Mixed-Use Property with
For Sale
$4,690,000
117-11/13 Hillside Avenue, Richmond Hill, NY 11418
Six occupied apartments complement a vacant ground-floor dining and bar space with a fully equipped kitchen.
Property Size13,000 SF
Price / SF$360.77
Days on Market201
Property Features for 117-11/13 Hillside Avenue
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Commercial
Zoning
R5/C3
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Restaurant
Seating Capacity
250
Equipment Included
Yes
Additional Details
Floor
1
Gross Income
$160,200
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$15,312
Building Details
Building Size
13,000 SF
Year Built
1931
Year Renovated
2020
Buildings
2
Stories
3
Units
6
Listing Agency:
Nirvana Realty Inc
Listed By:
Vincent Suresh
(718) 843-5600
Source:
Croninreale
Added: Apr 7
Changed: Oct 23
Last Checked: Oct 23 at 9:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nirvana Realty Inc
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Investment Insights
Based on property information with market context.
This 13,000-square-foot mixed-use property combines six residential apartments with a ground-floor restaurant and bar. The commercial space is currently vacant and includes a fully equipped kitchen. Its public assembly certificate of occupancy designation covers an area approximately 50 feet by 50 feet, with seating capacity for 250. The restaurant and bar space was updated in 2020 and has its own boiler and water heater. The building dates to 1931 and is zoned R5/C3.
All six apartments are occupied. Each residential unit has a separate boiler and water heater; tenants pay their own electricity, heat, and cooking gas. The property is near major highways and offers access to bus and train service, as well as schools.
All six apartments are occupied. Each residential unit has a separate boiler and water heater; tenants pay their own electricity, heat, and cooking gas. The property is near major highways and offers access to bus and train service, as well as schools.
Key Highlights
- Six occupied residential apartments
- Vacant ground‑floor restaurant and bar space with fully equipped kitchen
- Approximately 50 feet by 50 feet, with seating capacity for 250
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$317,777
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,355,540
$6.4M
Cap Rate 7%
$4,539,671
$4.5M
Cap Rate 9%
$3,530,856
$3.5M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$600.6K $46.20/SF
− Vacancy
−$22.8K −$1.76/SF
EGI
$577.8K $44.44/SF
− OpEx
−$260.0K −$20.00/SF
NOI
$317.8K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,355,540
Cap Rate 7%
$4,539,671
Cap Rate 9%
$3,530,856
Alternative Uses
Best Use
Specialty Retail
$8.60M
$7.52M – $10.03M
NOI $601,673 @ 7.0% cap · market cap 12.83%
Second Best
Apartment 5plus
$4.54M
$3.97M – $5.30M
NOI $317,777 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$9.58M
$8.39M – $11.18M
NOI $670,862 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six occupied apartments complement a vacant ground-floor dining and bar space with a fully equipped kitchen.
Where is this mixed-use property located?
The property is located at 117-11/13 Hillside Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $4,690,000.
What are key features of this property?
This property features: Six occupied residential apartments; Vacant ground‑floor restaurant and bar space with fully equipped kitchen; Approximately 50 feet by 50 feet, with seating capacity for 250
