Welcome to the heart of Downtown Flushing, where urban convenience meets prime real estate at the bustling intersection of Northern Blvd & Farrington St. This 2460 sqft commercial building, extensively renovated in 2014, stands prominently on the corner, currently serving as a dynamic dentist office. Boasting a modernized elevator servicing all floors, the property features three full bathrooms, one on each level, ensuring maximum functionality and accessibility. Designed for comfort and efficiency, the building incorporates three new split systems on each floor, providing state-of-the-art heating and air conditioning. The potential rental income of $11, 500 enhances the attractiveness of this investment opportunity. What sets this property apart is its substantial Floor Area Ratio (FAR) of 2. 0, allowing for an additional 4, 920 sqft of buildable space. This strategic advantage opens the door for future expansion or redevelopment, maximizing the property's potential. Zoned for both R6 and C2-2, this versatile building offers a range of possibilities for various businesses. The vibrant location ensures high visibility and foot traffic, making it an ideal spot for commercial ventures. Whether you envision continuing its current use or exploring new possibilities, this property in the heart of Flushing presents a unique opportunity for investors and entrepreneurs alike. Don't miss the chance to make your mark in this thriving urban center.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,450,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,960,000 | $1,960,000 | $1,960,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
Monthly Tax Payment | $2,403 | $2,403 | $2,403 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,522 | $11,594 | $16,145 |
Total Monthly Payment | $13,050 | $14,122 | $18,673 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.