Investment Opportunity | Mixed Use | 2,776 SF

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SALE$1,750,000 | 87-97 Corona Ave., Queens, NY 11373

Introducing an incredible investment opportunity! Welcome to 97-56 Corona Ave, a stunning commercial property with immense potential. PROPERTY NAME: 97-56 Corona Ave PRICE: $1,750,000 This two-story building offers a total of 2,776 SF of space, including a store and three apartments. The units are currently generating a steady stream of income, with a combined monthly rent of $10,650 and an annual rent of $127,800. Located in a prime location in Elmhurst, this property boasts a desirable corner lot with dimensions of 45.42 ft x 62.25 ft. The zoning is R5, allowing for various commercial or residential development options. With a FAR as built of 1.95, the potential for maximizing the property’s value is immense. Investors and developers will appreciate the assessed value of $1,495,000 and reasonable taxes of $8,000. The net operating income after deducting expenses amounts to $108,500, making this property an attractive investment with great returns. Don’t miss out on the opportunity to own this exceptional commercial property in Corona, NY. Contact us today to schedule a viewing and explore the various possibilities this property has to offer.

Property Features

  • Property Name: 97-56 Corona Ave.
  • Sq. ft.: 2,776
  • Monthly Rent:$10,650
  • Annual Rent:$127,800
  • Zoning: R5
  • Reasonable Taxes: $8,000
  • Net Operating Income:$108,500
  • Assessed Value: $1,495,000
  • Dimensions: 45.42 ft x 62.25 ft.

 

All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Courtesy of Prime Realty

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