Two-Story Mixed-Use
New
For Sale
$1,198,000
Pending
65-12 Myrtle Avenue, Glendale, NY 11385
Ground-floor commercial space sits below two residential apartments, with basement storage and office space.
Property Size2,625 SF
Days on Market4
Property Features for 65-12 Myrtle Avenue
General Information
Standard status
Pending
Size
2,625 SF
Zoning
R5D
Site & Location
Public Transit
Yes
Mixed-Use Components
commercial, residential
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,445
Amenities
Finished,Full,Storage Space
2
Yes
Finished, Full, Storage Space
Public
No
On Street
2625
Building Details
Building Size
2,625 SF
Buildings
1
Stories
2
Listing Agency:
(516) 703-2918
Listed By:
Matthew Dubinsky
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:52PM
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 Matthew Dubinsky
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Investment Insights
Based on property information with market context.
This two-story mixed-use property has a 1,300-square-foot commercial space on the ground floor, including a half bathroom. The full basement offers storage and office space and contains a second half bathroom. Two two-bedroom residential units occupy the upper floor.
The property is on Myrtle Avenue in Glendale, near banks, schools, supermarkets, and local shops. Q55, QM24, and QM25 bus service is accessible nearby, and Fresh Pond Road station is a 10-minute walk away for M train service.
The property is on Myrtle Avenue in Glendale, near banks, schools, supermarkets, and local shops. Q55, QM24, and QM25 bus service is accessible nearby, and Fresh Pond Road station is a 10-minute walk away for M train service.
Key Highlights
- 1,300‑square‑foot ground‑floor commercial area with a half bathroom
- Two two‑bedroom apartments on the second floor
- Full basement with storage and office space, plus a half bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,167
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,283,340
$1.3M
Cap Rate 7%
$916,671
$916.7K
Cap Rate 9%
$712,967
$713.0K
Market Conditions
NOI Build-Up for 2,625 SF
Gross rent
$121.3K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$116.7K $44.44/SF
− OpEx
−$52.5K −$20.00/SF
NOI
$64.2K $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%
$1,283,340
Cap Rate 7%
$916,671
Cap Rate 9%
$712,967
Alternative Uses
Best Use
Apartment 5plus
$916.7K
$802.1K – $1.07M
NOI $64,167 @ 7.0% cap · market cap 5.36%
Second Best
Retail
$669.4K
$585.7K – $780.9K
NOI $46,856 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,463 @ 7.0% cap · market cap 11.31%
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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,438
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space sits below two residential apartments, with basement storage and office space.
Where is this mixed-use property located?
The property is located at 65-12 Myrtle Avenue Glendale, NY.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: 1,300‑square‑foot ground‑floor commercial area with a half bathroom; Two two‑bedroom apartments on the second floor; Full basement with storage and office space, plus a half bathroom
