114-02 Jamaica AveQueens, NY 11418

This exceptional mixed-use property at 114-02 Jamaica Avenue in Queens, New York, presents a compelling investment opportunity. The building, constructed in 1920, boasts 2,065 square feet across three stories and sits on a 2,065 square foot lot. Currently operating at 100% occupancy with four tenants, all credit-rated, under a net lease structure, the property generates a substantial net operating income (NOI) of $122,582, yielding a current cap rate of 5.84%. A pro-forma NOI of $155,180 projects a significantly improved cap rate of 7.39%. The property is zoned R6A and features a mix of residential and commercial units. The building is situated in the Richmond Hill neighborhood and is held under a ground lease by 114-02 LLC. The asking price is $2,100,000. This is a rare opportunity to acquire a well-performing, multi-tenant property with significant upside potential in a desirable Queens location. The property's strong tenant base and current high occupancy rate ensure a stable income stream, while the pro-forma projections indicate substantial growth potential. The property's mixed-use nature provides flexibility and diversification for investors. This is a turn-key investment ready for immediate income generation. The APN is 493041.