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32345816
32345817

7951 Myrtle Ave, Glendale, NY 11385

FM
NY 10401361647
Berkshire Hathaway Commercial Services | Laffey International Realty
Listed by Berkshire Hathaway Commercial Services | Laffey International Realty
$1,400,000
37 days on market
Updated 2 days ago

7951 Myrtle Ave

Details
APN 03830-0082
Property Type Mixed Use, Multifamily (+1)
Square Footage 4,315
Net Rentable (SqFt) 2,100
Units 4
Cap Rate 7.94%
NOI $119,050
Tenancy Multi
Pro-Forma Cap Rate 7.94%
Pro-Forma NOI $119,050
Price per SqFt $348
Year Built 1031
Stories 2
Acreage 0.080
Zoning R5B
Parking Spaces 4 spaces
Parking Per SqFt 0.93
Investment Type Value Add
Ground Lease No

Mixed Use | 7.94% CAP | 4,315 SqFt

Marketing description

Berkshire Hathaway Commercial Services is pleased to present 7951 Myrtle Avenue in Glendale, a well-positioned two-story mixed-use property offering a strong owner-user or investment opportunity along one of Queens' most traveled corridors.

The property totals 4,315 SF on a 0.08-acre lot with 2,100 SF of rentable area and is zoned R5B, allowing for a variety of commercial and residential uses. The building is currently occupied by Cubur Dental Lab, Flora's Florist, and two residential apartments, one of which is owner-occupied and will be delivered vacant upon sale, along with the dental lab space. The lab is currently equipped with a furnace for melting dental impressions which can be utilized for a variety of uses. The building also includes a sizable basement including 10ft ceilings below the florist that can be used for storage, as well as a new roof that was renovated around 3 years ago. The site also features street parking in addition to two private spaces and a two-car garage, offering convenient access for both tenants and customers.

Located directly across from Forest Park and adjacent to residential housing, the property combines strong visibility with neighborhood charm. Its strategic location offers direct access to the Jackie Robinson Parkway and proximity to local amenities, making it an ideal opportunity for investors or owner-users looking for a well-maintained asset in the heart of Glendale.

Investment highlights

  • Well-positioned two-story mixed-use property offering a strong owner-user or investment opportunity along one of Queens' most traveled corridors
  • Totals 4,315 SF on a 0.08-acre lot with 2,100 SF of rentable area
  • Zoned R5B, allowing for a variety of commercial and residential uses
  • Currently occupied by Cubur Dental Lab, Flora's Florist, and two residential apartments
  • One apartment is owner-occupied and will be delivered vacant upon sale, along with the dental lab space
  • Lab is currently equipped with a furnace for melting dental impressions which can be utilized for a variety of uses
  • Sizable basement including 10ft ceilings below the florist that can be used for storage
  • New roof that was renovated around 3 years ago
  • Street parking in addition to two private spaces and a two-car garage
  • Located directly across from Forest Park and adjacent to residential housing
  • Strategic location offers direct access to the Jackie Robinson Parkway and proximity to local amenities

Listing Contacts

FM
NY 10401361647
Berkshire Hathaway Commercial Services | Laffey International Realty
Listed by Berkshire Hathaway Commercial Services | Laffey International Realty

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$119,050.00
$9,920.83/mo

Valuation Metrics

0
DSCR
8.5%
Cap Rate
8.5%
ROI

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