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

Mixed-Use Investment Opportunity – Corner Property
39-02 29th Street | Long Island City, Queens, NY
Property Overview
Rare opportunity to acquire a high cash-flowing corner mixed-use property in the heart of Long Island City, Queens. This well-located asset offers strong in-place income, free-market residential units, and a high-ceiling commercial space, making it ideal for investors seeking immediate cash flow and long-term appreciation.
Positioned on a 25’ x 100’ lot, the property benefits from excellent visibility, multiple income streams, and strong tenant demand in one of New York City’s fastest-growing neighborhoods.
Property Details---------------------------------------------
Lot Size: 25 ft x 100 ft
Property Type: Mixed-Use (Residential + Commercial)
Garage: 4-car garage
Utilities: Separate gas & electric meters for each unit
Boiler: Approx. 4 years old
Unit Breakdown
1st Floor (Commercial):
Approx. 2,500 SF retail space
14 ft ceilings
1,250 SF basement (9 ft ceilings)
2nd Floor (Residential):
Financial Overview-------------------------------------------
Gross Annual Income: $270,000
Operating Expenses: $41,890
Net Operating Income (NOI): $228,110
Cap Rate: 6.25%
Investment Highlights--------------------------------------------------
Strong in-place cash flow (6.25% cap rate)
Free-market residential units (no rent stabilization)
Prime corner mixed-use property
High-ceiling commercial space ideal for retail or showroom
Additional income potential from 4-car garage
Low operating expenses with separately metered units
Located in a high-growth rental and commercial market
Two (2) free-market 2-bedroom apartments
10 ft ceilings
3rd Floor (Residential):
Two (2) free-market 2-bedroom apartments
Investment Highlights-----------------------------------------------------
Strong in-place cash flow (6.25% cap rate)
Free-market residential units (no rent stabilization)
Prime corner mixed-use property
High-ceiling commercial space ideal for retail or showroom
Additional income potential from 4-car garage
Low operating expenses with separately metered units
Located in a high-growth rental and commercial market
Location Overview –-------------------------------------- Long Island City, Queens
Located in the highly desirable Long Island City neighborhood, the property benefits from immediate access to transportation, retail corridors, and a rapidly expanding residential base. The area continues to experience significant development and investment, attracting both commercial tenants and residents.
With close proximity to Midtown Manhattan and strong infrastructure, Long Island City remains one of the most dynamic and resilient submarkets in New York City.