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19-17 Ditmars Blvd 3,600 SF 100% Leased Retail Building Astoria, NY 11105 $1,950,000 ($541.67/SF) 7.14% Cap Rate
Investment Highlights
- Free-market, renovated residential: 4 upgraded units positioned for stable tenancy and strong rent growth prospects.
- Systems are up to date: Reduced near-term capex risk
- Commercial upside with clean story: Office tenant default provides a path to vacant delivery and re-tenanting.
- Strong neighborhood draw: Half-block to a park and a quick walk/citibike ride to the N/W and R subway, providing fast access into Manhattan.
Executive Summary
19-17 Ditmars Blvd is a turnkey, systems-upgraded mixed-use asset in a strong Ditmars/Astoria corridor location. The property features four renovated, free-market apartment units potentially delivered vacant at closing. The vacant ground floor commercial is currently a white box with exclusive rights to a full height basement and exclusive back yard access. Buyers have near term opportunity by filling this commercial space on a corridor that has an established marketplace for food establishments and early childhood care.
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- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,600 SF
Building Class
C
Year Built/Renovated
1931/2017
Price
$1,950,000
Price Per SF
$541.67
Cap Rate
7.14%
NOI
$139,230
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.65
Lot Size
0.05 AC
Zoning
R5D - A contextual, low-to-medium density residential district allowing one- to multi-family homes, characterized by specific bulk regulations (FAR 2, max height 40-45 ft), encouraging development matching neighborhood scale.
Frontage
21’ on Ditmars Blvd
Exceptionally walkable
100/100
Moderately drivable
60/100
Strong public transit
80/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00892-0094 | Improvements Assessment | $92,028 |
| Land Assessment | $120,688 | Total Assessment | $212,716 |
Property Taxes
Parcel Number
00892-0094
Land Assessment
$120,688
Improvements Assessment
$92,028
Total Assessment
$212,716
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