1027 20Th St Queens, NY 11691

This exceptional mixed-use property at 1027 Beach 20th Street in Far Rockaway, Queens, presents a compelling investment opportunity. The 11,250 square foot building boasts a block-through design, offering three commercial units: one street-level store and two floor-through office spaces. Currently operating at 25% occupancy, with a lease on the ground floor and vacant upper floors, this property offers significant upside potential for increased rental income. The asking price is $2,200,000, representing a compelling $195.56 per square foot and a 9.00% cap rate. Adding to its value proposition are substantial development rights, with up to 16,000 additional buildable square feet in air rights. The property is ideally situated between Mott Avenue and Cornaga Avenue, near the Far Rockaway-Mott Avenue A train station, providing convenient access to public transportation. Numerous bus lines (Q22, QM17, n31, n32, n33, Q113, & Q114) also serve the area. The location benefits from proximity to major transportation arteries including the Belt Parkway and JFK Airport, as well as the LIRR and St. John's Hospital. A vibrant mix of established businesses surrounds the property, including Boost Mobile, D’Lenny’s, Gino’s Pizzeria, J D Sports, Park’s Clothing Store, Rockaway Kosher Supermarket, Subway, Chase Bank, McDonald’s, Ruwa Beauty Supply, Queen Anna’s Flowers, and VIM, among others. This property offers a unique blend of immediate income generation and significant long-term growth potential.