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MIXED USE W/ 4FM UNITS + VACANT STORE+4GARAGE 3902 29th St 4,875 SF 100% Leased Retail Building Long Island City, NY 11101 $3,675,000 ($753.85/SF) 6.01% Cap Rate
INVESTMENT HIGHLIGHTS
- FREE MARKET APARTMENTS, INCREASE IN RENTAL INCOME
- INVESTMENT OR INCOME GENERATING
- EXCELLENT LOCATION Minutes to Manhattan Close to Queensboro, 21st street bridge, Triboro bridge and Grand central parkway
- VACANT STOR, PREFECT FOR AN END USER
- CORNER PROPERTY / INCLUDES 4 CAR GARAGE
EXECUTIVE SUMMARY
CORNER 4 FAMILY MIXED USE IN LONG ISLAND CITY
Rare opportunity – high cash flowing income property in the heart of Long Island City.
Projected Cap Rate is 8-9%.
1st Floor: (2,500sqft) Commercial Space -14feet ceiling+(1250sq ft Basement: 9 feet ceiling) Market Rent $12,000/m
2nd Floor:10 feet ceiling, 2 units, 2 bedroom Apartment. FREE MARKET
3rd Floor- 2 bedroom Apartments on each floor, Free Market
4 Car Garage
Property tax: 27,590/year. Insurance: $4000/year.
Lot: 25’ by 100’.
Every unit has own meter for gas and electric.
4 years old boiler.
Convenient location
Rare opportunity – high cash flowing income property in the heart of Long Island City.
Projected Cap Rate is 8-9%.
1st Floor: (2,500sqft) Commercial Space -14feet ceiling+(1250sq ft Basement: 9 feet ceiling) Market Rent $12,000/m
2nd Floor:10 feet ceiling, 2 units, 2 bedroom Apartment. FREE MARKET
3rd Floor- 2 bedroom Apartments on each floor, Free Market
4 Car Garage
Property tax: 27,590/year. Insurance: $4000/year.
Lot: 25’ by 100’.
Every unit has own meter for gas and electric.
4 years old boiler.
Convenient location
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$27,600
|
$5.66
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $27,600 |
| Annual Per SF | $5.66 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,875 SF
Building Class
C
Year Built/Renovated
1930/2021
Price
$3,675,000
Price Per SF
$753.85
Cap Rate
6.01%
NOI
$220,909
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.93
Lot Size
0.06 AC
Opportunity Zone
Yes
Zoning
M1-2/R5D, LIC - MIXED USE
Parking
4 Spaces (0.82 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00398-0025 | Improvements Assessment | $129,037 (2025) |
| Land Assessment | $109,347 (2025) | Total Assessment | $238,384 (2025) |
PROPERTY TAXES
Parcel Number
00398-0025
Land Assessment
$109,347 (2025)
Improvements Assessment
$129,037 (2025)
Total Assessment
$238,384 (2025)
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Presented by
Lot & Units Realty Inc
MIXED USE W/ 4FM UNITS + VACANT STORE+4GARAGE | 3902 29th St
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