21-22 Cornaga Ave Queens, NY 11691
- Mixed-use properties
- 12,420 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 21-22 Cornaga Ave
- Year built
- 1930
- Property size
- 12,420 SF
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents three mixed-use buildings located at 21-18, 21-20, and 21-22 Cornaga Avenue in Queens, New York, 11691. The property boasts a total of 12,420 square feet, encompassing nine residential units and three ground-floor commercial spaces. Each building features a three-story structure, with two apartments on the second and third floors and a single commercial storefront on the ground floor. Built in 1930, the buildings sit on a 4,725 square foot lot and are zoned R5. The property currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $299,000 annually, or $9,000 per month. The net rentable square footage is 4,140 square feet. This well-maintained property offers a compelling investment opportunity with significant potential for future growth and appreciation in a desirable Queens location. The asking price is $3,500,000. This is a rare chance to acquire a stable, high-performing multifamily asset with established income streams and significant upside potential. Serious inquiries only.
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
- -73.7549
- Latitude
- 40.6022
