15020 12Th RdWhitestone, NY 11357

Property Details for 15020 12Th Rd

Year built

1929

Lot size

0.17 AC

Property size (Sq ft)

3,400 SF

Zone code

R3-2

Property type

Auto shops

APN

04518-0015

APU

45180015

Description

This exceptional mixed-use property presents a unique investment opportunity in the thriving commercial district of Whitestone, NY. The building, a newly constructed structure measuring approximately 20 feet by 70 feet, boasts a prime street-facing retail space on the ground floor, ideal for a variety of businesses. This commercial unit benefits from an ICAP tax abatement, offering significant financial advantages to the owner. The retail space encompasses approximately 1400 square feet and includes a private restroom. Above the retail space, two residential units are available, each spanning three floors. Each residential unit features three bedrooms and one bathroom, providing ample living space. The second-floor unit includes a large terrace, while the third-floor unit offers a private balcony. Adding to the property's value is a spacious basement, approximately 10 to 13 feet in height, accessible via a separate entrance, offering significant storage potential or the possibility of additional development. The building's location is unparalleled, situated in close proximity to schools, supermarkets, restaurants, and other essential amenities, ensuring high visibility and accessibility for both commercial and residential occupants. This property is a rare find, combining the benefits of a strong commercial investment with the potential for lucrative residential rental income. The combination of a desirable location, tax benefits, and versatile space makes this an attractive proposition for discerning investors.

• CAP approach

  CAP return

  Valuation

  6%

  $826,319

  6.5%

  $762,756

  7%

  $708,273

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,119,495

  Geo Method

  $1,119,495

• Alternative Use

  Use

  Valuation

  Residential

  $643,413

  Hospitality

  $589,363

  Educational

  $490,343

  Medical

  $507,207

  Retail

  $762,756

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.7897

Longitude

-73.8134

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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