Corner Commercial Property for Sale | 7608 21st Ave
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Corner Commercial Property for Sale 7608 21st Ave
8,492 SF Vacant Retail Building East Elmhurst, NY 11370 $5,500,000 ($648/SF)
Investment Highlights
- Prime Location: Located in heart of Astoria Heights
- Can be delivered fully vacant
- Turn key property
- Includes renovated spaces for a laundromat, restaurant/bar, deli, party hall, and social club
- Large utility capacities (6 inches)
Executive Summary
Explore an exceptional investment opportunity at 76-02 21st Ave in Astoria Heights, NY 11370. This expansive 8,492 square foot corner property features newly renovated retail spaces and offers the flexibility for the buyer to have the entire building delivered vacant upon sale. The property includes a diverse array of establishments, such as:
• Laundromat: Recently upgraded with modern amenities to cater to local needs.
• Restaurant/Bar: Complete with a full liquor license, perfect for dining and entertainment.
• Deli: A convenient stop for quick meals, serving the community with efficiency.
• Party Hall: Ideal for hosting events and gatherings, and enhancing community engagement.
• Social Club: A hub for social interactions and member benefits, adding community value.
Located in Astoria Heights, known for its accessibility and cultural diversity, this property promises not only steady rental income but also substantial potential for growth. The option to have the entire building delivered vacant offers unparalleled flexibility for an end user or repositioning. Don't miss this rare opportunity to acquire a cornerstone of Astoria Heights' commercial landscape.
• Laundromat: Recently upgraded with modern amenities to cater to local needs.
• Restaurant/Bar: Complete with a full liquor license, perfect for dining and entertainment.
• Deli: A convenient stop for quick meals, serving the community with efficiency.
• Party Hall: Ideal for hosting events and gatherings, and enhancing community engagement.
• Social Club: A hub for social interactions and member benefits, adding community value.
Located in Astoria Heights, known for its accessibility and cultural diversity, this property promises not only steady rental income but also substantial potential for growth. The option to have the entire building delivered vacant offers unparalleled flexibility for an end user or repositioning. Don't miss this rare opportunity to acquire a cornerstone of Astoria Heights' commercial landscape.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$339,680
|
$40.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$339,680
|
$40.00
|
| Taxes |
$52,586
|
$6.19
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$52,586
|
$6.19
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $339,680 |
| Annual Per SF | $40.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $339,680 |
| Annual Per SF | $40.00 |
| Taxes | |
|---|---|
| Annual | $52,586 |
| Annual Per SF | $6.19 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $52,586 |
| Annual Per SF | $6.19 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
8,492 SF
Year Built/Renovated
1934/1994
Price
$5,500,000
Price Per SF
$648
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.00
Lot Size
0.19 AC
Zoning
R 4 , C 1 - 2 - Mixed use commercial and residential zoning
Frontage
28 FT on 21st Ave
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Restaurant
- Signage
- Skylights
- Tenant Controlled HVAC
Walk Score ®
Very Walkable (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 00972-0001 | Total Assessment | $496,466 |
| Land Assessment | $213,750 | Annual Taxes | $52,586 ($6.19/SF) |
| Improvements Assessment | $282,716 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
00972-0001
Land Assessment
$213,750
Improvements Assessment
$282,716
Total Assessment
$496,466
Annual Taxes
$52,586 ($6.19/SF)
Tax Year
2024
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Corner Commercial Property for Sale | 7608 21st Ave
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