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97-14-97-20 Rockaway Beach Blvd
Rockaway Beach, NY 11693 Rockaway Beach

$3,550,000

Motel For Sale  •  7,137 Sq Ft

Property Details

  • Property Type Motel
  • Total Building Size 7,137 Sq Ft
  • Lot Size 0.28 ac
  • Building Class B
  • Year Built 1930
  • Cap Rate 5.50 %
  • Zoning R5B / C1-3
83 Transit Score
81 Walk Score

Description

Prime corner location in the heart of Rockaway Beach.  Located at the corner of Beach 98th Street and Rockaway Beach Blvd, this property is situated one block from the subway, and a block from the beach, with the popular beach concession stands.  

The package is comprised of a mixed-use building and adjacent development lot.  Currently 1 tax lot, we are in the process of subdividing the parking lot to create a separate tax lot for development.  The property can be purchased separately or together.  

The Mixed-use building is 7,137 SF comprised of 2 retail units on the ground floor and 9 short term apartments on the second floor.  On the first floor is RBQ – a bar and barbecue restaurant.  RBQ occupies the majority of the ground floor space, along with a small Chinese take-out restaurant, Xing Xing Chinese Restaurant.  

Currently utilized as a parking lot, ownership is in the process of subdividing a 50’ x 100’ development site, allowing for 6,750 buildable SF of residential development, and 10,000 buildable SF with the community facility bonus.  Ownership may be able to provide additional buildable square footage in air right.

Highlights

Next to Subway
Next to Beach
Prime Corner

Property Flyers

Financial Summary

Cap Rate: 5.50 %

Major Tenants

Tenant SF Occupied Lease End Date
Rbq
Rockaway Real Estate Holding Co LLC 3,000 SF

Public Transportation

Commuter RailDriveWalkDistance
Far Rockaway Station Commuter Rail (Far Rockaway Branch) 9 min - 4.3 mi
Inwood Station Commuter Rail (Far Rockaway Branch) 9 min - 5.1 mi
Transit/SubwayDriveWalkDistance
Beach 98 Street Transit Stop (A, Rockaway Park Shuttle) 1 min 3 min 0.1 mi
Beach 90 Street Transit Stop (A, Rockaway Park Shuttle) 2 min 9 min 0.4 mi
Beach 105 Street Transit Stop (A, Rockaway Park Shuttle) 2 min 10 min 0.5 mi
AirportDriveWalkDistance
John F. Kennedy International Airport 17 min - 11.0 mi
La Guardia Airport 25 min - 17.8 mi
Newark Liberty International Airport 54 min - 28.7 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Adam Ecker 914-512-0947 Davada Property Group
Adam Ecker 914-512-0947 Davada Property Group