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    69-47 Austin St Queens, NY 11375

    Sponsored
    For Sale
    $16,750,000

    Prime Queens retail space, vacant, 27,066 SF.

    Property size:
    27,066 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 27,066 square foot storefront property at 69-47 Austin Street in Forest Hills, Queens, presents a remarkable investment opportunity. Priced at $16,750,000, this five-story building boasts a prominent corner location with 55 feet of frontage on Austin Street and 99 feet along 70th Avenue, situated on a 5,500 square foot lot. The property is currently vacant, having previously housed a health club, and is zoned C4-5X, FH, offering considerable flexibility for a variety of uses. Its prime location offers unparalleled accessibility, being just a short distance from the E, F, M, and R subway lines at the Forest Hills – 71st Avenue station, and the Long Island Rail Road at the Forest Hills station. Major thoroughfares are also easily accessible. The building's size and location make it ideally suited for a range of uses, including a health club, corporate headquarters, medical facility, or educational institution. This is a rare opportunity to acquire a substantial, vacant retail space in a highly desirable and well-connected area of Queens. The price per square foot is $618.86.

    Property Features for 69-47 Austin St

    General Information

    Property type
    Individual retail properties
    Square Feet
    27,066 SF

    Building Details

    Stories
    5

    HighLights

    • Prime corner lot investment opportunity in Forest Hills, Queens.
    • 27,066 SF, five‑story building on a 5,500 SF lot with 55' of frontage on Austin Street and 99' on 70th Avenue.
    • Excellent accessibility: near E, F, M, R subway lines and LIRR.
    • Currently vacant, previously a health club; C4‑5X, FH zoning allows for diverse uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office 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
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.8470063
    Latitude
    40.7211559

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    FAQs

    What type of property is this?
    Individual retail property - Prime Queens retail space, vacant, 27,066 SF.
    Where is this individual retail property located?
    The property is located at 69-47 Austin St Queens, NY.
    What is the asking price?
    The asking price for this property is $16,750,000.
    What are key features of this property?
    This property features: Prime corner lot investment opportunity in Forest Hills, Queens.; 27,066 SF, five-story building on a 5,500 SF lot with 55' of frontage on Austin Street and 99' on 70th Avenue.; Excellent accessibility: near E, F, M, R subway lines and LIRR.
    Request Owner's contact information
    69-47 Austin St Queens, NY 11375
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    Queens, NY 11375
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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
    69-47 Austin St Queens, NY 11375
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