Property
| Ownership: | For Sale |
|---|---|
| Type: | mixed-use |
| Bedrooms: | Studio |
| Pets: | Pets No |
Financials
DescriptionRare Mixed-Use Opportunity in Prime Ridgewood Location!
Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2,024 sq ft on a 23' x 88' lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants.
The Commercial space ( currently rented at $3,500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities.
Projected pro forma gross income of $146,700/year, with estimated expenses of $13,500/year, brings a potential net income of $133,200, yielding a 7% Cap rate at full market rents.
Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can't miss opportunity in on of queens' most desirable mixed-use corridors.
Rare Mixed-Use Opportunity in Prime Ridgewood Location! Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2,024 sq ft on a 23' x 88' lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants. The Commercial space ( currently rented at $3,500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities. Projected pro forma gross income of $146,700/year, with estimated expenses of $13,500/year, brings a potential net income of $133,200, yielding a 7% Cap rate at full market rents. Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can't miss opportunity in on of queens' most desirable mixed-use corridors.
Rare Mixed Use Opportunity in Prime Ridgewood Location !
DescriptionRare Mixed-Use Opportunity in Prime Ridgewood Location!
Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2,024 sq ft on a 23' x 88' lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants.
The Commercial space ( currently rented at $3,500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities.
Projected pro forma gross income of $146,700/year, with estimated expenses of $13,500/year, brings a potential net income of $133,200, yielding a 7% Cap rate at full market rents.
Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can't miss opportunity in on of queens' most desirable mixed-use corridors.
Rare Mixed-Use Opportunity in Prime Ridgewood Location! Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2,024 sq ft on a 23' x 88' lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants. The Commercial space ( currently rented at $3,500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities. Projected pro forma gross income of $146,700/year, with estimated expenses of $13,500/year, brings a potential net income of $133,200, yielding a 7% Cap rate at full market rents. Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can't miss opportunity in on of queens' most desirable mixed-use corridors.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
