Active

375 Beach 92nd Street

Rockaway Beach NY, 11693

$2,800,000


Active

Multi-family

Built in 1910

Calling all investors, restaurateurs, developers, and end users! Here's your chance to be your own landlord and invest in what you own. We present an extraordinary commercial property on the stunning Jamaica Bay shoreline in beautiful Rockaway Beach. Whether you're looking for a 100% turnkey operation to start making money right away or dreaming of exploring different culinary concepts, this is your canvas. The fully-equipped kitchen boasts multiple walk-ins, refrigeration units, proper hooding, and ventilation, along with multiple cooking stations. It's adaptable to suit any culinary style, making your restaurant vision come to life. Enjoy an outdoor deck, unbeatable location in the heart of the busiest area in Rockaway Beach, and proximity to transportation hubs. This is a rare opportunity to own waterfront property in a prime NYC attraction area.

This long-established restaurant is one of the busiest in the Rockaway Peninsula, with a proven income-generating track record. It's a well-known destination for food, entertainment, and a hangout spot for both locals and tourists, ensuring year-round profitability. The property offers a waterfront view and pier access to the bay, opening up possibilities for water activity-related businesses like sunset dining cruises. A lease is already in place for a jet ski business, providing extra income. Plus, there's a solar generator in place to help save on utility bills.

Additionally, an upstairs unit has been renovated and is ready to be used as the owner desires. Over $1 million has been invested in both the property and the business, ensuring a fair price for this incredible opportunity, with a 5.8% cap rate, this investment is bound to make waves in your portfolio. Don't miss out on this chance to own a piece of Rockaway Beach's thriving culinary and waterfront scene. Secure your investment future today!

478127

MLSⓇ ID

August 8, 2024

Listed

November 25, 2024

Updated

Map

375 Beach 92nd Street
Rockaway Beach NY, 11693

Interior Features

Total Stories

3


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Hot Water, Natural Gas

Exterior/Building Features

Lot Size

0.13 Acres


Lot Features

Waterfront


Roof

Shingle

Other Property Details

Area Name

Queens


Taxes

$38,297


Tax Frequency

Annually


Days on Market

324


Garage

No


View

No


County

Queens


Pool

No


Waterfront

Yes


Zoning

R41

Listing History

Date

Event

Price

6/21/2024

Price change

$2,800,000

-13%

5/28/2024

Price change

$3,200,000

-18%

4/11/2024

Price change

$3,886,000

11%

4/11/2024

Price change

$3,500,000

-37%

Listed by Naruetai Tongsomboon with RE/MAX Elite
Listing Contact: 7186903900 

Based on information from Brooklyn Board of REALTORS®. Data last updated 11/25/2024. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Mastura Bahrom shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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