Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 111-17 Roosevelt Ave
- Year built
- 1992
- Property type
- Retail properties & Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property in Corona, Queens, presents a compelling investment opportunity. The building, constructed in 1992 with a significant 2024 renovation, boasts a prime location near the train station and offers convenient parking for two vehicles. The property comprises a substantial 1600 sq ft ground-floor retail space with two half-baths and additional storage, complemented by two 2-bedroom, 1-bathroom apartments (approximately 600 sq ft each) on the second floor. Atop the building sits a luxurious 3-bedroom, 2-bathroom penthouse suite (approximately 1300 sq ft), built in 2007. The building's total square footage is 2250 sq ft, situated on a 2250 sq ft lot. The property features a strong financial profile, with a Net Operating Income (NOI) of $158,646 and an 8.35% cap rate. The building's gross income, including the storefront, is $178,740, against total expenses of $20,094. A transferrable two-year roof warranty is included. The property is zoned R6B, offering potential for future development. This four-unit apartment building represents a rare blend of immediate income generation and long-term growth potential in a vibrant and accessible location. All utilities are clearly separated and easily accessible.
Value Estimations
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AI approach
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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
- -73.8553
- Latitude
- 40.7521
