69-38 Myrtle AVE new Save Request In-Person Tour Request Virtual Tour
Glendale,NY 11385
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 867157
Rental Info No
Annual Tax Amount $9,000
Property Sub-Type Mixed Use
Source onekey2
Property Description
Rare Mixed-Use Opportunity in Prime Ridgewood Location!
Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2,024 sq ft on a 23' x 88' lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants.
The Commercial space ( currently rented at $3,500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities.
Projected pro forma gross income of $146,700/year, with estimated expenses of $13,500/year, brings a potential net income of $133,200, yielding a 7% Cap rate at full market rents.
Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can't miss opportunity in on of queens' most desirable mixed-use corridors.
Location
State NY
County Queens
Rooms
Basement Finished
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available None
Building
Sewer Public Sewer
Water Public
Structure Type Unknown
Others
Special Listing Condition None