-year) option periods
• The property is positioned in a highly desirable retail location with direct access to major residential communities, retail, and commuter routes
• Owner offers a NNN master lease for the residential unit at $2,732/month with 2.50% annual rental increases - coterminous with PetVet - leaving zero management for the buyer
• The asset can be offered without residential master lease, leaving opportunity to increase residential rents which are currently below market
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,700 SF
Building Class
C
Year Built/Renovated
1931/2020
Price
$2,415,000
Price Per SF
$894.44
Cap Rate
8.01%
NOI
$193,472
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.24
Lot Size
0.05 AC
Zoning
R5B/R6/C2-3
Frontage
22’ on 58th St
AMENITIES
- Freeway Visibility
- Signage
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01328-0044 | Improvements Assessment | $34,974 |
| Land Assessment | $8,036 | Total Assessment | $43,010 |
