109-11 Farmers Blvd Queens, NY 11412
- Retail properties
- 2,120 SF
- 0.04 lot acres
Current Use by Public Records
- FAST BITE / Fast Food Restaurant
- Yaad man thing / Restaurant
Property Details for 109-11 Farmers Blvd
- Year built
- 1920
- Lot size
- 0.04 lot acres
- Property size
- 2,120 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use building, located at 109-11 Farmers Blvd in Saint Albans, Queens, NY 11412, presents a compelling investment opportunity. The property, built in 1920, encompasses 2,120 square feet on a 0.04-acre lot and features a total of three units: two residential apartments and one commercial storefront. The building is currently 100% occupied, generating a Net Operating Income (NOI) of $60,852, resulting in a 5.63% capitalization rate. A pro forma NOI of $72,852 projects a 6.75% cap rate. The property is zoned R5B/C1-3, allowing for a variety of uses. Each unit has separately metered electric service, and the apartments are fully renovated with mini-split units for climate control. The commercial tenant is under a new five-year lease with built-in annual rent bumps of 5%. The asking price is $1,080,000, representing a price per square foot of $509.43. This fee-simple ownership opportunity boasts a strategic location near the Hollis Train Station and multiple bus lines, ensuring high visibility and accessibility. The property's strong cash flow, combined with its prime location and upside potential, makes it an ideal addition to any investment portfolio. The building consists of two stories and is situated in Queens County.
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
- -73.7668
- Latitude
- 40.7037
