For the first time in 80 years this mixed-use building ideally situated at the northwest corner of Broadway and 21st Street is being offered for sale. The property is uniquely situated across the Street from the Broadway Shopping Center and the famous Bel Aire Diner of Astoria, and is along the same corridor as several newly constructed luxury apartment buildings. The property also sits just five blocks from the N/Q train at 31st Street and Broadway and is directly in between the entrances to the Queensboro and RFK Bridges on 21st Street.
The 5,000 square foot property consists of approximately 2,923 square feet of retail space on the ground floor, two garages, and two apartments upstairs with a total of 1,600 square feet. Currently there are two tenants who occupy approximately 1,767 square feet for a total of $6,761 per month offering tremendous upside to an investor or developer. With zoning designations of C2-3/R7A and C2-3/R7X, the property has approximately 14,500 buildable square feet, or an additional 9,500 square feet of available air rights. Due to its prime location, vacancies, and available air rights, this property poses an excellent and rare investment opportunity for an investor, developer, or 1031 exchange buyer.