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10-55 Beach 20th Street & 10-62 Beach 21 2 Retail Properties Offered at $4,000,000 in Far Rockaway, NY
INVESTMENT HIGHLIGHTS
- 12,450 SF 4-story commercial building with conversion potential in Far Rockaway.
EXECUTIVE SUMMARY
Consists of 2 lots block through from Beach 20th to Beach 21st Street between Mott & Cornaga Avenues. Ground floor is occupied by a 99 Cent store paying
$12,000/month and has a lease expiring in April 2026. Top three floors are delivered vacant and provide the opportunity to convert the use to residential. 10-62 Beach 21st Street has 4,738 SF of additional air rights that could be built on top of the existing structure. Perfectly situated close to the beach and boardwalk. In close proximity to several schools. Nearby retailers include Chase Bank, Bank of America, CVS and Key Foods Supermarket. 2-minute walk to the Far Rockaway/Mott Ave A train station and just steps from the Mott Ave/Beach 20th Street Q113 & Q114 bus stop Located within the Special Downtown Far Rockaway District, which was rezoned in 2017 to spur development in the area and create a vibrant mixed-use community.
$12,000/month and has a lease expiring in April 2026. Top three floors are delivered vacant and provide the opportunity to convert the use to residential. 10-62 Beach 21st Street has 4,738 SF of additional air rights that could be built on top of the existing structure. Perfectly situated close to the beach and boardwalk. In close proximity to several schools. Nearby retailers include Chase Bank, Bank of America, CVS and Key Foods Supermarket. 2-minute walk to the Far Rockaway/Mott Ave A train station and just steps from the Mott Ave/Beach 20th Street Q113 & Q114 bus stop Located within the Special Downtown Far Rockaway District, which was rezoned in 2017 to spur development in the area and create a vibrant mixed-use community.
PROPERTY FACTS
| Price | $4,000,000 | Status | Active |
| Price / SF | $321.29 / SF | Number of Properties | 2 |
| Sale Condition | Redevelopment Project | Individually For Sale | 0 |
| Cap Rate | 6.38% | Total Building Size | 12,450 SF |
| Sale Type | Investment | Total Land Area | 0.11 AC |
| Price | $4,000,000 |
| Price / SF | $321.29 / SF |
| Sale Condition | Redevelopment Project |
| Cap Rate | 6.38% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 12,450 SF |
| Total Land Area | 0.11 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 10-55 Beach 20th St, Far Rockaway, NY 11691 | Retail | 10,350 SF | 1931 | - |
| 10-62 Beach 21st St, Far Rockaway, NY 11691 | Retail | 2,100 SF | 1963 | - |
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CONTACTS
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Sean Kelly -
Nicole Daniggelis -
Stephen Vorvolakos -
Jack Mastrocola -
Ariel Property Advisors
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10-55 Beach 20th Street & 10-62 Beach 21
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