71-08 Fresh Pond Rd Queens, NY 11385

Listing agency Highcap Group

Listed by Anthony Volman · License #NY

Source Crexi

Added: Feb 25, 2024 Updated: Jul 10 at 3:42PM Checked: Jul 21 at 7:06AM

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Investment Insights

Based on property information with market context.

Located in Ridgewood, Queens, this mixed-use property is situated just off Myrtle Avenue, near national retailers and the M subway line. The building encompasses 3,300 square feet, with an additional 1,100-square-foot basement and a rear yard. It features one store and two free-market apartments. The property is delivered 100% vacant and was previously owner-occupied. Classified as tax class 2A, the roof and electricity were renovated in 2023. The projected gross income is $149,000, with a net income of $132,000, representing a 7.5% CAP Rate.

Key Highlights

• Delivered 100% Vacant, offering immediate occupancy or rental income potential.
• High projected Net Income of $132k, representing a 7.5% CAP Rate.
• Prime Ridgewood Queens location near Myrtle Avenue and the M subway line.

Property Analytics

Property Profile Location Intelligence

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FAQs

What type of property is this?

Mixed-use property - Mixed-use building in prime Ridgewood location, delivered vacant.

Where is this mixed-use property located?

The property is located at 71-08 Fresh Pond Rd Queens, NY.

What is the asking price?

The asking price for this property is $1,759,000.

What are key features of this property?

This property features: Delivered 100% Vacant, offering immediate occupancy or rental income potential.; High projected Net Income of $132k, representing a 7.5% CAP Rate.; Prime Ridgewood Queens location near Myrtle Avenue and the M subway line.