71-16 Myrtle Ave
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71-16 Myrtle Ave
2,970 SF 100% Leased Retail Building Glendale, NY 11385 $1,499,000 ($505/SF)
Executive Summary
Introducing an exceptional investment / end user opportunity in the heart of Glendale, NY, 11385. This multi-unit property spans +/- 2,970 square feet and features 3 units (2 Residential 3 Bedroom Apartments and 1 Commercial Space) offering an ideal setup for Multifamily / Low-Rise/Garden investors looking to expand their portfolio. Boasting a prime location in the thriving Glendale area, this property presents an attractive combination of space and potential. With its well-designed layout and solid construction, this property is poised to deliver strong returns and long-term value. Don't miss the chance to capitalize on this rare offering in a sought-after location. Ground floor Commercial space (great for office, retail or deli, etc.) plus lower level commercial support space will be delivered vacant and 2 Residential 3 bedroom apartments are month to month. Great Add value property to add to your portfolio! Contact us for more info at 631-858-2470!
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$121,200
|
$40.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$121,200
|
$40.81
|
| Taxes |
$8,498
|
$2.86
|
| Operating Expenses |
$13,472
|
$4.54
|
| Total Expenses |
$21,970
|
$7.40
|
| Net Operating Income |
$99,230
|
$33.41
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $121,200 |
| Annual Per SF | $40.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $121,200 |
| Annual Per SF | $40.81 |
| Taxes | |
|---|---|
| Annual | $8,498 |
| Annual Per SF | $2.86 |
| Operating Expenses | |
|---|---|
| Annual | $13,472 |
| Annual Per SF | $4.54 |
| Total Expenses | |
|---|---|
| Annual | $21,970 |
| Annual Per SF | $7.40 |
| Net Operating Income | |
|---|---|
| Annual | $99,230 |
| Annual Per SF | $33.41 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,970 SF
Building Class
C
Year Built
1899
Price
$1,499,000
Price Per SF
$505
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.70
Lot Size
0.04 AC
Zoning
R5D, C2-3
Walk Score ®
Walker's Paradise (92)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 03709-0029 | Total Assessment | $42,311 |
| Land Assessment | $7,162 | Annual Taxes | $8,498 ($2.86/SF) |
| Improvements Assessment | $35,149 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03709-0029
Land Assessment
$7,162
Improvements Assessment
$35,149
Total Assessment
$42,311
Annual Taxes
$8,498 ($2.86/SF)
Tax Year
2024
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71-16 Myrtle Ave
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