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    11024-11028 Merrick Blvd Queens, NY 11433

    Sponsored
    For Sale
    $2,900,000

    High-yield, renovated multifamily with parking

    Property size:
    6,658 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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 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

    HighLights

    • 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.
    • Gated, paved parking lot leased to a construction company, generating additional income.
    • Prime corner location in high‑density Queens, offering excellent public transportation access and substantial air rights (6,638 sq ft).
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    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.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11024-11028 Merrick Blvd Queens, NY 11433
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