8707 Grand Ave
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8707 Grand Ave
2,290 SF 100% Leased Retail Building Elmhurst, NY 11373 $1,600,000 ($698.69/SF) 4.50% Cap Rate
EXECUTIVE SUMMARY
Prime location. Heart of Elmhurst. In front of Q58, 59 Bus station. Steps away from Queens Blvd & Broadway corner. 1 Block to M, R station Broadway Queens Blvd Station. Existing retail & commercial tenants with excellent business status. Total 3 units, retail c of o for basement, retail c of o for street level, professional office for 2nd Fl
FINANCIAL SUMMARY (PRO FORMA - 2021) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$61,800
|
$26.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$61,800
|
$26.99
|
| Taxes |
$11,544
|
$5.04
|
| Operating Expenses |
$2,000
|
$0.87
|
| Total Expenses |
$13,544
|
$5.91
|
| Net Operating Income |
$48,256
|
$21.07
|
FINANCIAL SUMMARY (PRO FORMA - 2021)
| Gross Rental Income | |
|---|---|
| Annual | $61,800 |
| Annual Per SF | $26.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $61,800 |
| Annual Per SF | $26.99 |
| Taxes | |
|---|---|
| Annual | $11,544 |
| Annual Per SF | $5.04 |
| Operating Expenses | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.87 |
| Total Expenses | |
|---|---|
| Annual | $13,544 |
| Annual Per SF | $5.91 |
| Net Operating Income | |
|---|---|
| Annual | $48,256 |
| Annual Per SF | $21.07 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,290 SF
Building Class
C
Year Built
1989
Price
$1,600,000
Price Per SF
$698.69
Cap Rate
4.50%
NOI
$72,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.05
Lot Size
0.05 AC
Zoning
R6/C2-2
Frontage
16’ on Grand Ave
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- G & G Grocery
- -
- 1,530 SF
- -
- May 2021
- Golden Bull Management
- -
- 760 SF
- -
- Apr 2026
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| G & G Grocery | - | 1,530 SF | - | May 2021 | ||
| Golden Bull Management | - | 760 SF | - | Apr 2026 |
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02477-0019 | Total Assessment | $143,820 (2024) |
| Land Assessment | $34,200 (2024) | Annual Taxes | $11,544 ($5.04/SF) |
| Improvements Assessment | $109,620 (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Number
02477-0019
Land Assessment
$34,200 (2024)
Improvements Assessment
$109,620 (2024)
Total Assessment
$143,820 (2024)
Annual Taxes
$11,544 ($5.04/SF)
Tax Year
2021
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