90-20 Corona AveElmhurst, NY 11373

For Sale
$3,900,000

7-Unit Commercial Building, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Elmhurst investment opportunity presents a fully occupied, mixed-use building spanning two lots at 90-02 - 90-20 Corona Avenue, zip code 11373. The property boasts a total of 4,905 square feet, encompassing five retail units (including a grocery store and restaurant) and two residential apartments. Currently generating a substantial net annual income of $138,242, this property is offered at an asking price of $3,900,000, representing a compelling 3.54% cap rate. The building benefits from a long history of stable tenancy, with multi-year leases in place and no vacancies reported in the past 15 years. This presents a low-risk, high-return investment opportunity. The property is zoned C2-3 and R-6B, allowing for a variety of potential uses. The building's strong performance and consistent income stream make it an ideal addition to any investment portfolio. This is an owner/user opportunity. The property is located in New York, NY. Serious inquiries only.

Highlights

  • $3,900,000 asking price for a mixed-use property in Elmhurst, NY.
  • 7-unit building with a grocery store, restaurant, and storefront tenants.
  • 3.54% cap rate with a $138,242 NOI.
  • 4,905 square feet on two lots, fully occupied with multi-year leases.
  • C2-3 and R-6B zoning.
  • Broker co-op available.

Property Details for 90-20 Corona Ave

Property type
Other retail properties, Individual retail properties
Units
7

Location Insight

City
Elmhurst
County
Queens
State
New York
Latitude
40.741546483848
Longitude
-73.874920004022
90-20 Corona Ave, Elmhurst, New York

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90-20 Corona Ave
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