161-15 29TH AVENUE Flushing | NY 11358 TEAMPREUSS FOR Fully-Occupied Mixed-Use Building in Flushing SALE ASKING PRICE $1,250,000 • Long-term retail tenant at below market rent providing for tremendous upside • Owner-User Opportunity • Located minutes from Downtown Flushing • Q16 bus stop located steps from the property TEAMPREUSS 161-15 29TH AVENUE Flushing, NY 11358 Fully-Occupied Mixed-Use Building in Flushing with Upside ASKING PRICE - $1,250,000 PROPERTY DESCRIPTION PROPERTY & BUILDING INFORMATION Cushman & Wakefield has been retained on Address 161-15 29th Avenue, Flushing, NY 11358 an exclusive basis to arrange for the sale Location Midblock between 161st Street and 163rd Street of 161-15 29th Ave, Flushing. The subject Block / Lot 4889 / 56 property is a fully occupied two-story mixed- 21’ x 103.75’ (Approx.) use building in North Flushing. Lot Dimensions Gross Lot SF 2,163 (Approx.) The ground floor has been occupied by an Number of Buildings 1 insurance company since 2010 and on a Stories 2 month to month lease providing an owner- Building SF 2,180 (Approx.) user opportunity. Second floor is a two Building Size 20' x 53.5' (Approx.) bedroom, one bath residential apartment with a lease expiring April 2021. The property ZONING INFORMATION has a stable cash flow with potential upside Zoning District R3-2, C1-3 in rents. It is a block from the Q16 bus stop, FAR (As of Right) 1 minutes from downtown Flushing and Bayside. NYC FINANCIAL INFORMATION Assessment (20/21) $33,977 Property inspections are by appointment Taxes (20/21) $7,192 only, please contact exclusive brokers. TAX MAP BLOCK FINANCIAL SNAPSHOT 4889 GROSS INCOME $48,000 LOT 42ND STREET EXPENSES $12,894 56 NET INCOME $35,106 Tenant Unit SF LXP P.P.S.F. Annual Rent Insurance Month- 1st Floor 1,068 $25.84 $27,600 Office Month BAYSIDE LA 2 BR/ 1 BA 2nd Floor 1,112 Apr-21 $18.35 $20,400 56 Apartment $48,000 161ST STREET 161ST 29TH AVE THE TEAM PREUSS ADVANTAGE We provide a full service approach to real estate, providing a distinct specialization in the capital markets. Investment Sales • Debt • Leasing | Queens • Brooklyn • Long Island STEPHEN R. PREUSS KEVIN LOUIE CHARLIE DUPONT 118-35 Queens Boulevard Vice Chairman Director Associate 14th Floor +1 718 512 2118 +1 718 512 2627 +1 718 512 2602 Forest Hills, NY 11375 [email protected] [email protected] [email protected] cushmanwakefield.com ©2020 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representation, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance. 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