Property Description

Prime Astoria Mixed-Use Investment & Development Opportunity!Excellent opportunity for developers and investors in a highly desirable Astoria location. This mixed-use property features 2 residential units plus 1 commercial storefront, offering strong existing rental income along with significant future development potential.Situated on a 25 x75 lot with R7X / C2-3 zoning, the property presents an attractive opportunity for potential redevelopment into a larger mixed-use building, subject to zoning, DOB requirements, and approvals.The existing building consists of 3 stories plus a full basement, offering approximately 3,432 sq. ft. of interior space with a building footprint of approximately 22x52. Each residential unit features 3 bedrooms and 1 full bathroom. The property is separately equipped with 3 electric meters and 3 gas meters and benefits from relatively low property taxes.Conveniently located near the N/W subway at Astoria Blvd, with easy access to shopping, restaurants, transportation, and neighborhood amenities.An excellent opportunity for investors, developers, 1031 exchange buyers, or owner-investors seeking strong rental income, attractive cap-rate potential, and long-term redevelopment upside in one of Astoria's prime locations.

Property Features

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