253 Ave X

Great investment property with excellent return! Mixed-use property located at Avenue X and 86th Street. Walk to the F train at Ave X or N train at 86th Street. Lots of foot traffic. The lot has two buildings, a restaurant at the front and a 2-story apartment at the back. The storefront has been a Chinese restaurant since 1993 with a stable customer base and income. The apartment is a 2-level house with 2 bedrooms. Both the restaurant and apartment is on a month-to-month lease and can be sold with or without the tenant. Current market rent for the store is $5,000 and the apartment is $2,500. Both tenants pay their own utilities, separate gas, electric and water meter for both tenants. Low property tax approximately $5,000 annually. Potential cap rate of 6.5%.