82-09 Roosevelt Ave 3,560 SF 100% Leased Retail Building Jackson Heights, NY 11372 $6,711,138 CAD ($1,885.15 CAD/SF) 4.30% Cap Rate

Investment Offering – Value-Add / Redevelopment Opportunity
82-09 Roosevelt Avenue | Jackson Heights, Queens, NY
Strategically positioned along the Roosevelt Avenue commercial corridor in Jackson Heights, 82-09 Roosevelt Avenue presents a rare covered-land play with immediate in-place income and substantial long-term redevelopment potential.
The property sits on a 20’ x 100’ (2,000 SF) lot and is improved with a 3,560 SF mixed-use building, currently 100% occupied, generating stable cash flow at a 4.3% cap rate. The existing improvements provide strong holding income while an investor evaluates repositioning or vertical expansion strategies.
Zoning & Development Potential
The asset is located within a C4-3 / R6 zoning district, offering flexibility for both residential and commercial development. C4-3 districts in high-density corridors such as Roosevelt Avenue are typically mapped with higher commercial FAR allowances than standard neighborhood overlays, supporting mixed-use projects with retail below and residential above.
Based on a 2,000 SF lot:
Residential FAR (R6 equivalent): typically up to 2.43–3.0 (context dependent)
Commercial FAR (C4 district): may allow significantly higher bulk depending on district regulations
Potential for vertical expansion or full redevelopment subject to DOB verification
Opportunity to capitalize on unused development rights (air rights)
Preliminary analysis suggests the building may not be built to maximum allowable FAR, creating a potential value-creation path through:
Vertical enlargement
Full ground-up redevelopment
Mixed-use repositioning
Assemblage with adjacent parcels
Sale/transfer of unused air rights (subject to zoning and landmark considerations)
All development assumptions to be independently verified by purchaser’s architect and zoning counsel.
Location & Demand Drivers
Located steps from the 82nd Street–Jackson Heights subway hub (7, E, F, M, R lines), the property benefits from:
High pedestrian counts
Dense residential population
Strong neighborhood retail demand
Proximity to LaGuardia Airport and Midtown Manhattan
Established national and local retail tenancy
Roosevelt Avenue remains one of Queens’ most active commercial corridors, with continued multifamily demand supporting long-term redevelopment fundamentals.
Investment Thesis
Covered Land Play – Immediate 100% occupied income stream
Upside Through Density – Potential unused FAR
Prime Retail Corridor – Strong tenant demand and foot traffic
High Barrier to Entry Submarket – Limited new supply along Roosevelt Ave
This offering represents a rare opportunity to secure a stabilized asset with embedded development optionality in one of Queens’ most supply-constrained transit-oriented corridors.