Current Use by Public Records
- Mixed-use properties
Property Details for 10216-18 43Rd Ave
- Year built
- 1931
- Property type
- Mixed-use properties
Description
This exceptional mixed-use investment property, located at 10216-18 43rd Ave in Queens, NY, presents a compelling opportunity. The property consists of two buildings totaling 5,920 square feet, encompassing six units: two commercial spaces and four residential apartments. Currently operating at 90% occupancy, the property boasts a strong net operating income (NOI) of $97,493, yielding a 5.16% cap rate. The asking price is $1,888,888, translating to $319.07 per square foot. Built in 1931, the property sits on a 4,325 square foot lot and is zoned R6B, offering significant potential for future development. The property's prime location in the vibrant Corona neighborhood provides excellent visibility for commercial tenants and easy access to public transportation, amenities, and Flushing Meadows-Corona Park. The well-maintained buildings offer immediate income generation and significant upside potential, particularly given the approximately 2500 square feet of unused floor area ratio (FAR). This unique investment opportunity combines strong current performance with substantial long-term growth prospects in a highly desirable area. The property's blend of commercial and residential units provides a diversified income stream and resilience to market fluctuations. This is a rare chance to acquire a well-positioned asset in a thriving Queens neighborhood.
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
- -73.8622
- Latitude
- 40.7472
