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Commercial Property for Sale with Development Potential on Queens Boulevard

42-25 Queens Boulevard, Sunnyside
Description

The subject is a 16,200 square foot property with three retail tenants along Queens Boulevard and a dentist’s office on 43rd Street. The property is located on the north side of Queens Boulevard and directly in between the 40th Street and 46th Street subway stops on the 7 train. With a zoning designation of C1-4/R7A, the property also has an F.A.R. of 4.0 and an additional 52,224 square feet of available air rights for residential development upstairs. The current tenancy includes a bar/restaurant, a movie theatre, a dentist’s office and a bank on the corner. The 3,500 square feet occupied by the bank will be delivered vacant. The current income not including projections for the vacant corner averages approximately $20 per square foot, or more than 50% below the average retail rates of $40-$50 per square foot, offering substantial upside to an investor.

Listing Highlights
Price:$6,650,000
Type:Retail
Pets:No Pets
Status:Closed
ID:61219
Agents