9-03 35th AvenueLong Island City, NY 11101
9-03 35th Avenue
Asset ClassMultifamily, Mixed Use
Overview
Stonefield Real Estate has been retained on an exclusive basis to sell 9-03 35th Avenue, a fully occupied, rent-stabilized, mixed-use building located in the Long Island City neighborhood of Queens, NY.
The four-story walk-up consists of 14 residential apartments and 1 retail storefront, totaling approximately 16,157 square feet. Situated on a 3,835 square foot corner lot, the building features a classic pre-war brick façade and a well-maintained structural foundation. The property benefits from recent capital improvements and efficient management, delivering stable cash flow and minimal deferred maintenance.
Investment Highlights
MIXED-USE TENANCY
- 14 residential units, each with 2-bedroom / 1-bathroom layouts
- 1,247 SF commercial unit leased to Doc Flow Medical PC, a primary care physician’s office
- Commercial unit is fully renovated and compliant with the Certificate of Occupancy
- 100% occupied with strong rental performance
ADDITIONAL LEASEHOLD INTEREST – ROOF RIGHTS
- T-Mobile holds a long-term leasehold interest in the building’s roof for cellular equipment, with a remaining term of approximately 49 years.
- The lease grants T-Mobile the right to install and operate existing cellular equipment.
- Should T-Mobile add additional cellular equipment in the future, the landlord is entitled to receive 40% of the associated revenue.
UTILITIES
- Electric: Separately Metered – Tenant’s Responsibility
- HVAC: Window AC Units – Tenant’s Responsibility
- Heat: Oil Tank – Landlord’s Responsibility
- Water: Boiler – Landlord’s Responsibility
Photo Gallery
9-03 35th AvenueLong Island City, NY 11101
Multi-Family Investment Sales
Listing provided by Revere CRE