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86-40 57th Ave 2,480 SF 100% Leased Retail Building Elmhurst, NY 11373 $1,788,800 ($721.29/SF) 4.95% Cap Rate
Investment Highlights
- heavy foot traffic,fully accupied mixed use building
- free standing building
Executive Summary
Heavy foot traffic, quick access to the subway line, across the street from the Elmhurst shopping mall. The mixed-use property is situated on 57th Ave and 86th Street, in an R5 and C2-2 zone. The building was remodeled in 2024, with 2 apartments (2 bedrooms, 1 bath) upstairs, month-to-month; the ground floor has a deli store with brand-new leases (5-year lease plus 5-year option), yearly at a 3% increase. All tenants pay their own expenses.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,480 SF
Building Class
C
Year Built/Renovated
1920/2024
Price
$1,788,800
Price Per SF
$721.29
Cap Rate
4.95%
NOI
$88,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.95
Lot Size
0.06 AC
Zoning
R5/C2-3 - Medium density district with a height limit of 40 feet
Amenities
- Restaurant
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02870-0016 | Improvements Assessment | $33,748 |
| Land Assessment | $6,584 | Total Assessment | $40,332 |
Property Taxes
Parcel Number
02870-0016
Land Assessment
$6,584
Improvements Assessment
$33,748
Total Assessment
$40,332
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86-40 57th Ave