Retail Condo at 116-14 Myrtle Avenue Listed by Top Brokers
FOR SALE
$3,200,000
116 14 Myrtle Avenue, Richmond Hill, NY 11418
12,033 SF
Square Feet
$266
PPSF
6.20%
CAP
Property Description
NOI
$198,400
Cap Rate
6.20%
- Great Woodside Location – 2 blocks east of Roosevelt Avenue ~$250/SF & ~6.6 CAP
- Separate commercial / retail entrance.
- Fully leased and cash flowing – ideal 1031 exchange property.
- Strong tenant with three neighborhood locations
~200 feet to the 61st Avenue 7-train station & Woodside LIRR
~$109,000 Average Annual Household Income
~$75,000 Median Annual Household Income
~10,000 Annual Average Daily Traffic (AADT) - Ideally located near many major roadways such as Roosevelt Avenue, Queens Boulevard, and Northern Boulevard, and close to major highways – Brooklyn Queens Expressway and Long Island Expressway.
Property Details
Asset Type
Retail
Zoning
R6A, C1-3
Neighborhood
Richmond Hill
Submarket
Richmond Hill
ZIP
11418
Listing Type
sale
Offering Memorandum
30 years
10 years
Net Operating Income (NOI)
$314,762
Debt Service Coverage Ratio (DSCR)
1.73x
Cap Rate
9.84%
Cash Flow (Annual)
$132,726
Cash-on-Cash Return
16.59%
Monthly Debt Service
$15,170
Annual Debt Service
$182,036
View on Map
Address
116 14 Myrtle Avenue
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Richmond Hill Retail Market Snapshot
Boundary boundary · Retail · Sale
No investors found in this market.
