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23-03 40th Ave 0.08 Acres of Industrial Land Offered at $2,300,000 in Long Island City, NY 11101
INVESTMENT HIGHLIGHTS
- LIC is located in the heart of Long Island City.
- Zoning: M1-2, R5D
- Corner lot size: 35x100
EXECUTIVE SUMMARY
Located in Heart of LIC, Queens with strong transit access.
• Surrounded by dense residential and retail activity.
• Close to Subway train F 21St-Queensbrigde
EXECUTIVE SUMMARY
23-03 40th Ave presents a compelling opportunity for investors and developers to unlock value in a rapidly evolving Queens submarket. With M1-2, R5D zoning and a sizable lot footprint, the property is well-suited for redevelopment into multifamily housing or a mixed-use concept that aligns with the neighborhood's growth trajectory. Its proximity to major transit lines and local amenities enhances its appeal for future residents and tenants. This is a strategic acquisition for those seeking to build or reposition in a high-demand, low-supply corridor.
• Surrounded by dense residential and retail activity.
• Close to Subway train F 21St-Queensbrigde
EXECUTIVE SUMMARY
23-03 40th Ave presents a compelling opportunity for investors and developers to unlock value in a rapidly evolving Queens submarket. With M1-2, R5D zoning and a sizable lot footprint, the property is well-suited for redevelopment into multifamily housing or a mixed-use concept that aligns with the neighborhood's growth trajectory. Its proximity to major transit lines and local amenities enhances its appeal for future residents and tenants. This is a strategic acquisition for those seeking to build or reposition in a high-demand, low-supply corridor.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $2,300,000 | Lot Size | 0.08 AC |
| Price Per AC | $28,625,122.90 |
| Price | $2,300,000 |
| Price Per AC | $28,625,122.90 |
| Lot Size | 0.08 AC |
Corner lot size: 35x100 Zoning: M1-2, R5D Buildable Area: 10,500 First floor commercial space available Up to 10 apartments on the second floor One block from the subway Surrounded by high-end residential developments
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 00394-0048 | Improvements Assessment | $154,530 |
| Land Assessment | $94,500 | Total Assessment | $249,030 |
PROPERTY TAXES
Parcel Number
00394-0048
Land Assessment
$94,500
Improvements Assessment
$154,530
Total Assessment
$249,030
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23-03 40th Ave
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