New York, NY 11354

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: Pets No
Lot Size: 0.03 Acres

Financials

Price:$4,990,000
Annual Taxes:$42,754.64
47-44 Vernon Blvd, Long Island City, NY 11101
Listing Courtesy of Keller Williams Rlty Landmark

Description

Prime Mixed-Use Investment in the Heart of Downtown Flushing A rare opportunity to acquire a fully leased (with the exception of the basement) mixed-use building in one of the most dynamic and fast-growing corridors of Flushing. This well-maintained property offers a strong, stable income stream today with significant upside for tomorrow. Basement: Vacant and ready for lease — an ideal space for a new tenant looking to capitalize on Flushing’s unmatched foot traffic. First Floor: Occupied by a popular, well-established dessert restaurant with strong brand recognition and reliable rental income. Second Floor: Leased to a long-term office tenant, providing consistent and dependable revenue. Third & Fourth Floors: Each features a spacious 3-bedroom, 2-bath residential unit, generating excellent rental income in a high-demand neighborhood. With a projected cap rate of approximately 6%, this property is low-maintenance, easy to manage, and perfectly suited for both seasoned investors and those seeking a stable, hands-off return. Positioned in a rapidly developing section of Downtown Flushing, this asset offers the perfect blend of current cash flow and future appreciation. Don’t miss your chance to secure a solid, income-producing property in one of Queens’ most vibrant commercial and residential hubs.

Amenities

  • Accessible Elevator Installed
  • Electricity Connected
  • Natural Gas Connected
  • Phone Connected
  • Sewer Connected
  • Water Connected

Prime Mixed Use Investment in the Heart of Downtown Flushing A rare opportunity to acquire a fully leased with the exception of the basement mixed use building in one of ...

View of building exterior

Long Island MLS

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.