36-53 Main St Queens, NY 11354

Property Details for 36-53 Main St

Property size

27,719 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 27,719 square foot, two-story retail building situated on a bustling corner of Main Street in Flushing, Queens. The property boasts 234 feet of wrap-around frontage, ensuring excellent visibility and exposure to both vehicular and pedestrian traffic. Currently housing six retail units, five of which are occupied by a strong tenant mix, including Carat & Co. (7,500 sq ft, over $3M in build-out costs) and Southern Shore Dream Beauty (6,300 sq ft, over $2M in build-out costs). These substantial tenant improvements underscore the financial strength and commitment of the existing businesses. Located in Downtown Flushing, the property benefits from its position in Queens' busiest shopping district and the third busiest retail corridor in New York City, after Times Square and Herald Square. Its proximity to the 7 train and Long Island Railroad provides convenient access to Manhattan within 20 minutes. The 7 train station at Main Street is notably the busiest subway station outside Manhattan. The property is zoned C4-3, allowing for a diverse range of commercial and residential uses, with a maximum buildable square footage of 74,515, offering significant long-term development potential. This prime location, combined with strong existing tenants and flexible zoning, makes this a compelling investment opportunity with substantial in-place cash flow.