100-02 Rockaway Bch Blvd Queens, NY 11694
This exceptional corner lot, spanning 100-02 through 100-08 Rockaway Beach Boulevard in Queens, New York (zip code 11694), presents a unique investment opportunity. The property boasts a desirable location in the heart of Rockaway Beach and is zoned R5D/C1-3, offering significant development potential. The 25x100 foot lot allows for 5,000 square feet of buildable space as of right. This versatile parcel is ideal for a mixed-use development, potentially incorporating a ground-floor commercial space with residential units above, or a multi-family residential building with ground-floor parking. Pre-existing architectural plans and renderings for a purely residential project, featuring various unit configurations (including options for six one-bedroom and three two-bedroom apartments, or three one-bedroom and three two-bedroom units, all with ground-floor parking), are available to the buyer. These plans are ready for submission to the city. The property's zoning and potential make it an excellent candidate for expedited approval under the City of Yes initiative. The asking price for this prime property is $699,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.