71-49 austin street
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TEAMPREUSS
FOREST HILLS, QUEENS NY 1 1375
71-49 Austin Street
TEAMPREUSS 71-49 AUSTIN STREET
BLOCK / LOT 3257 / 130
BUILDING DIMENSIONS 16’ X 70’ approx.
BUILDING SQ. FT. 2,560 approx.
STORIES 2
REAL ESTATE TAXES (18/19) $37,327
GROSS LOT SIZE 16.5’ X 102.42’ irr, approx.
LOT SQUARE FOOTAGE 1,690 sq. ft., approx.
ZONING C4-4A (R7A)
FAR 4.0
BUILDABLE SQ. FT. 6,760 sq. ft., approx.
AIR RIGHTS 4,200 sq. ft., approx.
BUILDING INFORMATION
ZONING & LOT INFORMATION
71-49 Austin StreetFOREST HILLS, QUEENS NY 11375
FULLY-OCCUPIED TWO-STORY MIXED-USE BUILDING WITH RETAIL TENANT BAREBURGER
Cushman & Wakefield has been retained on an exclusive basis for the sale of 71-49 Austin Street in Forest Hills. 71-49 Austin Street is a two-story mixed-use building currently fully-occupied with one retail tenant and two residential units.
The retail tenant is Bareburger and is in place through October 2021 with one five-year option to renew through 2026. Bareburger has been in place since October 2011. Barbeburger has 33 locations in the tri-state area with other locations in Pennsylvania, Ohio, Atlanta, Washington D.C., and Dubai.
The second floor has two (2)-bedroom apartments. One apartment is leased through July 2019 and the second is occupied on a month-month basis.
The property is located in a highly sought after location for retail, as Austin Street is known to have high foot traffic and an abundance of national retailers. Surrounding
retailers include Sephora, Starbucks, Shake Shack, Victoria’s Secret, Buffalo Wild Wings, Banana Republic, and Chipotle.
Public transportation is easily accessible via the E F M & R subway trains at Queens Boulevard and 71st Avenue, as well as via the LIRR located around the corner on Continental Avenue.
Property inspections are by appointment only, please inquire within.
Cushman and Wakefield is also marketing neighboring properties at 71-41/43/45 Austin Street. Inquire for details.
Note: Bareburger occupies space at 71-49 Austin Street, as well as at 71-51 Austin Street on separate leases. ONLY 71-49 Austin Street is for sale.
ASKING PRICE $3,500,000
71-49 AUSTIN STREET
71 -49 Aust in S t r ee tASKING PRICE $3,500,000
FINANCIAL SUMMARY - RENT ROLL
ANNUAL EXPENSES NET OPERATING INCOME
AUSTIN ST
QUEENS BLVD
UNIT UNIT TYPE LXP GSF P.P.S.F MONTHLY
RENT
ANNUAL
TOTAL
Bareburger Retail Store 10/1/2021 1,440 $74 $8,867.39 (1) $106,408.69 (1)
Apartment #2R 2BD-1BA 7/31/2019 560 $42 $1,950 $23,400
Apartment #2F 2BD-1BA M-M 560 $32 $1,500 $18,000
TOTAL 2,560 $12,317.39 $147,808.69
(1) effective rent October 2019
EXPENSES (ESTIMATED)
Real Estate Taxes (18/19) Department of Buildings $31,728
Insurance Per Ownership $4,000
Utilities Per Ownership $2,000
Repairs & Maintenance Per Ownership $1,500
TOTAL $39,228
GROSS INCOME $147,809
ANNUAL EXPENSES $39,228
NET OPERATING INCOME $108,581
71-49 AUSTIN STREET
71 -49 Aust in S t r ee tASKING PRICE $3,500,000
RETAIL / TRANSPORTATION MAP
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COHEN’S FASHION OPTICAL
BUFFALO WILD WINGS71-49 AUSTIN STREET
TAX MAP AERIAL MAPQUEENS BLVD
AUSTIN ST
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BLOCK 3257AUSTIN ST
QUEENS BLVD
FOR FURTHER INFORMATION, PLEASE CONTACT EXCLUSIVE AGENTS:
118-35 QUEENS BOULEVARD, 14TH FLOOR, FOREST HILLS, NY 11375 WWW.CUSHMANWAKEFIELD.COM
71 -49 Aust in St reet , Forest Hills
TEAMPREUSS
STEPHEN R. PREUSSSenior Managing Director
(718) 512 2118
ANDREAS EFTHYMIOUAssociate Director
(718) 512 2621
RANI BENDARYAssociate
(718) 512 2106
KEVIN LOUIEAssociate Director
(718) 512 2627
KEVIN SCHMITZAssociate Director
(718) 512 2628
ASKING PRICE $3,500,000
Cushman & Wakefield Copyright 2019. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.