PROPERTY NEEDS A FULL GUT RENOVATION Extra large, 27 feet wide, Investor special, vacant and ready for rehab. Near LIRR and broadway junction train station and future stop of the interboro express train line. Plans were approved for 5BR/2BA over 5BR/2BA over commercial. Can be full commercial, zoning M1, current residential use grandfathered in. There's a permit for an advertising sign on the side wall for additional income. Conservatively projected rent of $12,000/month, $144,000/yr + $10,000 advertising, NOI over $120,000. Taxes very low. Estimated rehab cost of $250-300k, great investment. Major development coming across the street, 600+ apartments and 850,000 square feet of office. Additional building with 120+ apartments being built a few blocks away, the area is about to boom! No brokers please
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