6120 Metropolitan AveQueens, NY 11385

Property Details for 6120 Metropolitan Ave

Year built

1931

Lot size

0.11 AC

Zone code

R6B

Property type

Retail properties

Property subtype

Auto shops

APN

03521-0031

APU

35210031

Description

This exceptional 4,830 square foot parcel of land presents a unique opportunity for developers and investors in the thriving Ridgewood, Queens neighborhood. Located on Metropolitan Avenue, near Fresh Pond Road, this single-tenant property boasts a highly desirable location with excellent visibility and accessibility. The lot is currently used for commercial parking and storage, offering immediate income potential or the possibility for redevelopment. Its versatile zoning designation, encompassing R6B, R5B, and C2-4 classifications, allows for a wide range of development options, from residential to commercial projects. The property's size and zoning flexibility make it ideal for a variety of uses, including but not limited to, mixed-use buildings, retail spaces, or residential developments. The parcel's location within a vibrant and growing community ensures strong potential for return on investment. The property's APN is 4-3521-31, and it is situated in Queens County. This is a rare opportunity to acquire a strategically located land parcel in a rapidly developing area. Serious inquiries are encouraged. The lot size is confirmed at 4,830 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $1,173,859

  6.5%

  $1,083,562

  7%

  $1,006,164

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,590,341

  Geo Method

  $1,590,341

• Alternative Use

  Use

  Valuation

  Residential

  $914,025

  Hospitality

  $837,242

  Educational

  $696,575

  Medical

  $720,532

  Retail

  $1,083,562

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.7124

Longitude

-73.9014

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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