Mixed-Use Property with
21840 Hillside Avenue New York, NY 11427
21840 Hillside Avenue, New York, NY, 11427
$1,198,000
For Sale
$1,198,000
Includes a fully equipped restaurant with a long-term lease and an additional legal commercial space within the building.
Property Size2,360 SF
Price / SF$507.63
Days on Market94
Property Features for 21840 Hillside Avenue
General Information
- Standard status
- Active
- Size
- 2,360 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1922
Listing agency
E Realty International Corp
(347) 399-5873
Listed by
Yan Zhang
(347) 399-5873
Source
Xome
Added: Apr 20 Updated: Jul 22 at 2:39AM Checked: Jul 22 at 2:39AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This mixed-use property on Hillside Avenue offers a fully equipped restaurant, presented with a long-term lease, along with an additional legal commercial space that is currently in use as a spacious commercial area. The total property size is approximately 2,360 square feet.
The property is positioned on a busy corridor with transit access at the doorstep, including Q1, Q43, QM68, N22, and N26 routes. That connectivity supports convenient access to surrounding areas, making the site practical for both income-focused buyers and operating tenants seeking a mixed-use configuration.
The property is positioned on a busy corridor with transit access at the doorstep, including Q1, Q43, QM68, N22, and N26 routes. That connectivity supports convenient access to surrounding areas, making the site practical for both income-focused buyers and operating tenants seeking a mixed-use configuration.
Key Highlights
- 1922 mixed‑use building with a fully equipped restaurant and a long‑term lease
- Additional legal commercial space included within the building
- Central Air cooling and heating system listed as “3”
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $141.6k | $60.00 |
| − Vacancy | −$21.2k | −$9.00 |
| EGI | $120.4k | $51.00 |
| − OpEx | −$45.1k | −$19.13 |
| NOI | $75.2k | $31.88 |
2,360 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$5.87M
$5.14M – $6.85M
NOI $411,206 @ 7.0% cap · market cap 34.32%
Second Best
Mixed Use
$1.07M
$940.3K – $1.25M
NOI $75,225 @ 7.0% cap · market cap 6.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
Similar Off Market Nearby
- Yasaiya — 25211 Northern Blvd, Little Neck, NY 11362
FAQs
What type of property is this?
Conventional restaurant - Includes a fully equipped restaurant with a long-term lease and an additional legal commercial space within the building.
Where is this conventional restaurant located?
The property is located at 21840 Hillside Avenue New York, NY.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: 1922 mixed‑use building with a fully equipped restaurant and a long‑term lease; Additional legal commercial space included within the building; Central Air cooling and heating system listed as “3”
