148-04 35th Avenue, Flushing, NY

$2,800,000

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5,368

Square feet

About 148-04 35th Avenue

This offering consists of a package of 3 adjacent mixed-use buildings with substantial redevelopment potential, located in the heart of Downtown Flushing—one of Queens’ fastest-growing neighborhoods. The subject property sits in an R7-1 zoning district with an FAR of 4.8, making it a prime development site for future residential expansion or repositioning. Currently, all 6 free market residential units are leased at more than 20% below market rent, offering investors a clear value-add opportunity through rental adjustments. With stable tenancy, underutilized income, and long-term development upside, this asset offers both immediate cash flow and significant future growth potential. As part of a 3-building package, this is a rare opportunity to acquire a strategic footprint in a high-demand urban core with strong connectivity and sustained market momentum.

Features of 148-04 35th Avenue

MLS® # 877434
Price $2,800,000
Bathrooms 0.00
Internal Footage 5,368
Square Footage 2200
Acres 0.00
Year Built 1974
Type Commercial Sale
Sub-Type Multi Family
Status Active

Community Information

Address 148-04 35th Avenue
City Flushing
County Queens
State NY
Zip Code 11354

Amenities

Utilities Cable Connected, Electricity Connected, Sewer Connected, Trash Collection Public, Water Connected
Is Waterfront No
Has Pool No

Interior

Interior Brick
Appliances Cooktop, Electric Cooktop, Electric Oven, Exhaust Fan, Freezer, Microwave, Refrigerator
Heating Electric
Cooling Multi Units
Fireplace No
# of Stories 3
Has Basement Yes
Basement Common, Finished, Full, Storage Space, Walk-Out Access

Exterior

Construction Brick

Additional Information

Date Listed June 12th, 2025
Days on Market 128
Zoning R7-1
Short Sale No
RE / Bank Owned No

Listing Details

Listing Provided Courtesy ofCompass Greater NY LLC
Contact Info917-569-8850

Listing Map

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