111-17 Roosevelt AveQueens, NY 11368

Property Details for 111-17 Roosevelt Ave

Year built

1992

Property size (Sq ft)

2,250 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property in Corona, Queens, presents a compelling investment opportunity. The building, constructed in 1992 with a significant 2024 renovation, boasts a prime location near the train station and offers convenient parking for two vehicles. The property comprises a substantial 1600 sq ft ground-floor retail space with two half-baths and additional storage, complemented by two 2-bedroom, 1-bathroom apartments (approximately 600 sq ft each) on the second floor. Atop the building sits a luxurious 3-bedroom, 2-bathroom penthouse suite (approximately 1300 sq ft), built in 2007. The building's total square footage is 2250 sq ft, situated on a 2250 sq ft lot. The property features a strong financial profile, with a Net Operating Income (NOI) of $158,646 and an 8.35% cap rate. The building's gross income, including the storefront, is $178,740, against total expenses of $20,094. A transferrable two-year roof warranty is included. The property is zoned R6B, offering potential for future development. This four-unit apartment building represents a rare blend of immediate income generation and long-term growth potential in a vibrant and accessible location. All utilities are clearly separated and easily accessible.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7521

Longitude

-73.8553

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