108-04-108-14 Astoria Blvd
East Elmhurst, NY 11369
Enterprise Rent-A-Car · Commerce de détail Propriété À vendre

We are pleased to present this exceptional opportunity to acquire a large- scale development site totaling 35,745 SF with significant in-place income. Located directly on the bustling Astoria Boulevard, this site offers unmatched potential for a landmark residential or mixed-use project in a rapidly appreciating neighborhood.
The property is currently leased to a national tenant, Enterprise Rent-A- Car, providing substantial carrying income while securing development approvals. With the proposed "City of Yes" zoning changes, the site offers a potential buildable area of up to 213,600 BSF. Investment Highlights Massive Development Potential: A substantial lot of 35,745 SF with the potential to develop up to 213,600buildable square feet under the proposed R7X zoning (FAR 6.0). Significant In-Place Income: Secure cash flow of $359,281 per year from a Triple Net (NNN) lease with Enterprise. The lease runs through April 2026, perfectly timed to cover costs during the design and approvals phase. Unbeatable Queens Location: Situated with high visibility on Astoria Boulevard, a major commercial and commuter thoroughfare. Proximity to World-Class Destinations: Located less than 10 minutes (under 2 miles) from LaGuardia Airport (LGA), Citi Field (Home of the NY Mets), and the USTA Billie Jean King National Tennis Center (Home of the US Open). Superior Accessibility: Immediate access to the Grand Central Parkway and close proximity to the Cross Island Parkway and Brooklyn-Queens Expressway (BQE), offering convenient travel throughout the boroughs and Long Island. Favorable Zoning Upside: Currently zoned R6A, the property is poised to benefit from the "City of Yes for Housing Opportunity" initiative, which may permit an upzoning to R7X, unlocking significant additional value.