11024-11028 Merrick Blvd Queens, NY 11433
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High-yield, renovated multifamily with parking
Property size:
6,658 SFProperty Features for 11024-11028 Merrick Blvd
General Information
- Property type
- Individual retail properties
- Square Feet
- 6,658 SF
Building Details
- Year Renovated
- 2020
- Buildings
- 3
- Stories
- 2
- Units
- 9
Listing Agency: Schuckman Realty Inc Listing Agent: Baruch Edelkopf
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional Queens, NY investment presents a rare opportunity to acquire a fee-simple, mixed-use property assemblage. Comprising three buildings totaling 6,658 square feet on a 6,648 square foot lot, this property boasts nine units (three retail spaces and six residential units), all currently 100% occupied. Recent renovations (2020) enhance the value and appeal. The property features a gated parking lot, recently paved and leased to a construction company, providing additional income. Two vacant residential units offer immediate upside potential, with lease offers already in hand at $2,158 per month each. Located at 11024-11028 Merrick Blvd, Queens, NY 11433, this prime corner location benefits from excellent public transportation access via multiple bus lines and proximity to major transportation hubs. The property is zoned R5D, C2-4, and offers substantial air rights (6,638 sq ft). The asking price is $2,900,000, representing a 6.31% cap rate. This is a turn-key investment with strong cash flow and significant upside potential. The property is protected by tax class.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.7824904
- Latitude
- 40.6953149
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FAQs
What type of property is this?
Individual retail property - High-yield, renovated multifamily with parking
Where is this individual retail property located?
The property is located at 11024-11028 Merrick Blvd Queens, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Fee-simple mixed-use assemblage in Queens, NY, totaling 6,658 sq ft on a 6,648 sq ft lot.; Nine units (three retail, six residential), 100% occupied, with recent (2020) renovations.; Tax-class protected.
