13615 32Nd AveFlushing, NY 11354

Property Details for 13615 32Nd Ave

Year built

1920

Lot size

0.03 AC

Property size (Sq ft)

1,200 SF

Zone code

R6

Property type

Investment properties

Property subtype

Live-work space

APN

04409-0055

APU

44090055

Description

This exceptional investment opportunity presents three adjacent properties totaling 1,200 square feet on a 0.03-acre lot in the vibrant heart of Flushing, NY. Located at 13615 32nd Ave and encompassing 31-50 137th St and 31-52 137th St, this mixed-use building is zoned R6, offering significant development potential. The properties are available for sale as a package or as two separate packages: the entire three-property assemblage or the two properties on 137th Street. This prime location boasts unparalleled convenience, situated near Linden Place and 32nd Avenue, directly across from Leavitt Park. Commuters will appreciate the proximity to the #7 subway line, various bus routes, and the Long Island Rail Road (LIRR), ensuring easy access to Manhattan and beyond. The surrounding area is densely populated with residential apartments, schools, offices, and retail stores, creating a strong foundation for a thriving business. This presents a rare chance to acquire a substantial foothold in a rapidly growing and highly desirable area of Flushing, offering significant returns for the discerning investor or developer. The asking price for the entire package is $1,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $198,396

  6.5%

  $183,135

  7%

  $170,054

• Comparable approach

  Method

  Valuation

  Relative Method

  $156,792

  Geo Method

  $156,792

• Alternative Use

  Use

  Valuation

  Residential

  $227,087

  Hospitality

  $208,010

  Educational

  $173,062

  Medical

  $179,014

  Retail

  $269,208

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.768

Longitude

-73.8314

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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