3745 75th ST, Jackson Heights, NY 11372
3745 75th ST, Jackson Heights, NY 11372
3745 75th ST, Jackson Heights, NY 11372
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Randy Reis

Randy Reis

+1(917) 336-1118
$2,200,000
Est. payment /mo
1,999 Sqft Lot
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UPDATED:

Key Details

Property Type Other Types

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1061781

Rental Info No

Year Built 1988

Annual Tax Amount $56,008

Lot Size 1,999 Sqft

Acres 0.0459

Property Sub-Type Multi Family

Source onekey2

Property Description

MIXED-USE INVESTMENT | JACKSON HEIGHTS | FREE MARKET | STEPS TO THE 7, E, F, M, R | Rare opportunity to own a fully free-market, mixed-use building in the heart of Jackson Heights, one block from the 74 St–Broadway / Jackson Hts–Roosevelt Av transit hub (E, F, M, R, 7). This 4-story, 5,880 SF masonry building on a 20' x 100' (2,000 SF) lot features a recently leased lower-level commercial space and four spacious free-market apartments: one 3-bedroom and three 4-bedroom units. The lower-level commercial space is built out as a spa with a reception area, 7 examination rooms and 2 half baths, and is leased through 5/31/2031. The residential units are large, with 2-bath layouts on the upper floors, and staggered lease expirations provide stability along with upside. Current gross rent is $207,300, with a pro forma gross of $244,681 at market rents. Real estate taxes are $56,289; insurance $7,774, utilities $12,375, water/sewer $5,289 and maintenance/super $7,850. Total expenses are $89,577, for a current NOI of $117,723 (5.35% cap rate), rising to a pro forma NOI of $155,104 (7.05% cap rate). Zoned R5 with Walk Score 99 and Transit Score 100, this is a strong income-producing asset in one of Queens' most established, high-demand rental markets. Asking $2,200,000 ($374 PSF). Showings by appointment only; please do not disturb tenants.

Location

State NY

County Queens

Interior

Heating Baseboard, Natural Gas, Separate Meters

Cooling Electric, Wall/Window Unit(s)

Flooring Ceramic Tile

Fireplace No

Appliance Convection Oven, Gas Oven, Gas Range, Microwave, Refrigerator

Exterior

Parking Features None

Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected

Building

Story 4

Sewer Public Sewer

Water Public

Structure Type Brick

Schools

High Schools Queens 30

School District Queens 30

Others

Special Listing Condition None

Read Less Info
OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS
Listed by Azure Realty Group NY LLC • Sanja Stupar

NEARBY SCHOOL & BUSINESS

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Randy Reis

Randy Reis

+1(917) 336-1118

Team Leader License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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