37-17 108 StQueens, NY 11368

Property Details for 37-17 108 St

Year built

2008

Property size (Sq ft)

15,068 SF

Property type

Mixed-use properties

Property subtype

Apartment buildings

Description

Exceptional investment opportunity in Corona, Queens, presents a remarkable stabilized mixed-use building. This property boasts two four-story buildings, totaling 15,068 square feet, constructed in 2008. The buildings sit on a 5,000 square foot lot and are zoned R6B/C1-4. The property features 16 units, including 14 rent-stabilized residential units and two ground-floor commercial spaces, currently enjoying 100% occupancy. The substantial net operating income (NOI) stands at $282,172, yielding an attractive 9.41% cap rate. This represents a strong pro-forma cap rate as well, indicating a stable and predictable income stream. The asking price is $3,000,000. This well-maintained property offers a compelling combination of residential and commercial income, making it an ideal addition to any investor's portfolio. The property's strong performance and prime location in Corona, Queens, ensure a secure and profitable investment. The building's size and layout provide ample opportunity for future growth and value appreciation. This is a rare opportunity to acquire a high-performing, mixed-use asset in a thriving market.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7535

Longitude

-73.8602

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