5
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$2,900,000
Est. payment /mo
Active
101-01 Jamaica AVE Richmond Hill, NY 11418
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UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 832107
Rental Info No
Annual Tax Amount $18,858
Property Sub-Type Mixed Use
Source onekey2
Property Description
This prime 8,734 square-foot corner lot presents a rare development opportunity in a high-demand location. Currently approved for a four-story building with 20 residential units, the property offers significant potential for expansion. With a revised architectural plan, the space can be optimized without requiring a variance, allowing for greater flexibility and maximizing value. Developers have the option to build up to 34 affordable housing units, benefiting from 485(x) tax abatements and Opportunity Zone incentives, or pursue a mixed-use development featuring a 4,000-square-foot community facility alongside 25 market-rate apartments. The strategic location and zoning flexibility make this an exceptional investment opportunity.
Location
State NY
County Queens
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available See Remarks
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Others
Special Listing Condition None
Listed by B Square Realty • Li Li