Cash Flowing Development Site For Sale | 3310 28th Ave
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Cash Flowing Development Site For Sale 3310 28th Ave
2,700 SF 100% Leased Retail Building Astoria, NY 11103 £1,882,584 (£697/SF)
Investment Highlights
- 8,100 Buildable SF of Residential
- Day one cash flow with early termination clauses in all leases
- 27+ ft Wide Lot
Executive Summary
Unlock the potential of 33-10 28th Ave, an exceptional development site located in the heart of Astoria.
This 2,700 sq. ft. lot (27.17 ft x 100 ft) features a two-story mixed-use building, spanning approximately 1,800 sq. ft., with current leases on a month-to-month basis or including early termination no-buyout clauses, allowing for maximum flexibility. With its R6A zoning and a favorable floor area ratio (FAR), the site offers a unique opportunity to develop a residential buildable area of up to 8,100 sq. ft. under as-of-right allowances.
This property is ideally suited for residential or community facility development, providing flexibility for investors or developers seeking to capitalize on the thriving Astoria market. Strategically positioned with excellent visibility and accessibility, 33-10 28th Ave is just steps away from public transportation, including the N & W subway lines and multiple bus routes. This prime location ensures convenience and connectivity, enhancing the value of any future development. Don’t miss this rare chance to bring your vision to life in one of New York City’s most sought-after neighborhoods.
This 2,700 sq. ft. lot (27.17 ft x 100 ft) features a two-story mixed-use building, spanning approximately 1,800 sq. ft., with current leases on a month-to-month basis or including early termination no-buyout clauses, allowing for maximum flexibility. With its R6A zoning and a favorable floor area ratio (FAR), the site offers a unique opportunity to develop a residential buildable area of up to 8,100 sq. ft. under as-of-right allowances.
This property is ideally suited for residential or community facility development, providing flexibility for investors or developers seeking to capitalize on the thriving Astoria market. Strategically positioned with excellent visibility and accessibility, 33-10 28th Ave is just steps away from public transportation, including the N & W subway lines and multiple bus routes. This prime location ensures convenience and connectivity, enhancing the value of any future development. Don’t miss this rare chance to bring your vision to life in one of New York City’s most sought-after neighborhoods.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£73,327
|
£27.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£73,327
|
£27.16
|
| Taxes |
£7,445
|
£2.76
|
| Operating Expenses |
£5,099
|
£1.89
|
| Total Expenses |
£12,544
|
£4.65
|
| Net Operating Income |
£60,783
|
£22.51
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £73,327 |
| Annual Per SF | £27.16 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £73,327 |
| Annual Per SF | £27.16 |
| Taxes | |
|---|---|
| Annual | £7,445 |
| Annual Per SF | £2.76 |
| Operating Expenses | |
|---|---|
| Annual | £5,099 |
| Annual Per SF | £1.89 |
| Total Expenses | |
|---|---|
| Annual | £12,544 |
| Annual Per SF | £4.65 |
| Net Operating Income | |
|---|---|
| Annual | £60,783 |
| Annual Per SF | £22.51 |
Property Facts
Sale Type
Investment
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,700 SF
Building Class
C
Year Built/Renovated
1920/2015
Price
£1,882,584
Price Per SF
£697
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.99
Land Acres
0.06 AC
Zoning
R6A - R6A. 8,100 buildable Sq. Ft. as-of-right. FAR 3. 680 Sq. Ft. minimum unit size. 70' max height. 65% max lot coverage (mid-block). 7 stories max
Frontage
27 ft on 28 th ave
Walk Score ®
Walker's Paradise (99)
Transit Score ®
Excellent Transit (84)
Bike Score ®
Very Bikeable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 00627-0021 | Total Assessment | £37,068 (2024) |
| Land Assessment | £8,041 (2024) | Annual Taxes | £7,445 (£2.76/sf) |
| Improvements Assessment | £29,027 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
00627-0021
Land Assessment
£8,041 (2024)
Improvements Assessment
£29,027 (2024)
Total Assessment
£37,068 (2024)
Annual Taxes
£7,445 (£2.76/sf)
Tax Year
2023
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Cash Flowing Development Site For Sale | 3310 28th Ave
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