19-17 Ditmars Blvd — Sale in Astoria, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Astoria, NY 11105

Investment Figures

Cap rate
1.12%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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 delivered vacant at closing, above a ground-floor commercial space currently built out as an office. The current commercial tenant has not completed tenant improvements or taken possession, creating a near-term opportunity to deliver the commercial space vacant and re-lease at market (or reposition to a more durable neighborhood use). Investment Highlights: • Free-market, renovated residential: 4 upgraded units positioned for stable tenancy and strong rent growth prospects. Seller represents that units will be delivered vacant at closing • Commercial upside with clean story: Office tenant default provides a path to vacant delivery and re-tenanting. • Systems are up to date: Reduced near-term capex risk • 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.

Market Context

This mixed use in Astoria, NY is listed for sale. It is offered at an approximate 1.1% capitalization rate, a key benchmark for income-producing mixed use assets. It has been on the market for 102 days. Compare it against other mixed use listings for sale in Astoria, NY — view the full market.

Contact

  • Matthew Rosenzweig
  • Jakub H. Nowak

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