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  • Rare Mixed-Use Opportunity in Prime Ridgewood Location!Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2, 024 sq ft on a 23’ x 88’ lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants. The Commercial space ( currently rented at $3, 500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities.Projected pro forma gross income of $146, 700/year, with estimated expenses of $13, 500/year, brings a potential net income of $133, 200, yielding a 7% Cap rate at full market rents.Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can’t miss opportunity in on of queens’ most desirable mixed-use corridors. 2
    69-38 Myrtle Avenue Glendale, NY 11385
    $1,499,999
    Mixed Use Commercial ML# 867157
    Rare Mixed-Use Opportunity in Prime Ridgewood Location!Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2, 024 sq ft on a 23’ x 88’ lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants. The Commercial space ( currently rented at $3, 500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities.Projected pro forma gross income of $146, 700/year, with estimated expenses of $13, 500/year, brings a potential net income of $133, 200, yielding a 7% Cap rate at full market rents.Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can’t miss opportunity in on of queens’ most desirable mixed-use corridors.
    Presented By: eXp Realty  888-276-0630
    Call Today: or  Email: Liberty Realty
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Victor Jalinos
Victor Jalinos
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Victor Jalinos Licensed Associate Real Estate Broker Office: 201-610-1010 Cell: 201-394-1537 Fax: 201-526-4520 1 MARINE VIEW PLAZA, HOBOKEN, New Jersey, 07030
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