143-35 Sanford Ave Flushing, NY 11355
- Land
- 17,000 SF
Current Use by Public Records
- Land
Property Details for 143-35 Sanford Ave
- Property size
- 17,000 SF
- Property type
- Land
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Flushing
- County
- Queens
- State
- New York
- Longitude
- -73.8218
- Latitude
- 40.7587
