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    143-35 Sanford Ave Flushing, NY 11355

    Sponsored
    For Sale
    $9,980,000

    Prime Flushing location, 23-unit potential.

    Property size:
    17,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional development opportunity presents a prime 7,000 square foot lot in the heart of Flushing, New York, zoned R7-1. Currently occupied by a three-story, 17,000 square foot building with a full basement, the property boasts an approved plan for a nine-story, 39-unit condominium development (38 residential units and one community facility), totaling 32,406 square feet. The existing building, situated on the north side of Sanford Avenue (143-35 Sanford Ave, Flushing, NY 11355), features a mix of 18 residential and 5 commercial units, all operating on a free-market basis, and currently has a month-to-month tenant. This redevelopment project offers immediate potential, with the approved plan allowing for construction to commence promptly. The property's strategic location offers easy access to the 7 train's Main Street station, ensuring high desirability and strong rental prospects. The asking price is $9,980,000, translating to $587.06 per square foot and $433,913.04 per unit based on the approved plan. This presents a unique chance to capitalize on the thriving Flushing market and realize significant returns on investment. The property is ready for immediate development, offering a rare combination of income-producing assets and substantial future appreciation potential.

    Property Features for 143-35 Sanford Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    17,000 SF

    Building Details

    Buildings
    1
    Stories
    3
    Units
    23

    HighLights

    • Prime Downtown Flushing location, near the 7 train Main Street Station.
    • 7,000 SF R7‑1 zoned lot with approved plans for a 32,406 SF condo development.
    • 17,000 SF existing building with 18 residential and 5 commercial units, all free‑market.
    • Income‑producing property with significant development potential and appreciation upside.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8218383
    Latitude
    40.7587419

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    FAQs

    What type of property is this?
    Multifamily property - Prime Flushing location, 23-unit potential.
    Where is this multifamily property located?
    The property is located at 143-35 Sanford Ave Flushing, NY.
    What is the asking price?
    The asking price for this property is $9,980,000.
    What are key features of this property?
    This property features: Prime Downtown Flushing location, near the 7 train Main Street Station.; 7,000 SF R7-1 zoned lot with approved plans for a 32,406 SF condo development.; 17,000 SF existing building with 18 residential and 5 commercial units, all free-market.
    (646) 889-9988
    Request Owner's contact information
    143-35 Sanford Ave Flushing, NY 11355
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    Flushing, NY 11355
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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
    143-35 Sanford Ave Flushing, NY 11355
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