92-08 95 AveQueens, NY 11416

For Sale
$1,049,000

Renovated building, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property, located at 92-08 95th Ave in Ozone Park, Queens, NY 11416, presents a compelling investment opportunity. The 3,000 square foot building, constructed in 1920 and extensively renovated in 2022, boasts a 100% occupancy rate with two tenants. The first floor comprises 1,500 square feet of commercial space, ideal for a daycare or storefront, featuring 12-foot ceilings, a full kitchen, pantry, and office. Upstairs, a 1,500 square foot, three-bedroom apartment with 11-foot ceilings provides additional income. A full 1,500 square foot basement offers significant expansion potential, accessible from the first-floor hallway. The property sits on a 2,500 square foot lot and benefits from central air conditioning. Its convenient location, just one block from Woodhaven Boulevard and a short distance from the Liberty Avenue subway, ensures high visibility and accessibility. The current leases expire February 10, 2024, with the next occupancy date set for April 30, 2024. The property's strong financial performance is reflected in its 5.34% pro-forma cap rate and a pro-forma NOI of $56,000. The permitted zoning is R5, C1-3. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use asset in a desirable Queens location. The APN is 9032-4.

Highlights

  • $1,049,000 asking price for this mixed-use property.
  • 3,000 square feet, 100% occupied, with two tenants.
  • 5.34% pro-forma cap rate, generating a $56,000 pro-forma NOI.
  • Recently renovated (2022) two-story building on a 2,500 square foot lot in Ozone Park, Queens.
  • Located one block from Woodhaven Boulevard, near the Liberty Avenue subway.

Property Details for 92-08 95 Ave

Property type
Day care centers & nurseries, Other retail properties
Square Feet
3,000 SF
Class
C
Year Built/Renovated
1920/2022
Buildings
1
Stories
2

Location Insight

City
Queens
County
Queens
State
New York
Latitude
40.686502520651
Longitude
-73.849588537021
92-08 95 Ave, Queens, New York

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92-08 95 Ave
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