168-30 89th Ave - Office/Residential FOR SALE


Jamaica, NY 11432
$8,000,000 USD
631-416-0703
168-30 89th Ave, Jamaica, NY for Sale
$8,000,000 USD
Office/Residential - FOR SALE
1/16
null | Request Cap Rate

168-30 89th Ave
Jamaica, NY 11432


HIGHLIGHTS

  • Versatile Existing Structure: The current two-story building includes a practical basement, perfect for storage or operational needs, and an existing
  • Prime Location Advantage: Located near major thoroughfares and public transportation hubs, this property promises unparalleled accessibility. It stand
  • Approved Expansion Potential: Leverage approved plans for a transformative 5-story building, initially comprising 32 residential units. Unique to this

OVERVIEW

Prime Investment Opportunity: Expansive Commercial Development in NYC's Jamaica Center Explore the pinnacle of urban development with this strategically positioned corner lot in the bustling Jamaica Center area of New York City. Envision your next ambitious project with already approved plans for a significant expansion. This opportunity features: Expansive Dual-Lot Offering: Spanning a total of 7,500 sq ft, this package includes a 5,000 sq ft corner lot hosting a versatile two-story building, alongside an adjacent 2,500 sq ft lot under R6A zoning. Approved Expansion Potential: Leverage approved plans for a transformative 5-story building, initially comprising 32 residential units. Unique to this property, the option exists to revise and potentially double this count, maximizing the building's footprint on this rare commercial corner lot. Integrated Community Facility: Enhance community engagement with a dedicated facility, adding value and appeal to the residential complex. Parking Solution: Address urban space constraints with a thoughtfully planned underground parking facility, accommodating 16 vehicles – a premium feature in NYC's landscape. Prime Location Advantage: Located near major thoroughfares and public transportation hubs, this property promises unparalleled accessibility. It stands amidst a zone of rapid residential growth, embedded in a densely populated and vibrant community. Versatile Existing Structure: The current two-story building includes a practical basement, perfect for storage or operational needs, and an existing parking facility for up to 20 cars. This unique commercial property presents an unmissable opportunity for savvy investors and developers. It offers the perfect blend of location, versatility, and expansion potential – key ingredients for a successful venture in New York City's dynamic urban landscape.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$2,286 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Freestanding, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1957

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

R6A

APN/PARCEL ID

09801-0051

ASK ABOUT THIS PROPERTY

Kieran RodgersThe AgencyMore Info
631-416-0703

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Kieran RodgersThe AgencyMore Info
631-416-0703

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.