4236 235th St

A defining moment in Douglaston's evolution. Welcome to 42-36 235th Street—an exceptional mixed-use commercial property offering the perfect blend of stabilized income and massive development upside on a prominent 8,167 SF corner-adjacent lot.
This property is ideal for an owner-user or a savvy developer. The ground-floor commercial space provides strong, reliable cash flow via a stepped NNN lease with a large national chain tenant through October 2027. Meanwhile, the spacious lower level is entirely vacant and ready for immediate occupancy—perfect for an owner-operator's business, or capable of being re-leased at an estimated $3,500/month.
For the visionary developer, the property comes with a preliminary zoning analysis detailing an as-of-right vertical expansion. Without the need for a lengthy rezoning process, an incoming buyer can build two additional residential floors (adding 5 dwelling units) over the existing retail structure.
Key Features:
* Upgraded Power: Brand-new (2025) 400-amp 3-phase service (commercial) and 100-amp service (lower level) entirely eliminates initial capex.
* Prime Location: Unbeatable convenience with a 92/100 Transit Score and 96 Walk Score. Just seconds from the Douglaston LIRR station for a rapid commute to Manhattan.
* Low Risk, High Reward: Capitalize on below-market in-place cap rates with the security of a national anchor tenant, while planning your 5-unit residential expansion.
* Situated in a great neighborhood with a median household income over avarage , right by the train station to Manhattan