Mixed-Use Building with
For Sale
$1,299,000
Pending
6410 Myrtle Avenue, Glendale, NY 11385
A ground-floor nail salon occupies the commercial space beneath two residential apartments.
Property Size4,400 SF
Days on Market9
Property Features for 6410 Myrtle Avenue
General Information
Standard status
Pending
Size
4,400 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,637
Amenities
Unfinished
3
Yes
6
Other
No
Public
4400
Building Details
Building Size
4,400 SF
Year Built
1910
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Realty Central
(516) 703-2918
Listed By:
Josephine Nicolosi
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:59PM
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 Realty Central
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1910, this brick mixed-use property combines a ground-floor nail salon with two upper-level apartments. Each apartment has three bedrooms and six rooms, with approximately 1,100 square feet per unit. One apartment has been recently updated, while the other is older and in good condition. Both apartments are occupied; neither has a lease. The salon has operated at the property for more than 35 years and has four years remaining on its lease.
An unfinished basement extends across the building, and the salon uses the backyard. The property is located on Myrtle Avenue in Glendale, Queens.
An unfinished basement extends across the building, and the salon uses the backyard. The property is located on Myrtle Avenue in Glendale, Queens.
Key Highlights
- Two three‑bedroom, six‑room apartments, approximately 1,100 square feet each
- Ground‑floor nail salon with four years remaining on its lease
- One apartment is newly updated; the other is older and in good condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,555
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,151,100
$2.2M
Cap Rate 7%
$1,536,500
$1.5M
Cap Rate 9%
$1,195,056
$1.2M
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$203.3K $46.20/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$195.6K $44.44/SF
− OpEx
−$88.0K −$20.00/SF
NOI
$107.6K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,151,100
Cap Rate 7%
$1,536,500
Cap Rate 9%
$1,195,056
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,555 @ 7.0% cap · market cap 8.28%
Second Best
Retail
$1.12M
$981.8K – $1.31M
NOI $78,540 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $227,061 @ 7.0% cap · market cap 17.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor nail salon occupies the commercial space beneath two residential apartments.
Where is this mixed-use property located?
The property is located at 6410 Myrtle Avenue Glendale, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two three‑bedroom, six‑room apartments, approximately 1,100 square feet each; Ground‑floor nail salon with four years remaining on its lease; One apartment is newly updated; the other is older and in good condition
