Miriam Herbert
MLS#1016032
STATUSActive
PROPERTY TYPECommercial -
SCHOOLQueens 27
Property Description
**Updated Cap Rate Calculation*** Annual Gross Income: **$125,741*** Annual Expenses: **$46,487*** Net Operating Income (NOI): **$79,254*** Asking Price: **$1,299,000****Cap Rate = NOI Purchase Price 100****$79,254 $1,299,000 = 6.10% Cap Rate**---### Property RemarksExceptional investment opportunity in the heart of Richmond Hill. This well-maintained 6-unit multifamily apartment building offers approximately 4,800 SF across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property generates strong annual income of $125,741 with a net operating income of $79,254, delivering an attractive **6.10% cap rate** at the asking price. Located in a high-demand rental market with convenient access to transportation, shopping, schools, and major thoroughfares, this asset provides stable cash flow with long-term appreciation potential. Ideal for investors seeking a turnkey income-producing property in a desirable Queens neighborhood.
Property Features
Property Type: Commercial -
Basement: Full, Unfinished, Walk-Out Access
Basement: Yes
Cooling: None
Heating: Oil
Lot Size: 0.06 Acres
Taxes: $24,233
Year Built: 1930
Feature Descriptions
Building Area Total: 4800
Exterior: Brick
On Market Date: 2026-06-19
Parcel Number: 09303-0019
Parking Features: On Street
Property Attached Y/N: 1
Rental Term: Monthly
Sewer: Public Sewer
Units: 6
Utilities: Electricity Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Available
Water: Public
Local Schools
School District: Queens 27
Listed By / Shown By
Listing By
Agency Name: Elite Realty of USA Inc
Agency Contact: 718-551-9800
Shown By
Agent Name: Miriam Herbert
Agent Phone: Cell: (516) 314-5271
Agency Title: Coldwell Banker American Homes
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8732 114th Street | MLS# 1016032
This commercial property located at 8732 114th Street, Richmond Hill, NY 11418 is currently listed for sale with an asking price of $1,299,000. 114th Street is located within the Queens 27 school district. Search Richmond Hill real estate on miriamherbert.cbamhomes.com today.