64-29 Myrtle Ave, Queens, NY 11385
Two-story mixed-use building in prime Ridgewood location.
- Added:
- Mar 8, 2024
- Days on Market:
- 852
- Last Refresh:
- May 12 at 8:49 pm
Property Features for 64-29 Myrtle Ave
General Information
- Standard status
- Active
- Size
- 4,400 SF
- Property subtype
- Mixed Use
Listing office Highcap Group
Listing date Mar 8, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Highcap Group
HighLights
- 8.6% CAP Rate makes this an excellent investment opportunity
- Prime Ridgewood, Queens Location
- Benefit from 2 Free Market Apartments (delivered vacant)
- Mixed‑Use Building featuring 2 Apartments, 1 Office, and 1 Store
- 4,400 SF Triangle Shaped Property with Frontage on All Sides
- Store Leased in 7/2022 with 3% Annual Increase
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $221.8k | $50.40 |
| − Vacancy | −$28.6k | −$6.50 |
| EGI | $193.2k | $43.90 |
| − OpEx | −$48.3k | −$10.97 |
| NOI | $144.9k | $32.92 |
Alternative Uses
Current Use by Public Records
Map
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8892
- Latitude
- 40.7008
