91-08 Sutter Ave Ozone Park, NY 11427

This free market mixed-use building is located in the heart of Ozone Park, two blocks from Cross Bay Blvd and minutes from JFK Airport. The property features excellent signage and great exposure. It includes two lots, smart meters, and a courtyard. The building was renovated in 2020 and 2022. It has 19 feet of frontage on Sutter Avenue and 24 feet of frontage on Chicot Road. The property includes a 4-bedroom free market apartment with a terrace. High 9-foot ceilings are present throughout the building. Additional features include a security system, basement, two fireplaces, an outdoor terrace, new LED lighting, and central air conditioning. There are six parking spaces in a private gated lot. Separate meters are installed. The property is zoned R4-1. Neighbors include Starbucks, UPS, Nissan, The Home Depot, Stop & Shop, LA Fitness, Safeguard Self Storage, Marshalls, Raymour & Flanigan, Karako Suits, Mattress Firm, Dollar Tree, and IHOP. The property offers upside potential and could be suitable as a development site or a business location. The property's income includes $60,000 annually from Regency Grand Ballroom, $42,000 annually from the 2nd-floor apartment (1720 SF), $18,000 annually from the lower level (available), and $8,600 annually from parking. Pro forma gross income is $128,600 annually. Total expenses are $13,787 annually, resulting in a net operating income (NOI) of $114,813 annually.