Mixed-Use Property with
For Sale
$2,750,000
18018 HILLSIDE AVE, Jamaica, NY 11432
Includes two residential units, an operating food-and-beverage business, and a built-out basement bar area.
Property Size4,574 SF
Price / SF$601.22
Days on Market342
Property Features for 18018 HILLSIDE AVE
General Information
Standard status
Active
Size
4,574 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$27,226
Amenities
Electric
3
Building Details
Year Built
1992
Listing Agency:
(646) 387-9417
Listed By:
Corcoran
(646) 387-9417
Source:
Xome
Added: Sep 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:56PM
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 Corcoran
Investment Insights
Based on property information with market context.
This 4,574-square-foot mixed-use property, built in 1992, combines an operating restaurant and bar business with two residential units. The business has operated under current ownership for approximately 35 years. The improvements also include a finished basement bar area that is not currently operating, while liquor service is approved on multiple levels subject to license transfer and required verification.
The property fronts Hillside Avenue in Jamaica, Queens, within a corridor described as having consistent pedestrian and vehicular activity. R7 zoning applies. The offering includes the restaurant and bar business, with business operations, licensing, and financial information subject to purchaser review and verification.
The property fronts Hillside Avenue in Jamaica, Queens, within a corridor described as having consistent pedestrian and vehicular activity. R7 zoning applies. The offering includes the restaurant and bar business, with business operations, licensing, and financial information subject to purchaser review and verification.
Key Highlights
- 4,574‑square‑foot mixed‑use property built in 1992
- Operating restaurant and bar business included in the offering
- Approximately 35 years of operation under current ownership
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$211,696
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,233,920
$4.2M
Cap Rate 7%
$3,024,229
$3.0M
Cap Rate 9%
$2,352,178
$2.4M
Market Conditions
NOI Build-Up for 4,574 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$301.9K $66.00/SF
− Vacancy
−$19.6K −$4.29/SF
EGI
$282.3K $61.71/SF
− OpEx
−$70.6K −$15.43/SF
NOI
$211.7K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,233,920
Cap Rate 7%
$3,024,229
Cap Rate 9%
$2,352,178
Alternative Uses
Best Use
Specialty Retail
$3.02M
$2.65M – $3.53M
NOI $211,696 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$1.60M
$1.40M – $1.86M
NOI $111,809 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $236,040 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,809
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes two residential units, an operating food-and-beverage business, and a built-out basement bar area.
Where is this mixed-use property located?
The property is located at 18018 HILLSIDE AVE Jamaica, NY.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 4,574‑square‑foot mixed‑use property built in 1992; Operating restaurant and bar business included in the offering; Approximately 35 years of operation under current ownership
