14-53 118 StQueens, NY 11356

Property Details for 14-53 118 St

Property size (Sq ft)

4,557 SF

Property type

Warehouses

Property subtype

Mixed-use properties

Description

This exceptional Queens, NY property at 14-53 118th Street offers a unique blend of commercial and residential potential. The 4,557 square foot building sits on a 5,000 square foot lot and is zoned M1-1, allowing for diverse uses. The property features approximately 2,613 square feet of warehouse space ideal for distribution or manufacturing, complemented by nearly 2,000 square feet of multifamily residential space across three units, currently requiring renovation. Built in 2001, this two-building complex boasts a strong pro-forma NOI of $123,006 and a 7.03% cap rate, representing a compelling investment opportunity for owner-users. Its prime location near the Whitestone Bridge and Cross Island Parkway provides easy access to major transportation arteries, enhancing its appeal to both businesses and residents. The asking price is $1,750,000, translating to $384.02 per square foot. This property presents a rare chance to acquire a well-located mixed-use asset with significant upside potential. The property has been off the market for over 20 years, making this a truly unique offering.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7842

Longitude

-73.8495

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