7521 Myrtle AveGlendale, NY 11385

Property Details for 7521 Myrtle Ave

Year built

1920

Lot size

0.05 AC

Property size (Sq ft)

2,720 SF

Zone code

R4B

Property type

Investment properties

Property subtype

Live-work space

APN

03825-0034

APU

38250034

Description

This exceptional mixed-use property at 75-21 Myrtle Ave, Glendale, NY presents a compelling investment opportunity. The building, constructed of brick, boasts a desirable corner location with excellent street visibility and high traffic volume due to its proximity to the Jackie Robinson Parkway. The R4B zoning allows for a variety of uses. The building itself measures 20 x 78 feet and includes a thriving commercial storefront currently operating as a pharmacy. Above the commercial space are three residential units: two 2-bedroom, 1-bathroom apartments and one 1-bedroom, 1-bathroom apartment. All units are currently occupied by tenants, generating a substantial rental income stream. A significant advantage is the inclusion of a two-car attached garage, a rare and valuable amenity in this area where parking is often limited. The semi-attached nature of the building enhances its curb appeal and provides a distinct presence on the street. This property offers a strong combination of commercial and residential income, making it an attractive investment with high potential for return. The current occupancy rate is 100%, ensuring immediate cash flow. This is a truly remarkable opportunity to acquire a well-maintained, income-producing property in a highly sought-after Glendale location.

• CAP approach

  CAP return

  Valuation

  6%

  $449,697

  6.5%

  $415,105

  7%

  $385,455

• Comparable approach

  Method

  Valuation

  Relative Method

  $355,395

  Geo Method

  $355,395

• Alternative Use

  Use

  Valuation

  Residential

  $514,730

  Hospitality

  $471,490

  Educational

  $392,274

  Medical

  $405,765

  Retail

  $610,205

Location Insight

City

Glendale

County

Queens

State

New York

Latitude

40.7028

Longitude

-73.8728

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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