45-44 Vernon Blvd - Storefront Retail/Residential FOR SALE


Long Island City, NY 11101
$4,800,000 USD
917-449-0181
45-44 Vernon Blvd, Long Island City, NY for Sale
$4,800,000 USD
Storefront Retail/Residential - FOR SALE
1/11
null | 6.61% Cap Rate

45-44 Vernon Blvd
Long Island City, NY 11101


HIGHLIGHTS

  • 4 Fully Renovated & Leased 1 Bed/1 Bath Free-Market Apartments. 2,500 SF Retail Space Can Be Available for Owner/User.
  • The building totals 6,250 SF. There is 5,000 SF of above ground square footage as well as a 1,250 SF basement space with direct street access.

OVERVIEW

Investment or Owner User Opportunity: 4-Unit Apartment Building with Retail Space in Hunters Point, NY Welcome to 45-44 Vernon Boulevard, an exceptional investment opportunity in the vibrant Hunters Point neighborhood of New York. This property, offered for the first time in a generation, consists of a four-unit boutique apartment building paired with a retail space, all situated on a 25' by 100' lot. All apartments are free market and fully rented at market rates, providing a consistent rental income stream. Additionally, the retail space, though leased through December 2025, can be delivered vacant, offering flexibility for potential new owners to explore various commercial opportunities. Each of the four spacious 1-bedroom, 1-bath units is meticulously designed to offer comfortable living. Featuring well-appointed kitchens, inviting living areas, and well appointed bathrooms. The ground-floor retail space also presents an excellent opportunity for diverse business ventures. Located on Vernon Boulevard, this property enjoys high visibility and foot traffic, ensuring maximum exposure for any retail business. Hunters Point's thriving atmosphere, with trendy restaurants, shops, and cafes, adds to the appeal, attracting both residents and customers to the retail space. Nearby parks and waterfront areas offer recreational opportunities and stunning views of the city skyline. Investment or Owner User Opportunity. With its strategic location, transportation is convenient with nearby subway stations, ferry terminal, bus routes, and major highways facilitating easy access to Manhattan and other boroughs, including just one stop to Grand Central Station on the #7 Subway. Whether you're a seasoned investor or seeking a property with multiple income streams, 45-44 Vernon Boulevard presents an enticing opportunity. Capitalize on the current rental income and explore the potential of the retail space. Don't miss out on this chance to invest in a thriving neighborhood and maximize your returns. Contact us today to learn more and arrange a viewing of this remarkable property. Richard Balzano 917-449-0181

FOR SALE DETAILS

PRICE

$4,800,000 USD

PRICE/SF

$960 USD /SF

CAP RATE

6.61%

% LEASED

100%

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Storefront, Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R6A

APN/PARCEL ID

00026-0002

ASK ABOUT THIS PROPERTY

Richard BalzanoDouglas EllimanMore Info
917-449-0181

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Richard BalzanoDouglas EllimanMore Info
917-449-0181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.