38-20 31St St Queens, NY 11101
This exceptional 2,255 sq ft lot in Long Island City, Queens presents a remarkable development opportunity. Located at 38-20 31st Street, this .05-acre parcel is zoned M1-2/R6A, offering significant potential. Currently featuring a 1,540 sq ft, 1920-built, one-family home (22' x 35'), the property is sold "as is." The site's dimensions are approximately 25' x 90', allowing for a potential building of 6,762 sq ft. Its prime location is just one block from Northern Boulevard and a half block from the 39th Avenue/Dutch Kills subway station, providing easy access to Manhattan. Nearby schools include P.S. 166Q, 204 Oliver W. Holmes, and Long Island City High School. The asking price is $1,298,888, translating to approximately $1,159 per square foot. Detailed building and lot information, including MLS and Department of Buildings records, are available upon request. This is an ideal site for developers seeking a high-potential project in a thriving, well-connected neighborhood. The existing structure is a one-family dwelling, classified as A9 by the Department of Buildings, with a full basement. Seize this chance to create a significant development in a highly desirable area.
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.