92-18 Liberty AveQueens, NY 11417

Property Details for 92-18 Liberty Ave

Year built

1931

Property size (Sq ft)

2,600 SF

Property type

Mixed-use properties

Property subtype

Multifamily properties

Description

This 2-story, 2,600 square foot mixed-use building in Ozone Park, Queens, presents a compelling investment opportunity. Located at 92-18 Liberty Avenue, this property boasts a prime location just two blocks from the Cross Bay Boulevard subway station, ensuring excellent accessibility. The building, constructed in 1931 and renovated in 2023, features four units: a 600 square foot vacant commercial space on the first floor with a market value of $2,200+ per month, a vacant 3-bedroom apartment (also on the first floor) with a market rent value of $2,800 (including backyard use), a 700 square foot, 2-bedroom apartment on the second floor with a market rent of $2,600, and a 600 square foot, 1-bedroom apartment on the second floor with a market rent of $2,300. The building sits on a 2,080 square foot lot (20' x 104') with a building footprint of 20' x 68'. The property is zoned R6B, C2-3, and includes 1,560 square feet of available air rights. With a projected gross income of nearly $116,400 (at full occupancy and market rents) and expenses of $22,277 (including low taxes), the property offers a net operating income (NOI) of $94,123, resulting in an 8.51% pro-forma cap rate. Currently, the occupancy is 50%, with full occupancy expected by October 31, 2024. This property is ideal for owner-users or investors seeking a strong return on investment in a rapidly developing area. The asking price is $1,175,000.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.6802

Longitude

-73.8461

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].