74-09 37Th Ave Queens, NY 11372

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.