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4322 50th St 24,750 SF Vacant Office Building Woodside, NY 11377 $9,580,000 ($387.07/SF) 5.32% Cap Rate
Executive Summary
A prime commercial office building offering a rare blend of stable income and future upside in the heart of Woodside. This substantial two-story masonry building, with approximately 25,000 square feet and 19 indoor parking spaces, is strategically positioned on a highly visible corner directly adjacent to the Roosevelt Avenue corridor and the 7 Subway line. Currently generating reliable cash flow from a diversified roster of long-term tenants—including a bank, medical offices, CPA firms, and government boards—it represents an ideal asset for a 1031 exchange.
Beyond its solid current performance, the property’s R7/C8-1 zoning unlocks significant development potential for future value creation. This is a cornerstone investment where excellent street presence, transit access, and stable occupancy converge with a clear path for repositioning and growth, a strategic opportunity for the smart investor.
Seize this rare opportunity to acquire a cornerstone asset in Woodside. This is more than a building—it's a strategic investment poised for stability and growth.
Beyond its solid current performance, the property’s R7/C8-1 zoning unlocks significant development potential for future value creation. This is a cornerstone investment where excellent street presence, transit access, and stable occupancy converge with a clear path for repositioning and growth, a strategic opportunity for the smart investor.
Seize this rare opportunity to acquire a cornerstone asset in Woodside. This is more than a building—it's a strategic investment poised for stability and growth.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
24,750 SF
Building Class
B
Year Built
1955
Price
$9,580,000
Price Per SF
$387.07
Cap Rate
5.32%
NOI
$509,656
Percent Leased
Vacant
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
8,260 SF
Building FAR
2.84
Lot Size
0.20 AC
Zoning
R7A /C8-1 - R7A /C8-1 overlay district in New York City, combining a residential Quality Housing zone with a heavy commercial/manufacturing
Amenities
- 24 Hour Access
- Banking
- Signage
- Air Conditioning
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 00138-0040 | Improvements Assessment | $1,391,400 |
| Land Assessment | $185,850 | Total Assessment | $1,577,250 |
Property Taxes
Parcel Number
00138-0040
Land Assessment
$185,850
Improvements Assessment
$1,391,400
Total Assessment
$1,577,250
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