Mixed-Use Property with
For Sale
$1,198,000
21840 Hillside Avenue, Queens Village, NY 11427
Two-story asset combines leased food-service space with a legal two-family residence above.
Property Size2,360 SF
Price / SF$507.63
Days on Market177
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Property Features for 21840 Hillside Avenue
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Mixed Use
Additional Details
Floor
Ground
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,363
Building Details
Building Size
2,360 SF
Year Built
1922
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
E Realty International Corp
Listed By:
Yan Zhang
(718) 886-8110
Source:
Luxuryhomeny
Added: Apr 22
Changed: Oct 12
Last Checked: Oct 15 at 6:29AM
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.
Built in 1922, this 2,360-square-foot mixed-use property combines commercial and residential components in a two-story configuration. The ground level contains a storefront restaurant with equipment in place and an established long-term lease. A legal two-family residence occupies the second floor and is currently arranged as one larger single-family home.
The property is positioned on Hillside Avenue in Queens Village, with access to Q1, Q43, QM68, N22, and N26 transit routes. This combination of leased restaurant space and adaptable residential occupancy creates a single asset with both commercial and residential use components.
The property is positioned on Hillside Avenue in Queens Village, with access to Q1, Q43, QM68, N22, and N26 transit routes. This combination of leased restaurant space and adaptable residential occupancy creates a single asset with both commercial and residential use components.
Key Highlights
- 2,360‑square‑foot mixed‑use property built in 1922
- Ground‑floor storefront restaurant with equipment in place
- Long‑term lease in place for the restaurant space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,227
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,184,540
$2.2M
Cap Rate 7%
$1,560,386
$1.6M
Cap Rate 9%
$1,213,633
$1.2M
Market Conditions
NOI Build-Up for 2,360 SF
Gross rent
$155.8K $66.00/SF
− Vacancy
−$10.1K −$4.29/SF
EGI
$145.6K $61.71/SF
− OpEx
−$36.4K −$15.43/SF
NOI
$109.2K $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 Rate 5%
$2,184,540
Cap Rate 7%
$1,560,386
Cap Rate 9%
$1,213,633
Alternative Uses
Best Use
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,227 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$824.1K
$721.1K – $961.5K
NOI $57,689 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,787 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
Explore this area
Business Placement
Demographics for 11427, NY
24,555
Population
8,435
Households
2.9
Avg Household Size
44
Median Age
36%
College-Educated
84%
High-School Grad
1.6 sq mi
ZIP Area
15,347
Density / Sq Mi
$92,129
Median Household Income
$48,439
Median Earnings
$1,697
Median Rent
$690,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story asset combines leased food-service space with a legal two-family residence above.
Where is this mixed-use property located?
The property is located at 21840 Hillside Avenue Queens Village, 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: 2,360‑square‑foot mixed‑use property built in 1922; Ground‑floor storefront restaurant with equipment in place; Long‑term lease in place for the restaurant space
