1064 Jackson Ave - Freestanding CONDO FOR SALE


Long Island City, NY 11101
$4,200,000 USD
212-430-5229
1064 Jackson Ave, Long Island City, NY for Sale
$4,200,000 USD
Freestanding CONDO - FOR SALE
1/9
null | 4.87% Cap Rate

1064 Jackson Ave
Long Island City, NY 11101


HIGHLIGHTS

  • 6,398 SF Brand-New Construction Retail Condo in Long Island City
  • Property Has 143 Feet of Wrap Around Retail Frontage and it is Located Directly Next to the Entrance to the 7 Train (Vernon-Jackson Station)
  • 4,395 SF of Ground Floor Retail Space With Multiple Entrances - Allows for Easy Subdivision - 20 Foot Ceilings
  • 2,023 SF of Lower-Level Space With 15 Foot Ceilings - Elevator Goes From Ground Floor to Lower-Level
  • Ideal User Opportunity Located One Stop From Manhattan

OVERVIEW

The subject offering is the retail condominium portion of The Anable, a brand-new construction 8-story luxury condominium building located in the heart of Long Island City. The property rests directly in front of the entrance to the 7 Train (Vernon Blvd-Jackson Avenue Station), and it located one stop into Manhattan. The offering consists of 4,395 SF of ground floor retail space with 20-foot ceilings, and 2,023 SF of lower-level commercial space. The property has 55 feet of retail frontage along Jackson Avenue, 53 feet of frontage on the curved corner between Jackson Avenue and 50th Avenue, and 35 feet of frontage along 50th Avenue. The C of O allows for all retail uses. The unit has an elevator going from the lower-level to the ground floor, and it is already subbed for all utilities. The property has a brand-new 15-year ICAP Tax Abatement that will run through 2039. A dental practice, with 60+ locations, just signed a 10-year lease for 3,600 SF of the ground floor retail space. The dentist has 3% annual increases, with three (5) five-year options to renew. This is an opportunity to acquire a brand-new construction retail condo in the heart of the Long Island City retail corridor that has incredibly cheap abated taxes, zero restrictions on use and incredible frontage.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$681 USD /SF

CAP RATE

4.87%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Value-Add/User Retail Condo

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Day Care Center, Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

26,053 SF

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

C2-2

APN/PARCEL ID

00043-1001

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
212-430-5229

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Scott PlaskyMarcus & MillichapMore Info
212-430-5229

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.