5-46 50th Avenue, Queens, NY 11101

This mixed-use property is located in Long Island City, near Vernon Boulevard and the East River waterfront. The building has approximately 5,190 square feet of space on a 2,500-square-foot lot. The property is configured as a 25-foot-wide building consisting of ground-floor retail, a rear artist studio, and four free-market residential apartments above. The property's configuration allows for retail income while preserving residential upside. The building width and layout provide efficient residential floor plates. The four residential units are fully free-market and currently vacant, presenting an opportunity to lease at prevailing market rents. The commercial tenancy provides cash flow while preserving future flexibility for repositioning. The property is located within an M1-4 / R6B zoning district, which supports continued mixed-use occupancy and offers strategic long-term flexibility. Investors may consider multiple strategies, including holding and stabilizing for cash flow, enhancing residential revenue, repositioning the commercial component upon lease expiration, or evaluating longer-term redevelopment potential. The property generates an in-place gross revenue of $326,724, with expenses of $39,167, resulting in an in-place net operating income of $287,557. Upon stabilization of the residential units to market levels, the pro forma gross revenue is $342,320, with a pro forma net operating income of $303,160, supporting a pro forma capitalization rate of approximately 5.5%. The building dimensions are 25 ft x 42 ft. The building class is S3 Primarily Four-Family with One Store & Office.