November 11, 2019 According to the new asking price the numbers make sense now!
From $3.5 Million asking to $2.9 Million asking-Big reduction. Ready to go.No rent control , only one Anchor Tenant(NURSERY SCHOOL), and this tenant pays half of all expenses.
New reduced Price $2.9 Million dollars/ Not on Multiple Listing/ LISTING OF THE MONTH!
Building built in 1980’s
ADDRESS OF PREMISES:7252 METROPOLITAN AVENUE, MIDDLE VILLAGE,NY 11379 TENANT PAYS HALF THE EXPENSES AND TAXES EVERY YEAR. TOTAL EXPENSES IS $80,000 DOLLARS. The tenant pays $40,000 toward the expenses and taxes.
COMBINED MAINTENANCE AND TAXES ON PROPERTY IS $80,000 DOLLARS
JANUARY 2020 RENT IS $17,510 MONTHLY OR $210,120 DOLLARS
LESS MAINTENANCE AND TAXES PAID BY OWNER/LANDLORD=$170,120 NET
IN 2022 TENANTS LEASE IS UP HOWEVER TENANT INDICTED THEY WOULD LIKE ANOTHER 20 YEAR LEASE AT MARKET VALUE. (Market value is $20,000 monthly or $240,000 yearly rent.) LESS YOU EXPENSES=$200,000 NET OR 7% CAP RATE
18 YEAR RECORD RENT PAYMENTS ON TIME DURING LEASE AND TENANT PAYS 50% OF ALL EXPENSES ON THE PROPERTY.
Approximate Yearly Expenses is $80,000 dollars.
NO HEADACHES-SCHOOL HAS CLEANING SERVICE AND A SUPER TO MAINTAIN PROPERTY.INCLUDING SNOW REMOVAL.
*********************************NO RENT CONTROL.
TOTAL RENTED SPACE, 13,200 SQ.FT. (1ST. FLOOR 6,700 SQ.FT. FINISHED BASEMENT OF 6,500 SQ.FT. WITH BATHROOMS, LOCKERS, PLAY ROOM, AND ELEVATOR.)
TENANT OCCUPIES 6 PARKING SPACES
JIM TURANO/BROKER-DIVERSE REAL ESTATE 1-347-837-9206
Accepting Letters of Intent to Purchase and presenting them this week to the family members
Forward your letter of intent to purchase to: firstname.lastname@example.org
REAL VALUE-NOW THE NUMBERS MAKE SENSE INVESTORS
OFFERS TO PURCHASE BEING SUBMITTED THIS WEEK!