46-55 METROPOLITAN AVENUE

Elite ListingIndustrial QueensMaspeth

$12,000,000

Price

-%

Cap Rate

24

Units

Contact Agent

NOI


Property located at 46-55 METROPOLITAN AVENUEIc expand

46-55 Metropolitan Avenue is a 24-unit commercial loft, warehouse and retail building located in the Ridgewood neighborhood of Queens, NY, right at Border of Brooklyn and Queens. The subject property is built 100 ft x 95 ft on a 103 ft x 100 ft, M3-1 zoned lot (Block: 02611 Lot: 0503).The four-story building features three 8 ft x 10 ft drive-in bays, two freight elevators, three phase power with 1,200 amps and 13 ft ceiling heights. The 36,000 SF building is 92% leased with only two vacancies.

The building stands in front of the Q54 bus stop, is a 2-min walk from B57 bus stop at Flushing Avenue, a 6-min walk to Q59 bus stop at Gardner Ave and a 14-min walk to the Jefferson Street subway station, serviced by the L line. It is strategically located within a 12-min drive to the Brooklyn Queens Expressway (I-278) and is nestled at the crossroads of the thriving creative, maker, and industrial communities of East Williamsburg, Bushwick, Ridgewood and Maspeth.

The lofts are clean vanilla boxes with hardwood floors and minimal to no columns depending on the space. Each unit is furnished with a rotating gas heater and most have ideal window access with natural light permeating the spaces. All tenants pay their own utilities.

46-55 Metropolitan Avenue offers investors the opportunity to purchase a high-occupancy, cash-flowing commercial building with income hedged across a verity of tenancies hailing from a diverse multitude of industries. A buyer can realize additional upside in theexisting rent roll by way of strategic rent increases and capital improvements thanks to the building’s mostly short-term leases.

Property Details

Block/Lot:2611/503
Lot Dimensions 103.0 x 100.0
Lot Area11,502 sq.ft
Zoning: M3-1
FAR as Built:2.82
Max FAR:0.0

Exclusive Agent

Jakub Nowak

The Nowak Group

Contact AgentView Setup

Sales & Transactions

AddressNeighborhoodBuilding ClassSale PriceSale Date
60-90 ELIOT AVENUEMASPETHG4$3,250,00006/28/2018
55-05 FLUSHING AVENUEMASPETHE1$4,497,07406/01/2018
58-100 56TH STREETMASPETHG1$1,950,00004/26/2018
44-05 55TH AVENUEMASPETHE1$3,240,00004/20/2018
MASPETH AVENUEMASPETHG7$1,175,00003/29/2018
59-41 MAURICE AVENUEMASPETHE1$6,670,97303/06/2018
56-16 56TH DRIVEMASPETHE9$10,250,00002/27/2018
54-15 GRAND AVENUEMASPETHG7$72,000,00001/30/2018
56-37 59TH STREETMASPETHF4$2,025,00001/18/2018
49-29 METROPOLITAN AVENUEMASPETHF9$13,800,00012/15/2015