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13107 40th Rd
Flushing, NY 11354
Office Property For Sale
·
588,000 SF
Executive Summary
6 Medical Office Condo Units "PACKAGE SALE” in Skyview Wellness. Asking only $12 Millions. High Cap Rate 7.7% Great Deal. Selling the property only, not selling the business. A medical office tenant is currently renting all 6 units (totally 13,394 SF). The lease will expire at the end of 2026. The current tenant wishes to renew another 5 years lease. The current owners are retiring soon so decide this "PACKAGE SALE”. The new owners can negotiate the new lease terms with the current tenants who are willing to stay. For this commercial property, the tenant is responsible for paying property taxes and management fees. Aside from structural repairs—which are rarely needed—the owner incurs virtually no other expenses. If the buyer wishes to retain the tenants, the current leasing arrangement can be maintained for one year; alternatively, the property can be delivered vacant. The seller spent $1 million renovating the sixth unit into an employee pantry; the property title is classified as a commercial retail store. No rent is currently being collected for this unit. So the buyer can negotiate the rent directly with the tenant, as the space was previously used for the seller's own business. https://www.facebook.com/remaxchampion
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment or Owner User | Cap Rate | 7.70% |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.70% |
Selling the property only, not selling the business.
A medical office tenant is currently renting all 6 units (totally 13,394 SF). The lease will expire at the end of 2026. The current tenant wishes to renew another 5 years lease. The current owners are retiring soon so decide this "PACKAGE SALE”. The new owners can negotiate the new lease terms with the current tenants who are willing to stay.
For this commercial property, the tenant is responsible for paying property taxes and management fees. Aside from structural repairs—which are rarely needed—the owner incurs virtually no other expenses.
If the buyer wishes to retain the tenants, the current leasing arrangement can be maintained for one year; alternatively, the property can be delivered vacant.
The seller spent $1 million renovating the sixth unit into an employee pantry; the property title is classified as a commercial retail store. No rent is currently being collected for this unit.
So the buyer can negotiate the rent directly with the tenant, as the space was previously used for the seller's own business.
https://www.facebook.com/remaxchampion
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1~6 | 13,394 SF | Medical | Upon Request | $924,000 |
Unit 1~6
| Unit Size |
| 13,394 SF |
| Condo Use |
| Medical |
| Price |
| Upon Request |
| NOI |
| $924,000 |
Unit 1~6
| Unit Size | 13,394 SF |
| Condo Use | Medical |
| Price | Upon Request |
| NOI | $924,000 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.70% |
| Description | |
| 6 Medical Office Condo Units "PACKAGE SALE” in Skyview Wellness. Asking only $12 Millions. High Cap Rate 7.7% Great Deal. <br> Selling the property only, not selling the business.<br> A medical office tenant is currently renting all 6 units (totally 13,394 SF). The lease will expire at the end of 2026. The current tenant wishes to renew another 5 years lease. The current owners are retiring soon so decide this "PACKAGE SALE”. The new owners can negotiate the new lease terms with the current tenants who are willing to stay.<br> <br> For this commercial property, the tenant is responsible for paying property taxes and management fees. Aside from structural repairs—which are rarely needed—the owner incurs virtually no other expenses.<br> <br> If the buyer wishes to retain the tenants, the current leasing arrangement can be maintained for one year; alternatively, the property can be delivered vacant.<br> <br> The seller spent $1 million renovating the sixth unit into an employee pantry; the property title is classified as a commercial retail store. No rent is currently being collected for this unit.<br> So the buyer can negotiate the rent directly with the tenant, as the space was previously used for the seller's own business.<br> <br> https://www.facebook.com/remaxchampion</li></ul> |
Property Facts
| Total Building Size | 588,000 SF | Typical Floor Size | 98,000 SF |
| Property Type | Office (Condo) | Year Built | 2006 |
| Property Subtype | Medical | Lot Size | 13.34 AC |
| Building Class | B | Parking Ratio | 5/1,000 SF |
| Floors | 6 | Opportunity Zone |
Yes
|
| Zoning | NZS, C4-2 - General commercial contextual zoning district, set of zoning changes approved by NYC. | ||
| Total Building Size | 588,000 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 6 |
| Typical Floor Size | 98,000 SF |
| Year Built | 2006 |
| Lot Size | 13.34 AC |
| Parking Ratio | 5/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | NZS, C4-2 - General commercial contextual zoning district, set of zoning changes approved by NYC. |
Amenities
- Bus Line
- Metro/Subway
- Security System
- Signage
- Natural Light
- Recessed Lighting
- Air Conditioning
- On-Site Security Staff
