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$3,990,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 972095
Rental Info No
Year Built 1950
Annual Tax Amount $37,178
Property Sub-Type Retail
Source onekey2
Property Description
A fantastic opportunity awaits for investors, users, or developers. This free-standing corner retail strip center is ideally positioned on Grand Avenue in the heart of a thriving retail corridor. The highly visible end-cap unit is currently available, offering an excellent option for a wide range of retail or office uses. The property is anchored by two long-standing, fully performing tenants that generate strong, reliable income—helping to offset the majority of operating expenses. In addition, the rear 3,000 square foot paved lot provides valuable flexibility for parking, outdoor storage or additional income. The strong multiple zoning Districts of C2-2 and R6B allow for both commercial and residential use. The large lot size should allow for over 10,000sf of additional buildable space for a possible second and third floor to be added to the existing structure. This sale also includes a seperate 25 x 120 rear lot Zoned R4-1.The building has undergone extensive recent renovations, including a $1 million investment in systems and infrastructure, ensuring modern functionality and long-term value. Conveniently located between the Long Island Expressway and Queens Boulevard, the property benefits from outstanding accessibility, with the E, F, and R subway lines nearby, as well as the MTA Q59 bus stopping directly in front. The surrounding area features prominent national retailers and neighborhood anchors, along with three nearby NYC schools that help drive consistent foot traffic. Adding to its unique appeal, the property carries a touch of cinematic history—featured as “The Suite Lounge” in the film Goodfellas. The seller is also willing to hold a highly attractive mortgage, making this an even more compelling investment opportunity
Location
State NY
County Queens
Rooms
Basement Partial
Interior
Heating Natural Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electricity Connected, Natural Gas Connected, Water Connected
Total Parking Spaces 10
Building
Lot Description Corner Lot
Story 1
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
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Listed by O Kane Realty • John O Kane
NEARBY SCHOOL & BUSINESS
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716