FOR SALE
$39,000,000
136 65 Roosevelt Avenue, Flushing, NY 11354
10,000 SF
Square Feet
$3,900
PPSF
Property Description
- Block-through trophy property, ideally located 50’ of frontage along Roosevelt Avenue & 75’ along 39th Avenue, the highest trafficked corridor in all of Queens, NY. Steps to the Flushing-Main Street [7] subway station & two blocks to the Long Island Rail Road station
- Entire property is triple-net leased to Flagstar Bank
- Located within a Qualified Opportunity Zone, making it an excellent long-term opportunity for an investor with a 1031 exchange
- Future mixed-use development opportunity; C4-3 zoning allows over 51,000 buildable square feet.
- Ownership has held this property for over 40 years; Surrounded by new developments, such as Flushing Commons, Tangram House, & Queens Crossing.
Property Details
Asset Type
Retail
Zoning
C4-3/R6 Equivalent
Lot Size
10,700 SF
Neighborhood
Flushing
Submarket
Flushing
ZIP
11354
Listing Type
sale
Offering Memorandum
30 years
10 years
Net Operating Income (NOI)
$0
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)
-$2,218,559
Cash-on-Cash Return
-22.75%
Monthly Debt Service
$184,880
Annual Debt Service
$2,218,559
View on Map
Address
136 65 Roosevelt Avenue
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Flushing Retail Market Snapshot
Boundary boundary · Retail · Sale
No investors found in this market.
