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The subject property is the Flushing Marina. It is approx. 26,000 sqft M1-1 zoned lot, with a 7767sqft building, and 50 boat slips. The 1st floor of the building is warehouse space, and the 2nd floor has a legal residential apartment called a "caretakers" apartment on the C of O, which was updated only 10 years ago in 2011. Currently, the owner occupies the building and leases out the Marina for $5000/ month. That tenant then operates the Marina for a profit. No lease in place for the Marina tenant. Current land and parking rates in Queens for M1-1 zoned property are $12 to $15/ sqft. Even without applying a rental rate to the building, just the 26,000sqft of land and the Marina can generate $372,000/ year in income. The property is great for an industrial investor or an end user for truck parking and/or material storage. First time on the market in over 50 years. Also has riparian rights.
Listing Price $5,000,000
Listing ID 3340588
Property Type Business Opportunity
County Queens
Listing ID 3340588
Sold For$5,000,000
Status Closed
Sold Date 11/09/2022
Acres 0.520
County Queens
Property Type Business Opportunity
Property Sub Type Mixed Use

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Win Morrison Realty

63 John Street
Kingston, NY 12401
Kingston Residential - Kingston Commercial: 845-339-9999 - Woodstock Tinker Street: 845-679-9444 - Woodstock Old Forge: 845-679-2929 - Saugerties: 845-246-3300 - Phoenicia: 845-688-2929
© 2023 OneKey MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of OKMLS. Real estate listings held by IDX Brokerage firms other than Cyber Guardian Consulting Group, LLC. are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Information provided is deemed reliable but not guaranteed. Data last updated: Thursday, January 26th, 2023 at 04:24:41 PM.
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Listing courtesy of Alex Baron with Keller Williams Rlty Landmark 718-475-2700
Data services provided by IDX Broker

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