This offering consists of a package of 3 adjacent mixed-use buildings with substantial redevelopment potential, located in the heart of Downtown Flushing one of Queens fastest-growing neighborhoods. The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning. Currently, all 6 free market residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long-term development upside, this asset offers both immediate cash flow and significant future growth potential. As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.
Lot/land
$2,800,000
148-04 35th Ave, Flushing, NY 11354
0beds
0baths
--sqft
Unimproved Land
Built in ----
-- sqft lot
$-- Zestimate®
$522/sqft
$-- HOA
What's special
Adjacent mixed-use buildings
- 60 days
- on Zillow |
- 45 |
- 3 |
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