REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,535,000
Est. payment /mo
Price Dropped by $53K
7617 Myrtle AVE Glendale, NY 11385
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 969051
Rental Info No
Year Built 1938
Annual Tax Amount $10,974
Property Sub-Type Mixed Use
Source onekey2
Property Description
Calling All Investors, Developers, & End-Users!!! 8.69 Cap 100% Occupied 4 Unit 3,300 Sqft. Corner Mixed-Use Building In Glendale For Sale!!! The Property Features Excellent Signage, Great Exposure, R4B/C1-3 Zoning, High 9' Ceilings, (2) 3 Br. Apartments, (1) 2 Br. Apartment, Basement, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Glendale Just 3 Blocks From The Jackie Robinson Parkway!!! The Property Has 21' Of Frontage On Myrtle Ave. + 106' On 78th St.!!! Neighbors Include Starbucks, USPS, HomeGoods, Ulta Beauty, T.J. Maxx, Chili's Bar & Grill, Cold Stone Creamery, California Pizza Kitchen, Dunkin', McDonald's, Regal Cinemas, Dollar General, Wendy's, Subway, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Myrtle Meds Pharmacy: $39,403.68 Ann.; 3% Ann. Inc.; Lease Exp.: 8/31/29.
Apt. 1 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Apt. 2 (2 Br.): $34,692 Ann.; Lease Exp.: 4/30/27.
Apt. 3 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Gross Income: $157,231.68 Ann.
Expenses:
Gas: $0 Ann.
Electric: $495 Ann.
Maintenance & Repairs: $4,000 Ann.
Water & Sewer: $2,400 Ann
Insurance: $6,041 Ann.
Taxes: $10,973.90 Ann.
Total Expenses: $23,909.90 Ann.
Net Operating Income (NOI): $133,321.78 Ann. (8.69% Cap!!!)
Income:
Myrtle Meds Pharmacy: $39,403.68 Ann.; 3% Ann. Inc.; Lease Exp.: 8/31/29.
Apt. 1 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Apt. 2 (2 Br.): $34,692 Ann.; Lease Exp.: 4/30/27.
Apt. 3 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Gross Income: $157,231.68 Ann.
Expenses:
Gas: $0 Ann.
Electric: $495 Ann.
Maintenance & Repairs: $4,000 Ann.
Water & Sewer: $2,400 Ann
Insurance: $6,041 Ann.
Taxes: $10,973.90 Ann.
Total Expenses: $23,909.90 Ann.
Net Operating Income (NOI): $133,321.78 Ann. (8.69% Cap!!!)
Location
State NY
County Queens
Rooms
Basement Full
Interior
Heating See Remarks
Cooling None
Fireplace No
Exterior
Utilities Available See Remarks
Building
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Other
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • Richard Matt Shane
Nearby Locations