24,045 sf Investment Property with 4,540 sf Land For Sale
Description
DY Realty Group LLC has been exclusively retained for the sale of this rare industrial-to-retail investment opportunity in South Richmond Hill, Queens.
This unique assemblage features 24,045 sf of total building area, consisting of:
• 7,685 sf at Atlantic Avenue & 134th Street
• 16,360 sf spanning from Atlantic Avenue through 95th Avenue
• Additionally, there is 4,540 sf of paved and fenced yard space
The entire property is NNN leased to Elite Mitsubishi, which operates its Sales, Service, and Parts Department on-site. The lease has approximately 5 years and 8 months remaining on the lease term with 3% annual escalations. The tenant pays 100% of real estate taxes, insurance, and operating expenses. There is also an opportunity for additional upside with 2,470 SF of second-floor flex space that is currently vacant.
Strategically positioned on a high-traffic thoroughfare, this property offers exceptional visibility and accessibility along Atlantic Avenue and the Van Wyck Expressway, with a daily traffic count exceeding 51,000 vehicles. The location provides direct access to key arteries in Brooklyn and Queens, connecting to the Van Wyck Expressway near JFK Airport.
Documents
Location
Sq Ft
Financials
Construction
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Area Profile
JFK Area (Jamaica, Richmond Hill, Woodhaven, Ozone Park)
The industrial areas surrounding John F. Kennedy International Airport (JFK) play a crucial role in supporting the airport's operations and serving as logistics hubs for the wider New York City region. Leveraging the airport's proximity to global markets these areas are well-connected to major highways such as the Van Wyck Expressway (I-678) and the Belt Parkway, facilitating seamless movement of goods by truck to and from the airport.
Zoning
M1-1 Zone
M Zones
In New York City, areas designated as M-zoned are primarily intended for industrial and manufacturing uses. Here's a summary of M-zoned areas across the city:
1. Purpose and Zoning Regulations:
- M-zones are designed to accommodate a variety of industrial and manufacturing activities, including heavy and light manufacturing, warehousing, distribution centers, and storage facilities.
- These areas are regulated by zoning laws to ensure compatibility with surrounding neighborhoods and to manage issues such as noise, traffic, and environmental impacts.
2. Types of M Zones:
- M1 - Light Manufacturing: Typical uses include warehousing and storage, wholesale services, showrooms, media production, repair centers, etc.
- M2 - Medium Manufacturing: Typical uses include warehousing and storage, transportation facilities, utility services, construction related services, heavy repair, auto uses, etc.
- M3 - Heavy industrial: Typical uses include power plants, bulk storage, recycling and waste management, heavy repair, construction facilities, concrete plants, etc.