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Exceptional mixed-use investment opportunity in the heart of Glendale, Queens, located directly on bustling Myrtle Avenue. This income-producing property features a highly visible ground-floor commercial storefront ideal for a variety of retail, service, or professional uses, complemented by a full basement offering abundant storage and operational space. An additional rear outdoor area provides added flexibility and value. Above the commercial space there are two apartments on second and third level. The third floor is a beautifully renovated three-bedroom residential apartment featuring modern finishes throughout. Highlights include a custom-designed bathroom with a touchscreen mirror, tiled shower walls, spa-style shower system, a contemporary kitchen with ceiling-height cabinetry, formal dining room, spacious living room, and three generously sized bedrooms. Second floor apartment has the same layout and potential. Positioned in one of Glendale's most active commercial corridors, the property benefits from constant pedestrian and vehicular traffic, surrounded by established retailers, restaurants, and neighborhood businesses. Convenient access to public transportation and major thoroughfares further enhances its appeal. Whether you're an investor seeking strong rental income and long-term appreciation or an owner-user looking to operate a business while generating residential income, this turnkey mixed-use property presents an outstanding opportunity with excellent return-on-investment potential in a thriving Queens neighborhood.
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Our Executive Mortgage Banker:
$1,550,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,240,000 | $1,240,000 | $1,240,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.133% | 6.183% |
| Monthly Tax Payment | $699 | $699 | $699 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,041 | $7,434 | $10,464 |
| Total Monthly Payment | $7,865 | $8,258 | $11,288 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.