5-66 Onderdonk Ave

Corner mixed-use building located in a strong residential and retail corridor, this free market, income-producing asset features a fully gut-renovated structure totaling approximately 5,625 SF. The first floor spans roughly 25’ x 100’, with the second and third floors each measuring 25’ x 64’. The property includes four spacious two-bedroom apartments with hardwood floors, two established commercial spaces (daycare and restaurant), and a fully finished basement with two offices and a private bathroom. The building generates strong in-place income of $255,954 annual gross with upside potential, delivering a $202,597 NOI, a 6.59% cap rate at asking, and a 7.06% potential cap rate. Commercial tenants contribute approximately $10,536 annually, representing 40% of property taxes and 50% of DEP charges. All boilers have been replaced within the last five years, with plumbing, electrical systems, and exterior masonry upgraded within approximately the last 20 years. The property is well maintained, professionally managed, mechanically modernized with a low deferred maintenance profile, and benefits from major capital improvements already completed. Surrounded by established restaurants, cafés, and neighborhood businesses, and located minutes from Bushwick and Williamsburg and blocks from the L and M trains, this is an exceptional long-term investment opportunity in one of Queens’ most sought-after neighborhoods.