148-04 35th Avenue, Queens, NY 11354

Building Details

Architectural style

Other

Listing agent Steve Zhu

Listing office Compass 3rd floor 90 Fifth Avenue, 3rd Floor, New York, NY Show Phone

Listing date Jun 17, 2025

Report an issue

MLS# 11519410

Copyright © 2026 My State 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

This offering is a package of three adjacent mixed-use buildings with redevelopment potential. The property is situated in an R7-1 zoning district with an FAR of 4.8, supporting future residential expansion or repositioning. Currently, there are 6 free market residential units, all of which are leased at more than 20% below market rent, creating an opportunity to align rents over time while maintaining occupancy.

The buildings are located at 148-04 35th Avenue in Queens, NY 11354, in the heart of Downtown Flushing. The site is presented as part of a multi-building footprint, giving an owner control of contiguous structures for long-range planning.

For investors or developers looking for a multi-building residential redevelopment platform, the combination of R7-1 zoning, a stated FAR of 4.8, and existing leased units can support a strategy that balances near-term tenancy with repositioning of the residential income stream. As presented, the asset offers a straightforward path to evaluate redevelopment options while retaining stable occupancy during planning and implementation.

Suggested Use

Nursing Home Nursing Home Bed & Breakfast Pet Grooming Service (Bike/Boat/Book/etc) Store Restaurant Garden Center Catering Service Auto Parts Store (Bike/Boat/Book/etc) Store

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

Location Insight

• Map
• Local Demand

City

Queens

County

Queens

State

New York

Longitude

-73.939548

Latitude

40.7626

Nearby Similar for Sale

• 

  $999,000

  2,880 SF

  Spacious Two-Family Home in Queens

  Semi-detached two-family home with income potential and convenient location.

  10-37 BAY 31ST Street, Queens, NY 11691

  View Details
• 

  $1,449,999

  2,631 SF

  Spacious Multifamily Home with Pool

  Multifamily home in Queens with pool and ample parking.

  125-11 7th Avenue, Queens, NY 11356

  View Details
• 

  $999,000

  3,705 SF

  Brick Five-Unit Apartment Building

  Five 1-bedroom apartments with two currently vacant, plus private driveway, garage, common laundry, and separate utilities.

  137-16 88th Street, Queens, NY 11417

  View Details
• 

  $2,480,000

  4,097 SF

  Detached Brick Two-Family Residence

  Fully detached two-family brick home with side-by-side living, double-height space, balconies, and a private driveway.

  1124 128th Street, Queens, NY 11356

  View Details
• 

  $1,500,000

  1,440 SF

  Queens Village Multifamily Investment Property

  Fully rented, renovated four-family house in Queens Village.

  99-02 212th Street, Queens, NY 11429

  View Details
• 

  $1,680,000

  4,300 SF

  Upgraded Six-Family Residence, Queens

  Income-producing six-family property with recent upgrades and private parking.

  22-08 120th Street, Queens, NY 11356

  View Details
• 

  $1,090,000

  3,000 SF

  Mixed-Use Building with Rear Parking

  Two residential units over a ground-floor storefront, with a finished basement and rear parking for up to four cars.

  198-03 Hollis Ave, Queens, NY 11412

  View Details
• 

  $1,250,000

  2,178 SF

  Queens Two-Family Home Value-Add Opportunity

  Two-family home on a 48' x 100' lot.

  23-40 124th Street, Queens, NY 11356

  View Details
• 

  $900,000

  2,206 SF

  Renovated Triplex in Queens, NY

  Newly renovated triplex with versatile living spaces in Queens.

  341 Beach 67th Street, Queens, NY 11692

  View Details
• 

  $15,000,000

  21,445 SF

  NYU Medical Investment Opportunity

  Fully leased medical office building in Queens, NY.

  228-02 Merrick Boulevard, Queens, NY 11413

  View Details
• 

  $190,000

  1,300 SF

  Restaurant Property with Basement Storage

  Restaurant business for sale with basement storage and a rent structure that includes property tax.

  Withheld Street, Queens, NY 11355

  View Details
• 

  $4,599,000

  5,220 SF

  Sunnyside Corner Commercial Property For Sale

  Income-producing property with gas station, convenience store, and repair shop.

  39-04 Skillman Ave, Queens, NY 11104

  View Details

FAQs

What type of property is this?

Apartment building - Three adjacent mixed-use buildings in an R7-1 district with FAR 4.8 for redevelopment or repositioning.

Where is this apartment building located?

The property is located at 148-04 35th Avenue Queens, NY.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: Package of 3 adjacent mixed‑use buildings in Downtown Flushing (Queens); R7‑1 zoning district with FAR 4.8; Includes 6 free‑market residential units