100-12 Northern BlvdCorona, NY 11368

Property Details for 100-12 Northern Blvd

Property size (Sq ft)

2,300 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property, located at 100-12 Northern Boulevard in Corona, Queens, presents a lucrative investment opportunity. The 2,300 square foot building boasts a vibrant retail storefront and a multifamily component, comprising seven one-bedroom apartments, one three-bedroom apartment, and a total of eight rental units. The retail space currently generates $6,200 in monthly rent. Apartment rents range from $1,850 to $2,300 per month, contributing to a substantial gross monthly income of $26,186. The property underwent renovations in 2021. The building sits on a 2,300 square foot lot and is zoned R6A-C1. Financially, the property demonstrates strong performance with a Net Operating Income (NOI) of $286,714. Annual expenses include real estate taxes ($16,668), water ($1,600), electricity ($1,700), insurance ($5,000), garbage ($2,000), and miscellaneous expenses ($550), totaling $27,518 annually. This six-story building offers a compelling blend of retail and residential income streams, making it an attractive investment in a desirable Queens location. The asking price is $5,875,000.

Location Insight

City

Corona

County

Queens

State

New York

Latitude

40.7572

Longitude

-73.8678

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