NY
Queens
Corona
11368
112-42 38 Avenue
112-42 38 Avenue, Corona, NY 11368
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Listing Type
Commercial/Industrial
Listing Status
Active
8
$2,880,000

Home Details for 112-42 38 Avenue

Price
$2,880,000
Type
Commercial Sale
Year built
2018
County
Queens
Basement
Partial
MLS Listing#
1031301
Property Description

Excellent Investment Opportunity Prime location with strong appreciation potential as the nearby casino development moves forward. All units rented at market rates. Property Details Lot Size: 25’ × 100’ Building Size: 25’ × 51’ (Approx. 5,294 SF) Built in 2018 Zoning: R6 Unit Mix 6 Two-Bedroom / One-Bath units 2 One-Bedroom / One-Bath units A neighboring building with the same layout has already been converted into 8 individual condominium units, generating an estimated $3 million in net profit. Separate Utilities 8 Water Meters 8 Gas Meters 9 Electric Meters 8 Heating Systems 8 Hot Water Heaters Investment Highlights Fully occupied with excellent tenants Rent receipts available (no written leases) Potential for future rent increases Annual Gross Income: Approx. $210,000 Estimated Cap Rate: 5% – 6% Outstanding Location Just a 2-block walk to the bustling Roosevelt Avenue / 7 Train station. Close to supermarkets, restaurants, Citi Field, and numerous neighborhood amenities.

Property Features
  • Parking
    • No Garage
    • None
  • Cooling Information
    • Electric
  • Heating Information
    • Natural Gas
  • Water Features
    • Public
  • Utilities
    • See Remarks
  • Basement
    • Partial
Listing Courtesy: E Realty International Corp - 718-886-8110
Presented by: Fenger Zou
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EXIT REALTY TEAM
45-66 162nd Street , Flushing , NY 11358
Office
718 358 4000
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