8707 Grand Ave
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8707 Grand Ave
2,290 SF 67% Leased Retail Building Elmhurst, NY 11373 $2,267,952 CAD ($990 CAD/SF) 4.50% Cap Rate
Executive Summary
Prime location. Heart of Elmhurst. In front of Q58, 59 Bus station. Steps away from Queens Blvd & Broadway corner. 1 Block to M, R station Broadway Queens Blvd Station. Existing retail & commercial tenants with excellent business status. Total 3 units, retail c of o for basement, retail c of o for street level, professional office for 2nd Fl
Financial Summary (Pro forma - 2021) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$87,600
|
$38.25
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$87,600
|
$38.25
|
| Taxes |
$16,363
|
$7.15
|
| Operating Expenses |
$2,835
|
$1.24
|
| Total Expenses |
$19,198
|
$8.38
|
| Net Operating Income |
$68,401
|
$29.87
|
Financial Summary (Pro forma - 2021)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $87,600 |
| Annual Per SF | $38.25 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $87,600 |
| Annual Per SF | $38.25 |
| Taxes (CAD) | |
|---|---|
| Annual | $16,363 |
| Annual Per SF | $7.15 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,835 |
| Annual Per SF | $1.24 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $19,198 |
| Annual Per SF | $8.38 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $68,401 |
| Annual Per SF | $29.87 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,290 SF
Building Class
C
Year Built
1989
Price
$2,267,952 CAD
Price Per SF
$990 CAD
Cap Rate
4.50%
NOI
$102,058 CAD
Percent Leased
67%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.05
Land Acres
0.05 AC
Zoning
R6/C2-2
Frontage
16 ft on Grand Ave
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- G & G Grocery
- -
- 1,530 SF
- -
- May 2021
- Golden Bull Management
- -
- 760 SF
- -
- Apr 2026
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| G & G Grocery | - | 1,530 SF | - | May 2021 | ||
| Golden Bull Management | - | 760 SF | - | Apr 2026 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 2nd Floor
- 750 SF
- Office
- -
- Now
| Space | Size | Space Use | Position | Available |
| 2nd Floor | 750 SF | Office | - | Now |
2nd Floor
| Size |
| 750 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
Walk Score ®
Walker's Paradise (99)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 02477-0019 | Total Assessment | $203,861 CAD (2024) |
| Land Assessment | $48,477 CAD (2024) | Annual Taxes | $16,363 CAD ($7.15 CAD/SF) |
| Improvements Assessment | $155,383 CAD (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Number
02477-0019
Land Assessment
$48,477 CAD (2024)
Improvements Assessment
$155,383 CAD (2024)
Total Assessment
$203,861 CAD (2024)
Annual Taxes
$16,363 CAD ($7.15 CAD/SF)
Tax Year
2021
-
Gordon Tam -
CHASE Global Realty Corp.
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