87-97 Corona Ave Queens, NY 11373
Call to check price and availability
High-Yield Multi-Tenant Property
Property size:
2,776 SFProperty Features for 87-97 Corona Ave
General Information
- Property type
- Individual retail properties
- Square Feet
- 2,776 SF
- Class
- B
Building Details
- Stories
- 2
- Units
- 4
Listing Agency: KSR Kassin Sabbagh Realty Listing Agent: Samia Farah
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional mixed-use investment property, located at 87-97 Corona Ave in Queens, NY, presents a compelling opportunity for discerning investors. The two-story building, totaling 2,776 square feet, comprises a thriving convenience store and three additional rental units, ensuring a robust income stream. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $108,500 annually, translating to a 6.20% cap rate. The asking price is $1,750,000. The property sits on a desirable 1,420 square foot corner lot, zoned R5, offering flexibility for future development. The four units are currently leased, producing a combined annual rent of $127,800. The building's assessed value is $1,495,000, and annual property taxes are $8,000. This prime location in Elmhurst, with its high foot traffic and strong demographics, makes this a truly exceptional investment opportunity with significant potential for appreciation. The property's strong financial performance, combined with its strategic location and zoning flexibility, makes it an ideal addition to any investment portfolio. Detailed financial statements are available upon request.
Property Profile
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8765868
- Latitude
- 40.7406904
Nearby Similar for Sale
FAQs
What type of property is this?
Individual retail property - High-Yield Multi-Tenant Property
Where is this individual retail property located?
The property is located at 87-97 Corona Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: $1,750,000 asking price for a mixed-use property in Queens, NY.; Net lease investment opportunity with a 6.20% cap rate.; 100% occupancy with a Net Operating Income (NOI) of $108,500.
