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Mixed-Use

60-16 86th Street

60-16 86th Street, Queens, NY 11379

Listing Price: $3,200,000

Cap Rate
4.70%
Number of Units
9
Occupancy
100.0%
Price/Unit
$355,556
Price/Gross SF
$436.50
Gross SF
7,331

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 60-16 86th Street, a three-story mixed-use building located between 60th Avenue and 60th Road in the Middle Village neighborhood of Queens, New York. The subject property consists of 7,331 square feet and is built 72 ft x 25 ft on a 103.9 ft x 47.91 ft, R4-1 zoned lot. The property features nine fully leased apartments and two offices and a storage unit. The property has additional income from a laundry unit and three parking spaces. The nine units consist of six one-bedroom units and three studios. The offices and storage are currently leased as studio units as well. The entire building is free market and receives ancillary income from the garage spaces and laundry. The subject property is located an eight-minute walk from the Woodhaven Blvd subway station, serviced by the E, M, and R lines. The property is also located within direct access to the Long Island Expressway (I-495) and a five-minute drive to the Queens Center Mall, Queens Places Mall, Cheesecake Factory, Macy’s, Target and many other major retails on the Queen Boulevard corridor. Investors have the opportunity to purchase a cash flowing mixed-use building in the growing Middle Village neighborhood where commercial & residential rents remain strong.

Investment Highlights

  • Three-Story Mixed-Use Building in Middle Village
  • Nine Fully Leased Free-Market Apartments
  • Additional Cash Flow from Commercial Unit & Parking
  • Eight-Minute Walk from the Woodhaven Blvd "E", "M" and "R" Trains
  • Located Two-Minutes from the Long Island Expressway
  • Five-Minutes' Drive to the Queens Blvd Retail Corridor
  • R4-1 Zoning

Exclusively Listed By

Mixed-Use

60-16 86th Street

Listing Price: $3,200,000

Cap Rate
4.70%
Number of Units
9
Occupancy
100.0%
Price/Unit
$355,556
Price/Gross SF
$436.50
Gross SF
7,331

Investment Highlights

  • Three-Story Mixed-Use Building in Middle Village
  • Nine Fully Leased Free-Market Apartments
  • Additional Cash Flow from Commercial Unit & Parking
  • Eight-Minute Walk from the Woodhaven Blvd "E", "M" and "R" Trains
  • Located Two-Minutes from the Long Island Expressway
  • Five-Minutes' Drive to the Queens Blvd Retail Corridor
  • R4-1 Zoning

Investment Overview

Marcus & Millichap has been retained on an exclusive basis to arrange the sale of 60-16 86th Street, a three-story mixed-use building located between 60th Avenue and 60th Road in the Middle Village neighborhood of Queens, New York. The subject property consists of 7,331 square feet and is built 72 ft x 25 ft on a 103.9 ft x 47.91 ft, R4-1 zoned lot. The property features nine fully leased apartments and two offices and a storage unit. The property has additional income from a laundry unit and three parking spaces. The nine units consist of six one-bedroom units and three studios. The offices and storage are currently leased as studio units as well. The entire building is free market and receives ancillary income from the garage spaces and laundry. The subject property is located an eight-minute walk from the Woodhaven Blvd subway station, serviced by the E, M, and R lines. The property is also located within direct access to the Long Island Expressway (I-495) and a five-minute drive to the Queens Center Mall, Queens Places Mall, Cheesecake Factory, Macy’s, Target and many other major retails on the Queen Boulevard corridor. Investors have the opportunity to purchase a cash flowing mixed-use building in the growing Middle Village neighborhood where commercial & residential rents remain strong.

Exclusively Listed By

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