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83-40 72nd Dr 31,783 SF Flex Building Glendale, NY 11375 $13,000,000 ($409.02/SF) 6.45% Cap Rate
Investment Highlights
- CAN BE PURCHASED SEPARATELY OR AS A PACKAGE WITH 83-34 72ND DRIVE; NO REAL ESTATE TAXES DUE TO IDA PILOT PROGRAM
- 26 CAR PARKING
- 10,000 SF OF WAREHOUSE/INDUSTRIAL SPACE
- CURRENT TWO TENANTS - 3 YR LEASES WITH 3 YR OPTIONS - INCOME $838,320/ANNUM
- 21,873 SF OF MODERN HIGH END FINISHED OFFICE SPACE
Executive Summary
OCCUPANCY - 3 YEARS
21,873 SF OF MODERN HIGH END FINISHED OFFICE SPACE
10,000 SF OF WAREHOUSE/INDUSTRIAL SPACE
26 CAR PARKING
NO REAL ESTATE TAXES DUE TO IDA PILOT PROGRAM
TWO CURRENT TENANTS:
GDI INTEGRATED FACILOITY SERVICE (PUBLICLY OWNED AND TRADED ON THE TORONTO STOCK EXCHANGE) - 3 YR LEASE WITH 3 YR OPTION
T-MOBILE LEASE IS FOR EQUIPMENT ON THE ROOF WITH 5 YEAR OPTIONS THROUGH 2032
TOTAL INCOME $838,320/ANNUM
21,873 SF OF MODERN HIGH END FINISHED OFFICE SPACE
10,000 SF OF WAREHOUSE/INDUSTRIAL SPACE
26 CAR PARKING
NO REAL ESTATE TAXES DUE TO IDA PILOT PROGRAM
TWO CURRENT TENANTS:
GDI INTEGRATED FACILOITY SERVICE (PUBLICLY OWNED AND TRADED ON THE TORONTO STOCK EXCHANGE) - 3 YR LEASE WITH 3 YR OPTION
T-MOBILE LEASE IS FOR EQUIPMENT ON THE ROOF WITH 5 YEAR OPTIONS THROUGH 2032
TOTAL INCOME $838,320/ANNUM
Property Facts
| Price | $13,000,000 | Building Class | B |
| Price Per SF | $409.02 | Lot Size | 0.73 AC |
| Sale Type | Investment or Owner User | Rentable Building Area | 31,783 SF |
| Cap Rate | 6.45% | No. Stories | 2 |
| Property Type | Flex | Year Built/Renovated | 1930/2008 |
| Property Subtype | Light Distribution | Tenancy | Single |
| Zoning | M1-1 - A zoning district for Light Manufacturing that permits manufacturing, commercial, and community facility uses, such as woodworking shops, auto repair, and wholesale services. | ||
| Price | $13,000,000 |
| Price Per SF | $409.02 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.45% |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | B |
| Lot Size | 0.73 AC |
| Rentable Building Area | 31,783 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1930/2008 |
| Tenancy | Single |
| Zoning | M1-1 - A zoning district for Light Manufacturing that permits manufacturing, commercial, and community facility uses, such as woodworking shops, auto repair, and wholesale services. |
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Exceptionally walkable
90/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03810-0444 | Improvements Assessment | $1,242,000 |
| Land Assessment | $432,000 | Total Assessment | $1,674,000 |
Property Taxes
Parcel Number
03810-0444
Land Assessment
$432,000
Improvements Assessment
$1,242,000
Total Assessment
$1,674,000
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83-40 72nd Dr
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