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    23-03 40Th Ave Long Island City, NY 11101

    For Sale
    $2,300,000

    COMMERCIAL - Long Island City, NY

    Lot size:
    0.08 Acres
    Days on Market:
    30
    Last Refresh:
    Dec 6 at 7:06 am

    Property Features for 23-03 40Th Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.08 Acres

    Utilities

    Sewer type
    Public Sewer

    E REALTY INTERNATIONAL CORP. (718) 886-8110 [email protected]

    Listing agent Xuxin Chen (929) 615-2828

    Listing date Nov 7, 2025

    MLS# 932887 Listing URL

    Copyright © 2025 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Long Island City Commercial Land

    The property at 23-03 40th Ave in Long Island City, NY, offers an opportunity for investors and developers. Zoned M1-2 and R5D, the sizable lot is suited for redevelopment into multifamily housing or a mixed-use concept. The property's location near major transit lines and local amenities enhances its appeal for future residents and tenants. The property is currently tenant-occupied, with the tenant paying $8,000 monthly. The current lease ends on 09/30/2026. The property is located in Queens.
    Location Intelligence

    Current Use by Public Records

    Neka Auto Repair Mechanic

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.939186
    Latitude
    40.754311

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    FAQs

    What type of property is this?
    Commercial land - Commercial land in a rapidly evolving Queens submarket.
    Where is this commercial land located?
    The property is located at 23-03 40Th Ave Long Island City, NY.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: - M1-2, R5D zoning allows for multifamily housing or mixed-use redevelopment.; - Sizable lot footprint provides ample space for development.; - Strategic location in a high-demand, low-supply Queens submarket.
    (929) 615-2828
    Request Owner's contact information
    23-03 40Th Ave Long Island City, NY 11101
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    Long Island City, NY 11101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23-03 40Th Ave Long Island City, NY 11101
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