1505 132nd St
College Point, NY 11356

• Unit Size: 6,500 SF
• Condo Use: Industrial
• Price: $2,100,000 USD
• Sale Type: Owner User
• Price/SF: $323.08 USD

Description

2 Story Industrial Condominium Warehouse with Two Units: Upper Level-3000sf: 5 Offices,2 restrooms & Elevator-Pays $4500 p/m
Lower Level Warehouse- 3500 sf: Rolldown gate, 19 ft ceilings, 2 restrooms, one office.-Pays $7800 p.m + 3.5% annual escalations
12 Exclusive Parking Spaces  on site.

Sale Notes

REDUCED PRICE-MUST SEE!!-MOTIVATED SELLER-1505 132nd Street is a 6,500-square-foot flex use and industrial condo in College Point, New York, within the Northeast Queens submarket. The property currently has two tenants in place and offers the perfect value-add opportunity. Totaling 6,500 square feet, 1505 132nd Street is comprised of two floors with 3,500 square feet of warehouse space on the ground floor and 3,000 square feet of office space on the second story. Features of the property include an elevator, conference room, renovated restrooms, a reception area, and five offices. The warehouse space boasts tall 19-foot ceilings. Additionally, there are two separate 208v 3-phase power feeds, one for the first floor and one for the second story; these are connected to Con Ed via two new "smart" meters along with the natural gas. Located within the busy College Point Plaza, the industrial condo is positioned in a prominent 80,000 square foot industrial condo park. The space is perfect for light manufacturing, distribution, warehouse use, and other industrial possibilities. With one tenant occupying 3,500 square feet of space and office tenant occupying the rest, the property brings in income of $147,600 per year.


1505 132nd Street is well-located with Whitestone Expressway less than a mile away, making commuting to and from the property a breeze. The surrounding area boasts impressive demographics, as well. Within five miles, the population is over 1.62 million, and daytime employment is 358,945, with 75,282 working in the trade transportation and utilities or manufacturing industries. The average household income within a five-mile radius is $84,214, providing a good quality of life for those in the area. This industrial condo is also located in a strong local market. Northeast Queens is a large submarket with a low 4.1% vacancy rate and excellent rent growth of 5.6% in the last 12 months.
Property tours are available by appointment only, please contact the listing broker to schedule.