LIBERTY AVE

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Mixed Use Renovated Investment Property in Ozone Park at 6.5% CAP Rate!

Real Street has been retained exclusively for the sale of 88-08 Liberty Ave in the Ozone park Section of Queens. Located on the busy retail corridor of Liberty Ave and just steps from the A express train and just off the Belt Pkwy, Conduit, and 10 minutes from the AquaDuct Racetrack & Casino.

The subject property consists of solid paying tenants including the ground floor medical tenant who has been there since 2015. A tutoring company in the basement which is another commercial space with a new CO to be delivered. And a corporate backed residential tenant on the top floor.

The ground level is built the full property size of just over 20 Ft x 97 Ft (~1886 Sq Ft) and was renovated before the current tenant moved in including central air, glass storefront, new bathrooms etc. Below in the basement is a beautifully renovated office space (~1,247 Sq Ft) with 10' ceilings, polished concrete floors, central air, and 2 full bathrooms. The residential apartment is a very spacious (~1,247 Sq Ft) 3 bedroom apartment with a large terrace.

The tenants all pay their own utilities and the main retail tenant pays a portion of the property RE taxes as well.

The subject property has plenty of room to increase the rents as the leases expire, including the residential apartment which expires at the end of 2022. The retail is paying $24 PSF with the average current rents being about $10 more per square foot.

Mixed Use Investment Property

2 Commercial Tenants in Place

1 Residential

100% Rent Collection

Large Free Market Apt

Retail is built full LOT 20.79' x 97.13'

RENT:
OFFICE: $2,200/month
RETAIL: $2,3686.49/month + Taxes
APARTMENT: $2,800/month