Deveraux Property Management, LLC                             www.DeverauxProperty.com

 

PERFECT INVESTMENT/USER PROPERTY

 

 

***** SOLD! *****

 

 

Property Description:

·         One (2) story mixed use walk-up building located on the North East corner of 82^nd Street.

·         Restaurant is now vacant on the ground floor, but has been a Restaurant for over 50 years, formerly the Queen of Poland and My Mothers Moustache.

·         Second floor consists of (2) apartments and (2) offices and the Entire Building Completely Renovated.

·         Private Entrance / Great Large Bright Windows / High Ceilings.

·         New Roof, New Windows, New Vinyl Siding, New Sewer Lines to Street.

·         Fully Air Conditioned with New Premier Gas Heat & Air Conditioning Systems.

·         Walking distance to St. Johns Queens Hospital and Elmhurst Hospital & P.S. 58 - The School of Heroes.

·         Convenient to Queens Blvd., Subways #G,V & R & Bus Lines Q58, Q59 & Q45.

·         Minuets from Long Island Expressway and the BQE and Only 15 minutes from NYC and all Airports.

·         Wonderful Restaurants and Shopping only footsteps away.

·         The building is a MUST SEE and is an Excellent Opportunity for an Investor.

 

 

 

 

PERFECT INVESTMENT/USER PROPERTY

 

82-02 Grand Avenue (North East Corner of 82^nd St.) Elmhurst, New York

Income:

Retail                                                      $6,000.00 PROJECTED (plus pays gas & electric direct)                                                              

Office 1                                                  $1,400.00 plus utilities (attorneys)

Office 2                                                  $1,000.00 includes utilities (owner’s office)

Apt. 1                                                     $1,500.00 PROJECTED (plus pays electric direct)

Apt. 2                                                     $1,200.00 PROJECTED (plus pays electric direct)

Gross Monthly Income:      $11,100.00

Gross Annual Income: $133,200.00 + $15,655.00 (share of RE Taxes (50%) and Water (100%)) = $149,555.00

 Expenses:

Real Estate Taxes (05/06):                   $30,260.00

Insurance:                                             $6,000.00

Electric:                                                  $1,855.00

Gas:                                                        $1,975.00

Water:                                                    $700.00

Repairs & Maintenance:                     $250.00

Total Expenses:                        $41,040.00

Net Operating Income:

Total Actual/Projected Income:                                         $149,555.00

Total Actual/Projected Expenses:                                     ($41,040.00)

            Net Operating Income (Actual/Projected):                    $108,515.00

          ASKING PRICE:          SOLD!

For Further Information, Please Contact Exclusive Broker Agent: 

MICHAEL A. GALLO

Deveraux Property Management, LLC

21 Locust Street, Manhasset, New York 11030

Phone: 516-869-1851 / Cell.: 516-776-0829 Fax: 516-869-0939

E-Mail: gallomac@optonline.net

www.DeverauxProperty.com

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any.  The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.