UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 969119
Rental Info No
Year Built 1930
Annual Tax Amount $22,662
Lot Size 1,986 Sqft
Acres 0.0456
Property Sub-Type Multi Family
Source onekey2
Property Description
Exceptional opportunity to acquire a prime 3,340 SF mixed-use property on a high-visibility corner along Liberty Avenue in South Richmond Hill. Offered at $1,495,000 ($447/SF), this asset features a projected $96,357 NOI (6.45% Cap Rate) with significant upside potential.
Ground-Floor Commercial (1,840 SF): Delivered vacant and outfitted with critical, high-value second-generation restaurant infrastructure—including pre-existing commercial gas lines, high-capacity hood venting, and walk-in cooler capability. Saves incoming operators or tenants hundreds of thousands in buildout costs.
Residential Units (1,500 SF Total): Two spacious 750 SF 2-Bedroom / 1-Bathroom apartments on the upper floor. Unit 1 is delivered vacant and newly renovated, ready for immediate top-of-market leasing. Unit 2 provides steady in-place income on a flexible month-to-month lease.
Zoning & Upside: R6B / C2-3 zoning with ~620 SF of unused FAR. Transitioning the commercial space to a Triple-Net (NNN) lease structure pushes projected yields beyond 7.2% Cap Rate.
Ideal for owner-operators, value-add investors, or 1031 exchange buyers seeking immediate cash flow along a high-traffic Queens commercial corridor. Close to A-train transit and major thoroughfares.
Location
State NY
County Queens
Rooms
Basement Full
Interior
Heating Natural Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features On Street
Utilities Available Electricity Available, Sewer Available
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
NEARBY SCHOOLS & PROPERTIES
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.