21425 42Nd AveBayside, NY 11361

Property Details for 21425 42Nd Ave

Year built

2008

Lot size

0.21 AC

Property size (Sq ft)

14,300 SF

Zone code

C8-1

Property type

Office properties

Property subtype

Office buildings

APN

06290-0057

APU

62900057

Description

This exceptional commercial property, located at 21425 42nd Ave in the highly desirable Bayside, NY, presents a rare investment opportunity. Boasting a prime location on Bell Boulevard with very high foot traffic, this well-maintained property is just a block from the Long Island Rail Road (LIRR), ensuring excellent accessibility. The building offers a substantial 5,000 square foot basement in addition to the ground floor space, providing ample room for various uses. A significant advantage is the inclusion of 75 parking spaces, a rare commodity in this area. The property is zoned C8-1. Currently generating a gross annual income of $840,000 with operating expenses of $170,000, this property boasts a strong net operating income (NOI) of $670,000. The building is currently 100% occupied, offering immediate and substantial cash flow. This property is ideal for investors, developers, and end-users seeking a high-return investment in a prime Bayside location. The combination of high foot traffic, convenient LIRR access, ample parking, and strong financial performance makes this a truly exceptional opportunity. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $2,807,416

  6.5%

  $2,591,461

  7%

  $2,406,357

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,868,438

  Geo Method

  $1,868,438

• Alternative Use

  Use

  Valuation

  Residential

  $3,213,412

  Hospitality

  $2,943,468

  Educational

  $2,448,931

  Medical

  $2,533,153

  Retail

  $3,809,448

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.7631

Longitude

-73.7696

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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