92-08 95 AveQueens, NY 11416

Property Details for 92-08 95 Ave

Year built

1920

Property size (Sq ft)

3,000 SF

Property type

Specialty properties

Property subtype

Day care centers & nurseries

Description

This exceptional mixed-use property, located at 92-08 95th Ave in Ozone Park, Queens, NY 11416, presents a compelling investment opportunity. The 3,000 square foot building, constructed in 1920 and extensively renovated in 2022, boasts a 100% occupancy rate with two tenants. The first floor comprises 1,500 square feet of commercial space, ideal for a daycare or storefront, featuring 12-foot ceilings, a full kitchen, pantry, and office. Upstairs, a 1,500 square foot, three-bedroom apartment with 11-foot ceilings provides additional income. A full 1,500 square foot basement offers significant expansion potential, accessible from the first-floor hallway. The property sits on a 2,500 square foot lot and benefits from central air conditioning. Its convenient location, just one block from Woodhaven Boulevard and a short distance from the Liberty Avenue subway, ensures high visibility and accessibility. The current leases expire February 10, 2024, with the next occupancy date set for April 30, 2024. The property's strong financial performance is reflected in its 5.34% pro-forma cap rate and a pro-forma NOI of $56,000. The permitted zoning is R5, C1-3. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use asset in a desirable Queens location. The APN is 9032-4.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.6865

Longitude

-73.8496

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