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