The Forray Team @ The Corcoran Group is proud to exclusively represent 25-36 31st street. An incredible opportunity for Users, Investors & Developers alike. Located in Bustling Astoria, one of Queens strongest growth neighborhoods.
The offering is for a 25-foot wide mixed-use building, consisting of 2 residential units over the ground-floor retail store. With a lot size of 25' x75", the building's existing SF is 3,400 SF above grade with 600 SF of cellar totaling around 4,000 SF gross. In addition to the great cash flow potential, there is a redevelopment/new development opportunity. The existing C4-3 zoning yields a max FAR of 3.4 for an estimated 6,375 SF total buildable SF (to be independently verified). Please note that all apartments are FREE MARKET Projected Cap Rate 5.57%
Located on bustling 31st Street just steps from the N&W Subway, and Astoria BLVD. Situated on a prime commercial block in the neighborhood, the building boasts close proximity to the N and W Subway Stations. Surrounded by a range of major retail names such as Starbucks is just around the corner) and a plethora of new residential developments, the block houses unlimited potential! Can also be sold with 25-38 31st Street
Courtesy of Corcoran Group
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Data last updated 11:11 PM UTC, 3/31/23