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    40-44 82Nd St Elmhurst, NY 11373

    For Sale
    $2,950,000

    Vacant, Multi-Story Retail Opportunity

    Property size:
    4,262 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Elmhurst, Queens investment property, located at 40-44 82nd Street, presents a rare opportunity for owner-users. The completely vacant, two-story building, constructed in 1931, offers 4,262 square feet of space across three units. The ground floor is ideally suited for retail use, given its prime location at the crossroads of Corona, Jackson Heights, and Elmhurst. The second floor provides versatile office space, while the third floor features a spacious three-bedroom apartment. This unique combination of commercial and residential space offers significant potential. The property sits on a 2,011 square foot lot (18.8' x 118.98'), with a building size of 20' x 60'. The permitted zoning is R6, C1-3, allowing for a maximum buildable square footage of 4,262. Additional development potential may exist, given the maximum FAR and air rights of 2.43 and 4,887 respectively. Convenient access to multiple subway lines (7, R, M, E, and F trains) adds to the property's appeal. The asking price is $2,950,000, and annual property taxes are $26,501. This is a unique opportunity to acquire a multi-use property in a high-demand location with significant upside potential. The absence of comparable recent sales in the area underscores the rarity of this offering.

    Property Features for 40-44 82Nd St

    General Information

    Property type
    Retail properties
    Square Feet
    4,262 SF

    Building Details

    Year Built
    1931
    Stories
    2
    Units
    3

    HighLights

    • Multi‑story retail building with three units.
    • 2,011 SF lot, 18.8' x 118.98' dimensions.
    • 4,262 SF building, 20' x 60' dimensions.
    • Maximum buildable square footage of 4,262 SF.
    • Maximum FAR 2.43, 4,887 air rights.
    • R6, C1‑3 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Doctor's Health Guide ... Information Services

    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
    Elmhurst
    County
    Queens
    State
    New York
    Longitude
    -73.883935
    Latitude
    40.7463581

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    FAQs

    What type of property is this?
    Retail property - Vacant, Multi-Story Retail Opportunity
    Where is this retail property located?
    The property is located at 40-44 82Nd St Elmhurst, NY.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: Multi-story retail building with three units.; 2,011 SF lot, 18.8' x 118.98' dimensions.; 4,262 SF building, 20' x 60' dimensions.
    (917) 523-1274
    Request Owner's contact information
    40-44 82Nd St Elmhurst, NY 11373
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    Elmhurst, NY 11373
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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
    40-44 82Nd St Elmhurst, NY 11373
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