74-09 37Th Ave Queens, NY 11372
- Retail properties
- 92,914 SF
Current Use by Public Records
- New York Traffic Ticket Lawyers / Attorney
- Mustafiz Foundation / Non-Profit Organization
- Meta Info Tech (MIT) Inc / Employment Agency
- Theracare & Wellness Physical Therapy PC / Physical Therapist / Physical Therapy Clinic
- James Kirszrot - Jackson Heights / Optometrist / Contact Lenses Supplier
Property Details for 74-09 37Th Ave
- Year built
- 1949
- Property size
- 92,914 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This four-story, 92,914 square foot mixed-use building (68,587 net rentable square feet) in Jackson Heights, Queens, presents a compelling investment opportunity. Built in 1949 and extensively renovated in 2016, the property boasts a modern design and updated amenities, suitable for various office uses. Currently 75% occupied, the building features 22 units across one building and offers a strong NOI of $2,141,704, with a pro-forma NOI of $2,707,709 and a pro-forma cap rate of 7.52%. The asking price is $36,000,000, translating to a price per square foot of $387.46. Situated on a 20,000 square foot lot (APN: 01274-0035), the property is zoned R7-1, C1-3, providing flexibility for future development. Its prime location at 74-09 37th Avenue offers excellent accessibility and visibility, with convenient proximity to the 7 train at the 74th Street-Broadway station. The vibrant Jackson Heights neighborhood provides a diverse array of amenities for tenants and clients. This is a rare chance to acquire a well-maintained, income-producing asset in a thriving Queens community.
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
- -73.8917
- Latitude
- 40.749
