Street-Level Deli
For Sale
Contact for pricing
38-01 Vernon Boulevard, Long Island City, NY 11101
Food-service space includes a full commercial kitchen, furnishings, inventory, and an existing beer license.
Property Size1,250 SF
Price / SF$96
Days on Market52
Property Features for 38-01 Vernon Boulevard
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Retail, Business for Sale
Space & Availability
Floor
Ground
Furnished
Yes
Financials
Business Included
Yes
Opportunity Zone
Yes
Additional Details
Equipment Included
Yes
Building Details
Year Built
1930
Listing Agency:
Rentopia Group
Listed By:
Hanna Motorina · License #10401393524
Source:
Crexi
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 26 at 12:43PM
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 Rentopia Group
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Investment Insights
Based on property information with market context.
This street-level deli restaurant occupies 1,250 SF in a corner building with 13-foot ceilings. The operation includes a commercial kitchen equipped with a stove, grill, refrigerator, microwave, sinks, and related equipment. Four tables, multiple chairs, and inventory are included, along with a beer license. The business was established in 2023 and operates from a space classified as K4—predominantly retail with other uses—with Tax Class 4 designation. The property was built in 1930 and is located within an opportunity zone.
The site is 12 minutes from the M train and 4 minutes from the B62 and B32 bus routes. The existing lease runs through November 2030, includes a 6% annual increase, and provides a possibility of renewal. The commercial kitchen and installed furnishings support continued deli or other food-service operations.
The site is 12 minutes from the M train and 4 minutes from the B62 and B32 bus routes. The existing lease runs through November 2030, includes a 6% annual increase, and provides a possibility of renewal. The commercial kitchen and installed furnishings support continued deli or other food-service operations.
Key Highlights
- 1,250 SF street‑level deli in a corner building
- 13‑foot ceilings in a building constructed in 1930
- Full commercial kitchen with stove, grill, refrigerator, microwave, and sinks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,864
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,280
$157.3K
Cap Rate 7%
$112,343
$112.3K
Cap Rate 9%
$87,378
$87.4K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$11.9K $9.48/SF
− Vacancy
−$616 −$0.49/SF
EGI
$11.2K $8.99/SF
− OpEx
−$3.4K −$2.70/SF
NOI
$7.9K $6.29/SF
Area
Queens County, NY
Vacancy
5.20%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,280
Cap Rate 7%
$112,343
Cap Rate 9%
$87,378
Alternative Uses
Best Use
Specialty Retail
$826.5K
$723.2K – $964.2K
NOI $57,853 @ 7.0% cap · market cap 48.21%
Second Best
Retail
$318.8K
$278.9K – $371.9K
NOI $22,313 @ 7.0% cap · market cap 18.59%
Theoretical Best
Office A
$921.5K
$806.3K – $1.08M
NOI $64,506 @ 7.0% cap · market cap 53.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,429
Businesses Nearby
228k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 67%
Dining 21%
Shops & Services 8%
Groceries 2%
Costco Wholesale
Superstores
152,636 visits/mo
0.3 miles
McDonald's
Dining
24,841 visits/mo
0.3 miles
Mobil
Shops & Services
11,890 visits/mo
0.4 miles
Burger King
Dining
8,881 visits/mo
0.4 miles
Starbucks
Dining
7,450 visits/mo
0.3 miles
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Food-service space includes a full commercial kitchen, furnishings, inventory, and an existing beer license.
Where is this conventional restaurant located?
The property is located at 38-01 Vernon Boulevard Long Island City, NY.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: 1,250 SF street‑level deli in a corner building; 13‑foot ceilings in a building constructed in 1930; Full commercial kitchen with stove, grill, refrigerator, microwave, and sinks
