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    OFF-MARKET
    Specialty properties

    18-17 Cross Bay Blvd, Queens, NY 11693

    10,500 SF Built 1960
    Property ID
    Property summary
    AI-generated overview

    This 10,500 sq ft property in Queens, NY, offers a unique blend of existing commercial uses and significant redevelopment potential. Currently operating as an auto shop and grocery store, the property boasts three units totaling 3,000 net rentable square feet within a single building constructed in 1960. The 20-foot ceilings and expansive 10,500 sq ft lot provide ample space for expansion or repurposing. The property is zoned Use Group 16 (grandfathered commercial), allowing for a variety of uses, including auto body shops, gas stations, and spray booths. A zoning attorney has indicated potential for rezoning to C-2 or C-3, or upgrading from R3-A to R3-2, which could significantly increase the buildable footprint to approximately 10,000 sq ft. This prime location on Cross Bay Boulevard, the only main road connecting Rockaway and Howard Beach, ensures high visibility and traffic, with 23,000 vehicles passing daily. The property serves a community of over 20,000 residents lacking similar services, creating a captive market for various businesses. Seller financing is available. The asking price is $2,000,000, with a price per square foot of $190.48. This presents a rare opportunity for an investor or entrepreneur seeking a high-growth, low-competition market. The property's flexibility allows for diverse development options, including expansion of existing businesses, creation of a new grocery store, medical clinic, storage facility, or restaurant, or even subdivision of the lot. All information should be independently verified.

    Property profile
    Verified
    Property type Specialty properties
    Year built 1960
    Total area 10,500 SF
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Isalis (Bike/Boat/Book/etc) Store
    • Party City Party Supply Store (Bike/Boat/Book/etc) Store
    • Skunk Funk Big Box & Wholesale Store
    • Carl's Trading Co Hat Shop
    • Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
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    by Request
    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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