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22-12 119 Street

College Point, NY 11356
  • $5,700,000
  • STATUS: Active
  • ON SITE: 145 Days
  • MLS #: 3340588
$5,700,000
  • 0
    BEDS
  • 0.52
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Business Opportunity
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Area:

School Ratings & Info

School District:

Description

The subject property is the Flushing Marina. It is approx. 26,000 sqft M1-1 zoned lot, with a 7767sqft building, and 50 boat slips. The 1st floor of the building is warehouse space, and the 2nd floor has a legal residential apartment called a "caretakers" apartment on the C of O, which was updated only 10 years ago in 2011. Currently, the owner occupies the building and leases out the Marina for $5000/ month. That tenant then operates the Marina for a profit. No lease in place for the Marina tenant. Current land and parking rates in Queens for M1-1 zoned property are $12 to $15/ sqft. Even without applying a rental rate to the building, just the 26,000sqft of land and the Marina can generate $372,000/ year in income. The property is great for an industrial investor or an end user for truck parking and/or material storage. First time on the market in over 50 years. Also has riparian rights.

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© 2022 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Pagano | Keller Williams Realty. Data last updated: 2022-01-16T00:16:31.693.
www.teampaganogroup.com/homes/120755782
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22-12 119 Street College Point, NY 11356

  • Price: $5,700,000
  • Status: Active
  • On Site: 145 Days
  • MLS #: 3340588
0
Beds
0
Baths
0
½ Baths
0.52
Acres
Neighborhood:
Queens
County:
Queens
Area:
Queens
School District:
Queens 25
Property Description
The subject property is the Flushing Marina. It is approx. 26,000 sqft M1-1 zoned lot, with a 7767sqft building, and 50 boat slips. The 1st floor of the building is warehouse space, and the 2nd floor has a legal residential apartment called a "caretakers" apartment on the C of O, which was updated only 10 years ago in 2011. Currently, the owner occupies the building and leases out the Marina for $5000/ month. That tenant then operates the Marina for a profit. No lease in place for the Marina tenant. Current land and parking rates in Queens for M1-1 zoned property are $12 to $15/ sqft. Even without applying a rental rate to the building, just the 26,000sqft of land and the Marina can generate $372,000/ year in income. The property is great for an industrial investor or an end user for truck parking and/or material storage. First time on the market in over 50 years. Also has riparian rights.
Property Features

Business Type Industrial Cross Street 22nd Ave Net Operating Income 0.00 Property Sub Type Industrial

Listing courtesy of Alex Baron of Keller Williams Rlty Landmark.
© 2022 OneKey MLS. All rights reserved.


© 2022 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Pagano | Keller Williams Realty. Data last updated: 2022-01-16T00:16:31.693.
 
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