175-25 139 Rd Queens, NY 11434

Property Details for 175-25 139 Rd

Property size

6,370 SF

Property type

Retail properties & Spaces

Description

This exceptional Queens retail property at 175-25 139th Road offers a compelling investment opportunity. The 6,370 square foot building, situated on an 8,750 square foot lot, features four commercial units currently fully occupied, generating a strong net operating income (NOI) of $106,683, representing a 6.47% cap rate with a pro-forma cap rate of 8.81%. The asking price is $1,650,000, or $412,500 per unit. The property benefits from a recently installed roof (Q3 2024), minimizing landlord responsibilities. Significant upside potential exists through future rent increases and lease negotiations, further enhanced by additional income from a wall-mounted billboard. Its prime location on Farmers Boulevard, just blocks from the Locust Manor LIRR station and with easy access to the Belt Parkway, ensures high visibility and convenient access. The R3-2/R2/C1-3 zoning provides flexibility. The property's proximity to a dense residential neighborhood guarantees a strong customer base. This property is ideal for an owner-user due to the flexibility of the existing leases. This is a rare chance to acquire a well-performing, income-producing retail asset with substantial growth potential in a thriving Queens location.