Property Description

Calling All Investors, Developers & End-Users!!! 1,220 Sqft. Free Standing Restaurant Building On A 6,000 Sqft. Lot In Island Park!!! The Property Features Excellent Signage, Great Exposure, High 14' Ceilings, 13 Parking Spaces In A Private Parking Lot, Restaurant (421.14) Zoning, 3 Phase Power, Strategically Placed Curb Cut, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Island Park On Busy Austin Blvd. Just Minutes From The Long Beach Bridge!!! The Property Has 60' Of Frontage On Busy Austin Blvd.!!! This Section Of Austin Blvd. Has A Daily Traffic Count Of 40,200+ Vehicles Per Day!!! Neighbors Include Costco, Stop & Shop, Public Storage, Costello's Ace Hardware, King Kullen, Dunkin', Wendy's, McDonald's, Trader Joe's, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!Income: Deli: $72,000 Ann.; 3% Ann. Inc.; Lease Exp.: 8/18/35 + 5 Year Option.Gross Income: $72,000 Ann.Expenses:Gas: $0 Ann. Electric: $0 Ann.Insurance: $2,300 Ann.Maintenance & Repairs: $250 Ann.Water: $0 Ann.Taxes: $13,354.87 Ann. Total Expenses: $15,904.87 Ann. Net Operating Income (NOI): $56,095.13 Ann. (7.02% Cap!!!)

Property Features