95-07 Roosevelt Ave Queens, NY 11372
- Retail properties
- 3,200 SF
Current Use by Public Records
- Retail properties
Property Details for 95-07 Roosevelt Ave
- Year built
- 1931
- Property size
- 3,200 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property at 95-07 Roosevelt Avenue in Jackson Heights, Queens, presents a compelling investment opportunity. The 3,200 square foot building, constructed in 1931, boasts a desirable R6, C2-4 zoning designation. The property features a vacant retail space on the ground floor, recently renovated basement, and two residential units, all currently vacant, offering immediate upside potential for the new owner. The asking price is $2,380,000, translating to a price per square foot of $743.75. A pro-forma net operating income (NOI) of $124,982 projects a 5.25% capitalization rate. The building sits on a 1,600 square foot lot and benefits from its incredibly convenient location, just one block from the 7 train's Junction Boulevard station, providing easy access to public transportation. Its proximity to major highways, numerous shops, and restaurants further enhances its appeal. This property is ideal for a 1031 exchange or owner-occupancy, and notably features exceptionally low taxes. The combination of a strong location, vacant units allowing for immediate income generation, and attractive financial projections makes this a truly rare find in the vibrant Jackson Heights market.
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
- -73.8715
- Latitude
- 40.7491
