Now one of the best 1031exchange properties available
by godfather
 Now one of the Best 1031Exchange Properties for sale!
Nov 11, 2019 | 514 views | 0 0 comments | 30 30 recommendations | email to a friend | print | permalink
INVESTMENT OF THE MONTH 72-52METROPOLITAN AVENUE
INVESTMENT OF THE MONTH 72-52METROPOLITAN AVENUE
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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!

Settling Estate

Building built in 1980’s

 ************METROPOLITAN AVENUE/73PLACE

 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: jturano7423@yahoo.com

REAL VALUE-NOW THE NUMBERS MAKE SENSE INVESTORS

OFFERS TO PURCHASE BEING SUBMITTED THIS WEEK!

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