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
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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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