This 11,266 sq. ft. retail corner property in the Parkchester neighborhood includes 2083-2099 Starling Avenue AND 1507-1511 Olmstead Avenue.
The property has both steady retail income and upside potential. Property has six retail spaces, of which five are occupied. The property was built in 1939. Property has a full basement and is fully sprinklered. The retail property is located just off the corner of Unionport Road, and has frontages along both Starling Avenue and Olmstead Avenue.
The property is about three blocks from the Castle Hill MTA station for the 6 train. Property is surrounded by a mix of high density residential and supporting neighborhood commercial centers. Zoning permits residential development with a 3.00 FAR (33,852 sq. ft.) per the R6 zoning regulations.
This retail neighborhood center presents an excellent investment opportunity with longstanding in-place tenants and stable cash flow.