About 148-04 35th Avenue
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.
Features of 148-04 35th Avenue
| MLS® # | 877434 |
|---|---|
| Price | $2,800,000 |
| Bathrooms | 0.00 |
| Square Footage | 5,368 |
| Acres | 0.00 |
| Year Built | 1974 |
| Type | Commercial |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 148-04 35th Avenue |
|---|---|
| City | Flushing |
| County | Queens |
| State | NY |
| Zip Code | 11354 |
Additional Information
Listing Details
| Office | Compass Greater NY LLC |
|---|---|
| Office Contact | 917-569-8850 |