- Two story walk-up mixed-use corner building consisting of two residential units & a retail unit on the ground floor.
- Each apartment is 2 bedrooms and 1 bathroom.
- The retail space has a back office with its own entrance.
- There is a 300 SF attached garage that was being used as a studio & can be converted into an additional apartment or retail unit.
- Price ~ $930,000
- Projected Cap Rate ~ 7.8%
111th Avenue Queens, NY 11420
$930,000.00
Details
- Two story walk-up mixed-use corner building consisting of two residential units & a retail unit on the ground floor.
- Each apartment is 2 bedrooms and 1 bathroom.
- The retail space has a back office with its own entrance.
- There is a 300 SF attached garage that was being used as a studio & can be converted into an additional apartment or retail unit.
- Price ~ $930,000
- Projected Cap Rate ~ 7.8%
Additional Information
| Asset Type | Mixed-Use |
|---|---|
| City | Queens |
| Neighborhood | South Ozone Park |
| Broker | Sadya Liberow |
| Price | $930,000 |
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J51 Abatement in place, 15 years remaining. New tiles, bathrooms, kitchen works, lighting, etc. Boiler installed in each unit, not under Landlord maintenance. Easy access to Jackie Robinson Expy, Van Wyck Expy and public transportation
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Property is currently 100% leased
Strong retail corridor with heavy foot and car traffic on both sides of the streets
All tenants have 3% annual rental increases
