143-02 94Th Ave Jamaica, NY 11435
- Warehouses
- 6,000 SF
Current Use by Public Records
- Warehouses
Property Details for 143-02 94Th Ave
- Property size
- 6,000 SF
- Property type
- Warehouses
- Property subtype
- Mixed-use properties
Description
This exceptional redevelopment opportunity encompasses two adjacent corner lots totaling 6,000 square feet in Jamaica, Queens, NY. The properties, located at 143-02 94th Ave and 143-09 95th Ave, boast a combined lot size ideal for significant development. Built in 1995 and 1925, the existing structures (two buildings, four units) offer flexibility for various development strategies. The properties are zoned C4-5X and DJ, providing substantial development potential. C4-5X zoning offers a Commercial Floor Area Ratio (FAR) of 4.0, translating to a potential buildable square footage (BSF) of 24,000. The Residential District Equivalent, R7X, allows for a basic FAR of 5.0 (BSF = 30,000) and a MIH FAR of 6.0 (BSF = 36,000). Both properties can be delivered vacant. The location offers convenient access to major transportation arteries, including subway and LIRR stations, and is proximate to schools, shopping, and recreational facilities. The current gross annual income is $232,800. This prime location in a rapidly growing neighborhood presents a compelling investment opportunity for developers seeking to capitalize on the strong market demand for both residential and commercial space in Jamaica, Queens. The properties' generous lot size, favorable zoning, and strategic location make them an attractive proposition with potential for substantial returns. Potential development strategies include mixed-use buildings incorporating residential, retail, or office spaces.
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
- Jamaica
- County
- Queens
- State
- New York
- Longitude
- -73.8099
- Latitude
- 40.6981
