11024-11028 Merrick Blvd Queens, NY 11433
- Retail properties
- 6,658 SF
Current Use by Public Records
- Retail properties
Property Details for 11024-11028 Merrick Blvd
- Property size
- 6,658 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.7825
- Latitude
- 40.6953
