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Mixed-Use

10-30 Neilson Street

10-30 Neilson St, Queens, NY 11691

Listing Price: $6,800,000

Cap Rate
5.60%
Number of Units
15
Occupancy
100.0%
Price/Unit
$453,333
Price/Gross SF
$341.25
Gross SF
19,927

Investment Overview

THE OFFERING Marcus & Millichap is pleased to offer the following opportunity located in Far Rockaway. 10-30 Neilson Street is located between Dinsmore Avenue and Cornaga Avenue, nearby the A train. The property consists of 15 apartments recently constructed in 2011. T H EO P P O R T U N I T Y 15 Year Tax Abatement: The property is currently benefiting from a 15-Year 421-A Tax Abatement which ends in 2028. The abatement allows an investor to benefit from rent growth while being protected from large increases in expenses. Additionally, after the abatement has phased there is an opportunity to deregulate the apartments. The Premier Location: Centered in the middle of Far Rockaway just off of the main Mott Ave corridor, you are only minutes away from the Far Rockaway A Subway Line and the Far Rockaway LIRR stop. The neighborhood has a strong Jewish presence and history and is walking distance to both Chabad Lubavitch and Siach Yitzchok. Tenants benefit due to the proximity of these establishments and ultimately, the building acts as a transition residence into 5 towns. Luxury Amenities: The buildings features a parking lot in the rear of the property, apartment balconies, storage units in the basement, individual hot water heaters and boilers as well as washer and dryers in every unit. High End Finishes: Residences maximize natural sun and air with no immediate buildings adjacent to the property and units feature high end finishes as seen on page 7.

Investment Highlights

  • 15 Total Units and 19,927 Total Square Feet
  • $341 Price/SF, 5.6% Cap Rate, 14.8 GRM, and 6.64% Pro Forma Cash on Cash
  • $5,740 Projected Taxes
  • A Train Nearby

Exclusively Listed By

Listing Price: $6,800,000

Cap Rate
5.60%
Number of Units
15
Occupancy
100.0%
Price/Unit
$453,333
Price/Gross SF
$341.25
Gross SF
19,927

Investment Highlights

  • 15 Total Units and 19,927 Total Square Feet
  • $341 Price/SF, 5.6% Cap Rate, 14.8 GRM, and 6.64% Pro Forma Cash on Cash
  • $5,740 Projected Taxes
  • A Train Nearby

Investment Overview

THE OFFERING Marcus & Millichap is pleased to offer the following opportunity located in Far Rockaway. 10-30 Neilson Street is located between Dinsmore Avenue and Cornaga Avenue, nearby the A train. The property consists of 15 apartments recently constructed in 2011. T H EO P P O R T U N I T Y 15 Year Tax Abatement: The property is currently benefiting from a 15-Year 421-A Tax Abatement which ends in 2028. The abatement allows an investor to benefit from rent growth while being protected from large increases in expenses. Additionally, after the abatement has phased there is an opportunity to deregulate the apartments. The Premier Location: Centered in the middle of Far Rockaway just off of the main Mott Ave corridor, you are only minutes away from the Far Rockaway A Subway Line and the Far Rockaway LIRR stop. The neighborhood has a strong Jewish presence and history and is walking distance to both Chabad Lubavitch and Siach Yitzchok. Tenants benefit due to the proximity of these establishments and ultimately, the building acts as a transition residence into 5 towns. Luxury Amenities: The buildings features a parking lot in the rear of the property, apartment balconies, storage units in the basement, individual hot water heaters and boilers as well as washer and dryers in every unit. High End Finishes: Residences maximize natural sun and air with no immediate buildings adjacent to the property and units feature high end finishes as seen on page 7.

Exclusively Listed By

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