6517 Myrtle AveGlendale, NY 11385

Property Details for 6517 Myrtle Ave

Year built

1931

Lot size

0.05 AC

Property size (Sq ft)

3,500 SF

Zone code

R5D

Property type

Office buildings

APN

03676-0022

APU

36760022

Description

This exceptional 3,500 square foot L-shaped brick commercial building presents a lucrative investment opportunity in Glendale, NY. Boasting two street accesses, the property enjoys a prime location within a high-traffic area, ensuring consistent foot and vehicle traffic. Currently occupied by two commercial tenants, the building generates substantial rental income. The first-floor tenant, Benjamin Moore, occupies a significant portion of the space, paying a monthly rent of $3,713.15, increasing to $3,827.10 in December. Their lease expires November 29th. The second floor features an office space, currently leased for $2,250 per month, with a lease expiration date of October 25th. Both tenants are responsible for all utilities except taxes and water/sewer. The building also includes a full walk-out basement, offering additional storage or potential for expansion. Annual property taxes are approximately $24,404. The building's dimensions are 20 feet by 58 feet, providing ample space for the current tenants and potential future uses. This property offers a strong cash flow with potential for increased rental income upon lease renewals. The high-traffic location and existing tenant base make this an ideal investment for a discerning buyer seeking a stable and profitable commercial property.

• CAP approach

  CAP return

  Valuation

  6%

  $687,099

  6.5%

  $634,245

  7%

  $588,942

• Comparable approach

  Method

  Valuation

  Relative Method

  $457,310

  Geo Method

  $457,310

• Alternative Use

  Use

  Valuation

  Residential

  $786,464

  Hospitality

  $720,397

  Educational

  $599,362

  Medical

  $619,975

  Retail

  $932,340

Location Insight

City

Glendale

County

Queens

State

New York

Latitude

40.7015

Longitude

-73.8896

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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].