64-29 Myrtle AveQueens, NY 11385

Property Details for 64-29 Myrtle Ave

Property size (Sq ft)

4,400 SF

Property type

Mixed-use properties

Property subtype

Other mixed-use properties

Description

This exceptional mixed-use property, located at 64-29 Myrtle Avenue in the vibrant Ridgewood neighborhood of Queens, New York, presents a compelling investment opportunity. The two-story building boasts a total of 4,400 square feet situated on a uniquely shaped 2,400 square foot lot offering frontage on all sides. The property is currently classified as 2A and features a strong 8.54% cap rate, generating a net operating income (NOI) of $170,800. The building comprises two free-market apartments, currently vacant upon delivery, one office space, and one retail store. The retail space is secured by a 10-year lease, commencing July 2022, with a favorable 3% annual rent increase. The asking price is $1,999,000, translating to $454.32 per square foot. This property offers significant upside potential due to its prime location, strong cash flow, and the flexibility afforded by its mixed-use zoning (R5D). The 100% occupancy rate further underscores the property's desirability and potential for long-term growth. This is a rare opportunity to acquire a well-positioned, income-generating asset in a thriving Queens neighborhood.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7012

Longitude

-73.8913

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.