133-38 41st Avenue
About This Property
Rarely available R6-zoned development site at 133-38 41st Avenue, ideally positioned in one of Queens' most active and highly sought-after neighborhoods. Situated on an approximately 5,000 sq. ft. lot (50' x 100'), the property offers exciting potential for a community facility combined with an approximately 17-unit condominium development, subject to zoning compliance, feasibility review, and all required approvals.
The site may accommodate a variety of community facility uses, including medical, educational, daycare, or religious facilities, as permitted by applicable regulations-providing developers and investors with multiple potential development strategies.
Just moments from Main Street, the Queens Public Library, the 7 subway line, and LIRR, the property is surrounded by shopping, restaurants, supermarkets, banks, and essential neighborhood amenities. Its prime Downtown Flushing location offers outstanding visibility, accessibility, and convenient connections to Manhattan and throughout Queens.
With its desirable zoning, substantial lot size, flexible development potential, and exceptional location, this is a compelling opportunity for developers, investors, and owner-users looking to establish a significant presence in the heart of Flushing.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 7, 2026 | Listed by Homix Realty Inc | $6,500,000 | |
| Listed by Homix Realty Inc | |||
| Nov 12, 2024 | Listed | $268,000 | |
| Listed | |||
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Established Downtown Flushing Auto Service Shop. 5,000 SF space. Equipment list: Spray Room, Frame machine, mixing machine, lifts x3, welding, diagnostic software x2. Service including: maintenance, tire care, personal insurance, inspection. $30,000/m rent include re tax. Gross sales: $850,000. Expenses: 4 staff/$15,000 monthly payroll, plus others. For the customers it's one of the most convenient location between Main St and College Point Blvd., Additional information: Business Located At:41st Ave
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| Apr 7, 2020 | No longer available | - | |
| No longer available | |||
| Mar 15, 2019 | Listed by Winzone Realty Inc | $350,000 | |
| Listed by Winzone Realty Inc | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017