6222 Myrtle AveGlendale, NY 11385

Property Details for 6222 Myrtle Ave

Year built

1931

Lot size

0.04 AC

Property size (Sq ft)

3,135 SF

Zone code

R5D

Property type

Investment properties

Property subtype

Live-work space

APN

03593-0013

APU

35930013

Description

This exceptional Glendale, NY mixed-use property at 6222 Myrtle Ave offers a compelling investment opportunity. The 3,135 square foot building boasts a thriving ground-floor retail space currently leased to an established tenant, ensuring consistent income. High visibility on Myrtle Avenue guarantees strong foot traffic and excellent exposure. Above the retail space are two well-maintained residential units, each featuring two bedrooms and one bathroom. These units provide additional rental income streams, contributing to the property's overall profitability. The building's dimensions are 19 feet by 55 feet. The property's prime location offers easy access to public transportation, major roadways, and a wide variety of shopping and dining establishments. The surrounding neighborhood is a blend of bustling commercial activity and peaceful residential areas, creating a desirable living environment. The consistently high occupancy rates and competitive rental income make this a financially sound investment, ideal for those seeking a blend of commercial and residential returns in a vibrant urban setting. This property presents a rare chance to acquire a well-established, income-generating asset in a thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $518,309

  6.5%

  $478,439

  7%

  $444,265

• Comparable approach

  Method

  Valuation

  Relative Method

  $409,619

  Geo Method

  $409,619

• Alternative Use

  Use

  Valuation

  Residential

  $593,265

  Hospitality

  $543,427

  Educational

  $452,125

  Medical

  $467,674

  Retail

  $703,306

Location Insight

City

Glendale

County

Queens

State

New York

Latitude

40.7007

Longitude

-73.8925

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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