5-33 48th Ave - The Zipper Building 6,278 SF Retail Condo Unit Offered at $3,900,000 in Long Island City, NY 11101

Located in the heart of Long Island City’s thriving Hunters Point neighborhood, the retail condos at 5-33 48th Avenue offer a rare opportunity to acquire a fully leased, income-generating asset in one of New York City’s most rapidly evolving districts. Situated within The Zipper Building, a luxury mixed-use development with 41 residential units above (only one remaining for sale), this retail portfolio benefits from built-in foot traffic and strong neighborhood demand. The five ground-floor retail units total approximately 10,048 square feet and are leased to a diverse mix of service-oriented tenants including urgent care, beauty, and dental providers. Each tenant brings stability and long-term value, with lease expirations extending through 2034 and monthly rents totaling $57,225. The property generates an effective gross income of $709,703 and a net operating income of $483,584, supported by tax and operating reimbursements. This offering presents a compelling investment opportunity with stable cash flow, strong tenant credit, and long-term upside in a dynamic urban setting. Positioned on the north side of 48th Avenue between 5th Street and Vernon Boulevard, the site enjoys high visibility and accessibility, with proximity to major transit hubs and ferry service. The surrounding area continues to densify, driven by residential development and proposed zoning changes that could add thousands of new homes—further boosting retail demand and pedestrian activity.