68-29 MYRTLE avenue
®
68-29
MYRTLE
avenue
For sale | mixed-use building | glendale, NY 11385 EXECUTIVE SUMMARY
PROPERTY DESCRIPTION
CPEX Real Estate has been exclusively retained to market for sale 68-29 Myrtle Avenue located in Glendale, Queens. The three-story mixed-use walk-up building is located on the north side of Myrtle Avenue between 68th Place and 69th Street. The lot measures approximately 20’ x 94’, totaling approximately 1,843 square feet. The building dimensions are approximately 20’ x 55’, and the total square footage is approximately 3,300 square feet. The ground floor of the building consists of one retail space, while floors two and three each consist of newly-renovated 3-bedroom apartments. The property is located in a R5D residential zoning district with a C1-3 commercial overlay. The maximum allowable Floor to Area Ratio (FAR) is 2.0 for residential use.
Location:
North side of Myrtle Avenue between 68th Place & 69th Street
Block_Lots:
3683_52
Floors:
3
Units:
3
Lot Dimensions:
20’ x 94’*
Lot Size:
1,843 SF*
Building Dimensions:
20' x 55'*
Building Size:
3,300 SF*
Gross Commercial SF:
1,100 SF*
Gross Residential SF:
2,200 SF*
Zoning:
C1-3/R5D
Residential FAR:
2.00
Commercial FAR:
1.00
Total Buildable SF:
3,686*
Taxes (16/17):
$6,082 *Approximate
ENUE
69TH STREET
94.18
20.4
52
MYRT
20.02
94.08
LE AV
3683
68TH PLACE
PRICE REDUCTION: $1,075,000 For Further Information, Please Contact Exclusive Sales Team: Lawrence Sarn Managing Director (718) 935-1821 [email protected]
Chase Reiter Associate (718) 687-4233 [email protected]
CPEX REAL ESTATE | 81 WILLOUGHBY STREET, 8TH FL | BROOKLYN, NY 11201 | TEL: (718) 935-1800 | FAX: (718) 935-1822 | WWW.CPEXRE.COM All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
68-29
®
MYRTLE
avenue
For sale | mixed-use building | glendale, NY 11385
PROJECTED RENT ROLL
Floor
Use
BR
SF
Lease Expiration
PPSF
Monthly Rent
Annual Rent
1st Floor
Retail
-
1,100
Vacant
$28
$2,600
$31,200
2nd Floor
Residential
3
1,100
Vacant
$20
$1,850
$22,200
3rd Floor
Residential
3
1,100
Dec. 2017
$20
$1,850
$22,200
$6,300
$75,600
3,300
Revenue Gross Annual Income
$75,600
Less Vacancy & Collection Loss (3%) Effective Gross Income
$2,260 $73,340
Expenses Real Estate Taxes (16/17)
$6,082
Water/Sewer
$1,800
Insurance
$1,800
Heat & Hot Water
$3,000
Repairs & Maintenance
$1,000
Total Expenses
68-29
MYRTLE
avenue
$13,682
Net Operating Income (NOI):
$59,658
Capitalization Rate
5.5%
Price Per Square Foot
$326
PRICE REDUCTION: $1,075,000 For Further Information, Please Contact Exclusive Sales Team: Lawrence Sarn Managing Director (718) 935-1821 [email protected]
Chase Reiter Associate (718) 687-4233 [email protected]
CPEX REAL ESTATE | 81 WILLOUGHBY STREET, 8TH FL | BROOKLYN, NY 11201 | TEL: (718) 935-1800 | FAX: (718) 935-1822 | WWW.CPEXRE.COM All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
68-29
MYRTLE
avenue
For sale | mixed-use building | glendale, NY 11385 EXECUTIVE SUMMARY
PROPERTY DESCRIPTION
CPEX Real Estate has been exclusively retained to market for sale 68-29 Myrtle Avenue located in Glendale, Queens. The three-story mixed-use walk-up building is located on the north side of Myrtle Avenue between 68th Place and 69th Street. The lot measures approximately 20’ x 94’, totaling approximately 1,843 square feet. The building dimensions are approximately 20’ x 55’, and the total square footage is approximately 3,300 square feet. The ground floor of the building consists of one retail space, while floors two and three each consist of newly-renovated 3-bedroom apartments. The property is located in a R5D residential zoning district with a C1-3 commercial overlay. The maximum allowable Floor to Area Ratio (FAR) is 2.0 for residential use.
Location:
North side of Myrtle Avenue between 68th Place & 69th Street
Block_Lots:
3683_52
Floors:
3
Units:
3
Lot Dimensions:
20’ x 94’*
Lot Size:
1,843 SF*
Building Dimensions:
20' x 55'*
Building Size:
3,300 SF*
Gross Commercial SF:
1,100 SF*
Gross Residential SF:
2,200 SF*
Zoning:
C1-3/R5D
Residential FAR:
2.00
Commercial FAR:
1.00
Total Buildable SF:
3,686*
Taxes (16/17):
$6,082 *Approximate
ENUE
69TH STREET
94.18
20.4
52
MYRT
20.02
94.08
LE AV
3683
68TH PLACE
PRICE REDUCTION: $1,075,000 For Further Information, Please Contact Exclusive Sales Team: Lawrence Sarn Managing Director (718) 935-1821 [email protected]
Chase Reiter Associate (718) 687-4233 [email protected]
CPEX REAL ESTATE | 81 WILLOUGHBY STREET, 8TH FL | BROOKLYN, NY 11201 | TEL: (718) 935-1800 | FAX: (718) 935-1822 | WWW.CPEXRE.COM All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
68-29
®
MYRTLE
avenue
For sale | mixed-use building | glendale, NY 11385
PROJECTED RENT ROLL
Floor
Use
BR
SF
Lease Expiration
PPSF
Monthly Rent
Annual Rent
1st Floor
Retail
-
1,100
Vacant
$28
$2,600
$31,200
2nd Floor
Residential
3
1,100
Vacant
$20
$1,850
$22,200
3rd Floor
Residential
3
1,100
Dec. 2017
$20
$1,850
$22,200
$6,300
$75,600
3,300
Revenue Gross Annual Income
$75,600
Less Vacancy & Collection Loss (3%) Effective Gross Income
$2,260 $73,340
Expenses Real Estate Taxes (16/17)
$6,082
Water/Sewer
$1,800
Insurance
$1,800
Heat & Hot Water
$3,000
Repairs & Maintenance
$1,000
Total Expenses
68-29
MYRTLE
avenue
$13,682
Net Operating Income (NOI):
$59,658
Capitalization Rate
5.5%
Price Per Square Foot
$326
PRICE REDUCTION: $1,075,000 For Further Information, Please Contact Exclusive Sales Team: Lawrence Sarn Managing Director (718) 935-1821 [email protected]
Chase Reiter Associate (718) 687-4233 [email protected]
CPEX REAL ESTATE | 81 WILLOUGHBY STREET, 8TH FL | BROOKLYN, NY 11201 | TEL: (718) 935-1800 | FAX: (718) 935-1822 | WWW.CPEXRE.COM All information contained herein was provided by or obtained from the owner of the property or from sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. IT IS STRONGLY URGED THAT THE PROSPECTIVE PURCHASER CAREFULLY VERIFY EACH ITEM OF SIZE, RE TAXES, PERMITTED LEGAL USE, AND ALL OTHER INFORMATION PRESENTED HEREIN.
