375 Beach 92nd Street

$2,800,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Calling all investors, restaurateurs, developers, and end users! Here's your chance to be your own landlord and invest in what you own. We present an extraordinary commercial property on the stunning Jamaica Bay shoreline in beautiful Rockaway Beach. Whether you're looking for a 100% turnkey operation to start making money right away or dreaming of exploring different culinary concepts, this is your canvas. The fully-equipped kitchen boasts multiple walk-ins, refrigeration units, proper hooding,...Calling all investors, restaurateurs, developers, and end users! Here's your chance to be your own landlord and invest in what you own. We present an extraordinary commercial property on the stunning Jamaica Bay shoreline in beautiful Rockaway Beach. Whether you're looking for a 100% turnkey operation to start making money right away or dreaming of exploring different culinary concepts, this is your canvas. The fully-equipped kitchen boasts multiple walk-ins, refrigeration units, proper hooding, and ventilation, along with multiple cooking stations. It's adaptable to suit any culinary style, making your restaurant vision come to life. Enjoy an outdoor deck, unbeatable location in the heart of the busiest area in Rockaway Beach, and proximity to transportation hubs. This is a rare opportunity to own waterfront property in a prime NYC attraction area. This long-established restaurant is one of the busiest in the Rockaway Peninsula, with a proven income-generating track record. It's a well-known destination for food, entertainment, and a hangout spot for both locals and tourists, ensuring year-round profitability. The property offers a waterfront view and pier access to the bay, opening up possibilities for water activity-related businesses like sunset dining cruises. A lease is already in place for a jet ski business, providing extra income. Plus, there's a solar generator in place to help save on utility bills. Additionally, an upstairs unit has been renovated and is ready to be used as the owner desires. Over $1 million has been invested in both the property and the business, ensuring a fair price for this incredible opportunity, with a 5.8% cap rate, this investment is bound to make waves in your portfolio. Don't miss out on this chance to own a piece of Rockaway Beach's thriving culinary and waterfront scene. Secure your investment future today!
  1. Listed by Naruetai Tongsomboon • RE/MAX Elite

Amenities

  • Deck
  • Parking Included
LISTING UPDATED: 10/01/2024 04:17 PM

Property Details for 375 Beach 92nd Street

StatusActive
MLS ID478127
Days on Market405
Taxes$38,297 / year
Maintenance-
Min. Down Pymt-
Total Rooms-
Compass TypeMixed Use
MLS TypeMixed Use
Year Built-
Lot Size5,637 SF
CountyQueens County

Building Information for 375 Beach 92nd Street

Stories-Residences-Year Built-Lot Size5,637 SFBuilding Age-Building Type-

Property Information for 375 Beach 92nd Street

Summary
Location and General Information
  • Block: 16109
  • Number Of Stories: 0
  • Cross Street Name: Beach 92nd St
  • Cross Street Name: Beach Channel Dr
  • Zoning: R41
  • Roof: Shingle
  • Water Front Present YN: Yes
Parking
  • Parking Attributes: None
  • Parking Feature Single: None
Taxes and HOA Information
  • Financing: 1031 Exchange, Bank Mortgage, Cash, Lease/Purchase
  • Tax Amount: 38297.0
  • Gross Expense: 953965.0
  • Gross Income: $1,275,020.00
  • Cap Rate: .11%
  • Inventory Expense: 182000.0
  • Gross Lease: 50000.0
Property
Lot Information
  • Lot Dimensions: 36' x 159'
  • Yard: Other
  • Lot Number: 43
  • Lot Size Irregular YN: No
  • Lot Size Length: 159
  • Lot Size Width: 36
Property and Assessments
  • Commercial Condo YN: No
Utilities
  • Heat Delivery: Hot Water
  • Heating Fuel: Gas
  • Hot Water: Other
  • Utility Expense: 25142.0
  • Fuel Expense: 9300.0
Interior and Exterior Features
Interior Features
  • Basement Amenities: None
  • Commercial Features Interior: Kitchen, Restrooms - Public, Restrooms - Staff
  • Foundation Details: Other
  • Flooring: Other
  • Unit Count: 1
  • Lavatories: 2
  • Construction Materials: Wood Frame
  • Electric: 110 V, 220 V
Exterior Features
  • Exterior: Siding
  • Commercial Features Exterior: Other
Multi Family
Multi-Family Information
  • Building Type: Detached
Unit 1
  • Unit Baths Full: 2
  • Unit Baths Half: 1.0
  • Unit Baths Three Quarter: 0.0
  • Unit Baths Total: 3
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Floor: 2
  • Unit Rooms Total: 5
  • Unit Status: Owner Occupied
  • Unit Unit Type: 2 Bedrooms
Agent
Agent Information
  • Net Operating Income: 321055.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 20500.0
  • Owner Occupied: Yes
  • Rent Income: 50000.0

Property History for 375 Beach 92nd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 375 Beach 92nd Street

This home is within New York City Geographic District #27.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 6 to 12
Public - 9 to 12
Rating
School
Distance
P.S. 183 Dr Richard R Green
PublicPK to 8

Channel View School For Research
Public6 to 12

Rockaway Collegiate High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Neighborhood Map and Transit

Similar Homes

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375 Beach 92nd Street is a mixed use property for sale in Hammels. This property was listed for sale on November 12, 2023 by RE/MAX Elite, it's currently listed at $2,800,000. This listing's school district is New York City Geographic District #27. Nearby schools include P.S. 183 Dr Richard R Green, Rockaway Park High School For Environmental Sustai and Channel View School For Research. 375 Beach 92nd Street is a 0-bed, 0-bath, mixed use property.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of RE/MAX Elite

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.