32-29 Jct Blvd Queens, NY 11369
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 32-29 Jct Blvd
- Year built
- 1920
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property at 32-29 Junction Boulevard in Queens, New York, presents a compelling investment opportunity. The eight-story building, constructed in 1920, sits on a 1,940 square foot lot and boasts a desirable location near Northern Boulevard. Currently configured as a ground floor retail space and two upper-floor residential apartments, the property generates substantial rental income. The first-floor commercial space is currently leased for $8,000 per month, while the two one-bedroom apartments on the second floor command monthly rents of $1,900 and $2,000 respectively. Significant rental upside exists, with market rents estimated at $2,375 to $2,475 per month for each apartment. The property is zoned R6A with a C1-4 overlay, allowing for the potential development of a six- to eight-story mixed-use building. An expansive yard adds to the property's appeal. The asking price is $1,750,000. Public sewer is available. This property, along with the adjacent lot, offers a unique opportunity for significant expansion and increased profitability. The combined lots could potentially support the construction of two buildings on a 40x97 lot.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.874
- Latitude
- 40.7579
