Overview
Corner Retail Building with Cell
This 1,800 square foot corner retail building, located on S. Conduit Avenue in Springfield Gardens, Queens, is available for sale. The property features R4B zoning, excellent signage, and high exposure. It includes 6 parking spaces and a 1,800 square foot basement. The building is equipped with new LED lighting, 200 amp power, and central air conditioning. The property is situated on busy S. Conduit Avenue, minutes from JFK Airport and Green Acres Mall, with neighbors including UPS, Toyota, Hyundai, Capital One, and Bank of America. The property currently generates an annual gross income of $82,800. A deli occupies the 1,800 square foot space plus the 1,800 square foot lower level, with a lease expiring on November 1, 2029, and contributes $52,800 annually. A Verizon cell tower on the property generates $24,000 annually, with a lease expiring in 2053. Two parking spaces leased to a landscaper generate $6,000 annually on a month-to-month basis. Annual expenses include $700 for water and sewer, $250 for maintenance and repairs, $2,803 for insurance, and $17,579.76 in taxes, totaling $21,332.76. The net operating income is $61,467.24 annually. This property is suitable for investors, developers, and end-users.
