39-38-39-42 62nd St
Woodside, NY 11377
Retail Property For Sale

COMPASS has been retained on an exclusive basis to handle the sale of 61-17 - 61-29 Roosevelt Avenue, 61-31 Roosevelt Avenue, 39-38 62nd Street, 39-40 62nd Street and 39-42 62nd Street, Woodside, New York. This is a two-story mixed-use corner property with access from 61st Street, Roosevelt Avenue and 62nd Street. It features multiple retail shops including Fay-Da Bakery and Cafe and a HF Dollar and Up, 7700 square foot supermarket among other shops. The residential portion consists of 5 apartments located on the 2nd floor, (walk up). This property has recently undergone a $2.5 million full renovation, including new sewer lines, new store fronts, all new electric and plumbing, including gas lines and hot water heaters and furnace, new roof, roof trusses and stucco facade. Location is key to this property with very heavy foot traffic as the 7 train stop at 61st Street and LIRR to Penn Station and Long Island is located in front of this property. The Q32 bus stops on both corners. The Q70 bus to LaGuardia Airport on the next corner. The US Post Office is on 61st Street adjacent to the property. Two very strong AAA retail tenant leases are structured with responsibilities on the tenant side, including water, insurance, utilities, repairs and a portion of real estate taxes. CURRENT OVERALL INCOME/EXPENSE The gross income is $717,876 with great increases The expenses are $146,085 The NOI: $571,791 PROPERTY INFO: Residential sq feet: 1935 Retail sq feet: 11,700 As a re-development there is additional FAR up to five stories. This property makes for the perfect investment for any buyer to expand their portfolio with great projections and potential.