71-43/55 Yellowstone Boulevard #71-43 45 47 49 51 55 Forest Hills, NY 11375

Located in the Forest Hills and Rego Park neighborhood, this well-maintained, fully occupied, six-unit shopping plaza offers significant current net income and development potential. The property benefits from high foot and car traffic due to its location at a street intersection, featuring 100 feet of frontage and good sign visibility. The shopping plaza, built in 1951, is approximately 6,255 square feet and includes access to storage in spacious cellars. The property is situated on a lot around 10,000 square feet, which includes a rear parking lot of approximately 3,500 square feet accommodating 11 cars. The current tenants are long-term and reputable, operating under five-year net leases, responsible for taxes and utilities. Tenants include Yellowstone laundromat, Sushi Akio, Red house kitchen, Little tigers martial arts, Bombay grill house, each occupying around 900 sq ft per store, and New Paragon cleaners on the corner store occupies around 1,750 sq ft. The property has a gross yearly rental income around $378k and a yearly net income around $288k at a 4.6% cap rate. Yearly taxes are $68,997. The property is zoned R4 with a C1-2 commercial overlay and is classified as Building Class K1 - One Story Retail. It is located near the QM12 & QM42 express to midtown Manhattan, Q23 to LaGuardia airport, many mid rise coop buildings, Evoke electric vehicle charging station, Austin street police station, Forest Hills youth athletic association soccer, baseball and footbal fields, family owned groceries/ pharmacies and Dunkin donuts. The property presents a development opportunity up to 20,000 square feet. The location is conveniently off the major junction of Grand central & Mr. Jackie Robinson parkways, Van Wyck expressway and Metropolitan avenue.