Project Description

For Sale: Vacant Mixed-Use Building in Whitestone, NY


Executive Summary:

Price: $6,978,383
Building Size: 15,458 SF
Property Type: Mixed-Use
Lot Size: 0.15 Acres
Year Built: 2019
Cap Rate (Pro Forma): 6.00%
NOI (Pro Forma): $418,703
150-30 12th Ave
Whitestone, NY 11357

Investment Highlights

  • Vacant – Recently Constructed Mixed-Use Building
  • Consists of 5 Commercial & 4 Residential Units
  • Approximately 6,000 SF of Available Space
  • Strong Opportunistic Investment For a Savvy Investor or Great For Owner-User

Investment Summary

American Investment Properties is exclusively retained to sell 150-30 12th Ave, Whitestone, New York.

The subject property is a 6,363 sf lot zoned C2-2/R3-2 and is located in Whitestone near the Cross Island Parkway and the Whitestone Expressway. The immediate vicinity includes commercial, residential, and retail. The subject lot is across the street from the Whitestone Manor Condominiums – a 49-Unit luxury project completed in 2008.

It’s near the Throgs Neck Bridge and Whitestone Bridge that provides easy access to the Bronx, Westchester, Upstate New York, and to Connecticut. It’s also near the Q15 bus line which provides public commuter access to other parts of Queens.

About Whitestone, NY

Whitestone is a residential neighborhood in the northernmost part of the New York City borough of Queens. The neighborhood proper is located between the East River to the north; College Point and Whitestone Expressway to the west; Flushing and 25th Avenue to the south; and Bayside and Francis Lewis Boulevard to the east.

Whitestone contains the subsection of Malba, which is bounded to the north by the East River, to the east by the Whitestone Expressway, to the south by 14th Avenue, and to the west by 138th Street. Malba was cited in a New York Times article as one of the few “elite enclaves” of Queens.

Flushing, College Point, and Whitestone are patrolled by the 109th Precinct of the NYPD, located at 37-05 Union Street. The 109th Precinct ranked 9th safest out of 69 patrol areas for per-capita crime in 2010.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
(O) 516.393.2300
(F) 516.390.5780

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