24-09 38Th Ave Queens, NY 11101

Property Details for 24-09 38Th Ave

Property size

24,370 SF

Property type

Office Properties & Spaces

Description

This exceptional three-story office building, totaling 24,370 square feet, is situated in Long Island City's desirable Dutch Kills neighborhood. The property boasts approximately 350 feet of frontage and includes a substantial adjacent 13,015 square foot parking lot with 53 spaces—a rare find in this market. Currently, the building is approximately two-thirds vacant, presenting a unique opportunity for an owner-user to occupy the space immediately or reposition the asset. The building features full floors available on the ground and third levels, each offering approximately 8,123 square feet of space. These vacant spaces include versatile layouts with office spaces, conference rooms, recreational areas, bullpen space, and storage. The existing tenant provides ongoing cash flow. The building's prime location offers convenient access to public transportation, with proximity to the N, W, and 7 subway lines at both the 21st Street and Queensboro Plaza stations, ensuring easy commutes to Manhattan and throughout Queens. The property is zoned M1-2 and offers a Net Operating Income (NOI) of $527,871. This combination of ample space, convenient location, substantial parking, and strong NOI makes this a compelling investment opportunity. The property is located at 24-09 38th Ave and 37-25 24th Street, Queens, NY 11101.