9 Hillside Ave New York, NY 10040
Commercial property with stable income and future redevelopment potential.
Property Features for 9 Hillside Ave
General Information
- Property type
- Commercial
- Standard status
- Active
Building Details
- Year built
- 1960
Source:
Elliman
Listing Agent: Bruno F. Ruiz-Castano
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Inwood Investment with Development Potential
This one-story commercial property is located in Inwood/Washington Heights. The property is currently leased to a deli, providing rental income and redevelopment potential under R7-2 zoning. The property is on a 25 x 100 ft lot, which is 2,500 sq ft, with the ability to build up to approximately 8,600 sq ft. The existing structure is around 2,500 sqft and in solid condition. The current tenant operates a neighborhood deli under a lease with 5 years remaining, paying $6,000 per month, which is $72,000 per year. The estimated Net Operating Income (NOI) is approximately $61,200 per year. R7-2 zoning allows for potential multi-family or mixed-use development when the current lease expires. Located steps away from the A and 1 subway lines, parks, and major retail corridors, the property benefits from foot traffic, visibility, and access to local amenities. It offers an opportunity for passive investors seeking cash flow and developers looking for future upside.
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar Places Nearby
Las Antillas Produce Meat Market, Target Grocery, Manor Market, Bani Food Market Corporation
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.930653
- Latitude
- 40.858575
Nearby Similar for Sale
FAQs
What type of property is this?
Grocery and convenience store - Commercial property with stable income and future redevelopment potential.
Where is this grocery and convenience store located?
The property is located at 9 Hillside Ave New York, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: - Strong redevelopment potential with R7-2 zoning allowing for approximately 8,600 sq ft buildable area.; - Consistent rental income from established deli tenant with 5 years remaining on lease.; - Attractive estimated Net Operating Income (NOI) of approximately $61,200/year.
