54-00 Myrtle AveQueens, NY 11385

Property Details for 54-00 Myrtle Ave

Property type

Land

Property subtype

Industrial properties

Description

This exceptional 70,573 square foot land assemblage presents a remarkable investment opportunity in the vibrant Queens, New York market. Strategically located across multiple addresses spanning Myrtle Avenue and Wyckoff Avenue, this property comprises seven tax lots, offering significant development potential. The site boasts substantial frontage along key thoroughfares, providing excellent visibility and accessibility. Currently improved with 21 retail spaces generating substantial income, this asset offers a strong cash flow to support potential redevelopment plans. The C4-3 zoning allows for the construction of two buildings, with significant as-of-right buildable area for residential, commercial, and community facility uses. This presents a unique chance to create a mixed-use development in a high-growth area, capitalizing on the existing income stream while pursuing a long-term vision. The property's location offers convenient access to public transportation, further enhancing its appeal. This assemblage is ideal for developers seeking a substantial project with immediate income and significant upside potential in a prime Queens location. The combined addresses include 54-00, 54-08, 54-16, 54-20, and 54-32 Myrtle Avenue, and 7-45 and 7 Wyckoff Avenue, spanning both Queens and Brooklyn. The zip codes are 11385 and 11237.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.6984

Longitude

-73.9088

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