24-00 Seagirt Blvd, Far Rockaway, NY 11691
This exceptional 26,524 square foot vacant lot, situated on Seagirt Boulevard in Far Rockaway, Queens, presents a remarkable development opportunity. Boasting 170 feet of frontage on this bustling thoroughfare and street frontage on three sides, the property is zoned R5/C1-3, permitting a 33,155 square foot mixed-use development or a 53,048 square foot community facility. The location within a FRESH tax benefit zone offers significant cost advantages for developers. Its proximity to the beach and boardwalk, coupled with nearby amenities such as CVS, Shop Fair Supermarket, Bank of America, and Dunkin' Donuts, ensures high visibility and accessibility. Excellent public transportation is readily available via the Q113 & Q114 bus lines, providing convenient access to the A subway line. The property's strategic location near the revitalized Special Downtown Far Rockaway District, rezoned in 2017 to encourage development, further enhances its investment potential. This is a rare chance to capitalize on a prime location in a rapidly growing area. The asking price is $3,500,000.
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.