75-21 Myrtle Ave Queens, NY 11385
- Mixed-use properties
- 2,720 SF
Current Use by Public Records
- Trinity Rx Pharmacy / Pharmacy
Property Details for 75-21 Myrtle Ave
- Year built
- 1920
- Property size
- 2,720 SF
- Property type
- Mixed-use properties
- Property subtype
- Drug stores
Description
This exceptional mixed-use property, located at 75-21 Myrtle Ave, Queens, NY 11385, presents a lucrative investment opportunity. The 2-story, 2,720 square foot building, constructed in 1920, sits on a 2,015 square foot lot and boasts a 100% occupancy rate with three units. The property includes a ground floor pharmacy generating $1,990 in monthly rent, and two residential units upstairs, one renting for $1,850 and another for $1,800 monthly. An additional residential unit on the lower floor brings in $1,350 monthly, and two parking spaces generate an additional $500 monthly. The total annual income is $89,880, with total expenses of $15,630, resulting in a strong net operating income (NOI) of $74,520 and a 4.4% capitalization rate. The asking price is $1,695,000, translating to $623.16 per square foot and $565,000 per unit. This property offers a compelling blend of stable income streams and significant potential for future appreciation in a desirable Queens location. The building is classified as Class C. The net rentable square footage is 2,700 square feet.
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
- -73.8727
- Latitude
- 40.7028
