Corner Residential Development
For Sale
Contact for pricing
38-38 12th St, Queens, NY 11101
Corner lot zoned R5 Infill, generating rental income through 12/31/26, with a measured FAR capacity for residential development.
Property SizeContact for details
Days on Market121
Property Features for 38-38 12th St
General Information
Standard status
Active
Property subtype
Retail
Zoning
R5 Infill
Building Details
Tenancy
Single
Listing Agency:
Landair Advisors
Listed By:
Alexandre Goulet · License #NY1324
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: May 7 at 4:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Landair Advisors
Investment Insights
Based on property information with market context.
Located at 38-38 12th St, Queens, NY 11101, this corner residential development lot spans 6,147 square feet and is zoned R5 Infill. The site’s Residential Floor Area Ratio (FAR) of 1.65 supports up to 10,142 square feet of market-rate residential development, subject to applicable approvals.
The property is currently tenanted through 12/31/26, producing annual gross income of $109,886.52 and net income of approximately $100,000 per year. An additional 382 square feet with an easement for buyer’s use is adjacent to the lot, expanding development flexibility.
The area is noted as having undergone recent rezoning, which the offering states allows for higher FAR nearby. The site is also described as being close to multiple modes of transportation, including subway and bus service.
The property is currently tenanted through 12/31/26, producing annual gross income of $109,886.52 and net income of approximately $100,000 per year. An additional 382 square feet with an easement for buyer’s use is adjacent to the lot, expanding development flexibility.
The area is noted as having undergone recent rezoning, which the offering states allows for higher FAR nearby. The site is also described as being close to multiple modes of transportation, including subway and bus service.
Key Highlights
- 6,147 SF corner lot at 34‑60 12th Street, Long Island City
- Zoned R5 Infill with residential FAR of 1.65, allowing for 10,142 SF of market‑rate residential development
- Currently tenanted through 12/31/26, generating $109,886.52 annual gross income
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Corner lot zoned R5 Infill, generating rental income through 12/31/26, with a measured FAR capacity for residential development.
Where is this residential land & home lot located?
The property is located at 38-38 12th St Queens, NY.
What are key features of this property?
This property features: 6,147 SF corner lot at 34‑60 12th Street, Long Island City; Zoned R5 Infill with residential FAR of 1.65, allowing for 10,142 SF of market‑rate residential development; Currently tenanted through 12/31/26, generating $109,886.52 annual gross income
