Free Market Mixed-Use Queens Corner w Parking | 11024-11028 Merrick Blvd
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Free Market Mixed-Use Queens Corner w Parking 11024-11028 Merrick Blvd
6,658 SF 100% Leased Retail Building Jamaica, NY 11433 $2,900,000 ($436/SF) 8.03% Cap Rate
Investment Highlights
- Free Market Mixed-Use Tax Class Protected
- Paved and Gated Leased Parking Lot
- 100% Occupied - 6 Residential and 3 Commercial Units
Executive Summary
11024-11028 is an assemblage of three mixed-use properties on the northwest corner of Merrick Blvd and 110th Rd in South Jamaica, Queens. The properties each include 2 residential units on top of 1 retail per building and the apartments have all been recently renovated. There is a rear yard on 110th Rd with an existing curb-cut which has been recently paved, gated, and leased to a construction company for parking and storage.
The properties lie exactly 1 mile south of Jamaica Ave and the nearby Jamaica Center-Parsons/Archer and LIRR hubs and the subject stretch of Merrick Blvd is serviced by the Q4,5,84,85 and n4 bus lines.
The properties lie exactly 1 mile south of Jamaica Ave and the nearby Jamaica Center-Parsons/Archer and LIRR hubs and the subject stretch of Merrick Blvd is serviced by the Q4,5,84,85 and n4 bus lines.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,658 SF
Building Class
C
Year Built
1931
Price
$2,900,000
Price Per SF
$436
Cap Rate
8.03%
NOI
$232,870
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.90
Land Acres
0.17 AC
Zoning
R5D, C2-4
Frontage
60 FT on Merrick Blvd
Walk Score ®
Very Walkable (82)
Transit Score ®
Excellent Transit (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $103,405 | |
| Land Assessment | $40,015 | Total Assessment | $143,420 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$40,015
Improvements Assessment
$103,405
Total Assessment
$143,420
-
Matthew Colantonio -
Baruch Edelkopf -
Schuckman Realty, Inc.
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Free Market Mixed-Use Queens Corner w Parking | 11024-11028 Merrick Blvd
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