75-12 Metropolitan Avenue
100% Vacant - 2 Apartments over 1 Retail
Marketing description
Located at 75-12 Metropolitan Avenue, Queens, NY, this prime 3-unit mixed-use property offers a compelling value add opportunity. The 2-story building features a strategic unit mix comprising one ground-floor retail space and two residential apartments, both of which operate in the highly desirable free market sector.
Strategically positioned along the vibrant Metropolitan Avenue retail corridor, the property boasts a total building size of 2,642 SF with 20' x 45' building dimensions on a 2,000 SF lot. The asset is zoned R5 and C1-3, allowing for a residential Floor Area Ratio (FAR) of 1.5, and includes an additional 360 SF of available air rights for future potential.
The retail lease expires April 30th, 2026 and will be available for immediate repositioning or owner-user occupancy, offering significant upside. The tenant had been there since 2021. This versatile asset is well positioned for both immediate value creation and long-term appreciation, making it an attractive investment opportunity in the competitive Queens real estate market.
Investment highlights
75-12 Metropolitan Avenue is a 2,642-square-foot mixed-use building in Queens, NY,
prominently situated on the Metropolitan Avenue retail corridor. It features a 3-unit mix of
ground-floor retail and two residential apartments, all 100% free-market. The property
presents a significant value-add opportunity to acquire a prime asset including 360
square feet of available air rights. Currently vacant, it provides a blank canvas to establish
market rents, positioning it as a premier repositioning investment.
Given its repositioning potential and entirely free-market units, the property offers a clear
path to strong cash flow through a strategic lease-up. With a baseline real estate tax
liability of $20,844, an investor can efficiently establish a stabilized Net Operating Income.
This provides a secure foundation with upside through future organic rent growth. The
offering is a compelling opportunity to acquire a flexible, value-add asset in a prime
Queens location.
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