Property
| Ownership: | For Sale |
|---|---|
| Type: | Multi-Family |
| Bedrooms: | Studio |
| Lot Size: | 0.1 Acres |
Financials
Listing Courtesy of Azure Realty Group NY LLC
MIXED USE INVESTMENT JACKSON HEIGHTS FREE MARKET STEPS TO THE 7, E, F, M, R Rare opportunity to own a fully free market, mixed use building in the heart of ...
Description
MIXED-USE INVESTMENT | JACKSON HEIGHTS | FREE MARKET | STEPS TO THE 7, E, F, M, R | Rare opportunity to own a fully free-market, mixed-use building in the heart of Jackson Heights, one block from the 74 St–Broadway / Jackson Hts–Roosevelt Av transit hub (E, F, M, R, 7). This 4-story, 5,880 SF masonry building on a 20' x 100' (2,000 SF) lot features a recently leased lower-level commercial space and four spacious free-market apartments: one 3-bedroom and three 4-bedroom units. The lower-level commercial space is built out as a spa with a reception area, 7 examination rooms and 2 half baths, and is leased through 5/31/2031. The residential units are large, with 2-bath layouts on the upper floors, and staggered lease expirations provide stability along with upside. Current gross rent is $207,300, with a pro forma gross of $244,681 at market rents. Real estate taxes are $56,289; insurance $7,774, utilities $12,375, water/sewer $5,289 and maintenance/super $7,850. Total expenses are $89,577, for a current NOI of $117,723 (5.35% cap rate), rising to a pro forma NOI of $155,104 (7.05% cap rate). Zoned R5 with Walk Score 99 and Transit Score 100, this is a strong income-producing asset in one of Queens’ most established, high-demand rental markets. Asking $2,200,000 ($374 PSF). Showings by appointment only; please do not disturb tenants.
Amenities
- Balcony
- Cable - Available
- Cable Connected
- Convection Oven
- Electricity Available
- Electricity Connected
- Gas Oven
- Gas Range
- High Speed Internet
- Microwave
- Natural Gas Available
- Natural Gas Connected
- Phone Available
- Phone Connected
- Refrigerator
- Sewer Available
- Sewer Connected
- Trash Collection Public
- Walk Up
- Water Available
- Water Connected

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.