Current Use by Public Records
- Retail properties & Spaces
Property Details for 4013-4015 Broadway
- Property type
- Retail properties & Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional four-story mixed-use building, located at 4013-4015 Broadway in Astoria, Queens, presents a compelling investment opportunity. The 13,900 square foot property boasts a strong 6.40% cap rate and a substantial net operating income (NOI) of $422,537, based on a current 100% occupancy. The building comprises two ground-floor retail units, each with established, long-term tenants (one with a 10-year lease, the other with a 7-year lease, both recently renewed). Above the retail space are ten residential apartments, offering a diverse mix of studio, one-bedroom, and two-bedroom units, including two penthouse units. All apartments feature individual PTAC heating and air conditioning units. Situated at the high-traffic intersection of Broadway and Steinway, this property benefits from excellent visibility and accessibility. The convenient proximity to subway lines ensures easy access to mass transit for both residents and customers. The property sits on a 5,000 square foot lot and is zoned R7-1, C2-4. The asking price is $6,600,000, representing a price per square foot of $475. This value-add opportunity offers significant potential for future appreciation and strong cash flow. The building previously benefited from a 421A tax exemption.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9184
- Latitude
- 40.7589
