219-25 Merrick Boulevard, Laurelton, Queens | Development Opportunity | $1,650,000

Home/Investment Sales/Exclusive Investment Sales/219-25 Merrick Boulevard, Laurelton, Queens | Development Opportunity | $1,650,000

219-25 Merrick Boulevard, Laurelton, Queens | Development Opportunity | $1,650,000

$1,650,000.00

  • Description: Development Opportunity for Sale in the Heart of Laurelton
  • Neighborhood: Laurelton
  • Lot Size: 7,456 SF (60′ X 110′)
  • Building Size: 1,200 SF (55′ X 35′)
  • Zoning: R5D/C2-3
  • FAR: 2.0
  • Total Buildable: 14,912 SF +/-
  • Cross Streets: 220th Street & 218th Street
  • Year Built:1950
  • Nearby Retailers: Dunkin’ Donuts, Walgreens, United States Postal Service, Burger King, Mobil, Chase Bank and more
  • NOI: $88,344
  • Cap Rate: 5.9%
  • Asking Price: $1,500,000

Offering Memorandum

Details

An approximately 7,500 SQFT lot with FAR of 2.0, which is currently occupied by a Gas Station and a Repair Shop.  Both Leases run through April, 2022 and have 3% annual increases.  Leases contain demolition clauses allowing the investor to take advantage of the 2.0 FAR to develop up to 14,912 SQFT mixed use property.

The property is located on a busy intersection of 229th street and Merrick Boulevard.

Additional Information

City

Queens

Neighborhood

Laurelton

Broker

Albert Aranbaev

Map

 

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Contact Info

215-15 Northern Boulevard,
3rd Floor
Bayside, NY 11361

Phone: 646.586.2091

Fax: 646.767.6790

Web: www.assetcrg.com