Built-Out Conventional
For Sale
$380,000
47-30 Vernon, Long Island City, NY 11101
Restaurant premises include dining, commercial kitchen infrastructure, storage, and operational systems.
Property Size4,800 SF
Price / SF$79.17
Days on Market46
Property Features for 47-30 Vernon
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Business Opportunity
Additional Details
Floor
Ground + Lower Level
Taxes and HOA fees
Annual Taxes
$5,000
Listing Agency:
Homix Realty Inc
(646) 937-3683
Listed By:
Kai Zhao · License #991797
(646) 937-3683
Source:
Cohenandcohenrealty
Added: Jun 22
Changed: Aug 5
Last Checked: Aug 5 at 6:03AM
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 Homix Realty Inc
Investment Insights
Based on property information with market context.
This approximately 4,800-square-foot conventional restaurant spans 2,800 square feet at ground level and 2,000 square feet below grade. The existing build-out includes a dining area, commercial kitchen infrastructure, storage, and operational systems that support restaurant operations. The layout may accommodate different dining and hospitality concepts, subject to landlord approval and applicable regulations.
The property is located at 47-30 Vernon along the Vernon Boulevard corridor in Long Island City. Nearby context includes Gantry Plaza State Park, NYC Ferry service, public transportation, office buildings, and residential developments, with commercial and residential activity surrounding the site.
The property is located at 47-30 Vernon along the Vernon Boulevard corridor in Long Island City. Nearby context includes Gantry Plaza State Park, NYC Ferry service, public transportation, office buildings, and residential developments, with commercial and residential activity surrounding the site.
Key Highlights
- Approximately 4,800 SF of restaurant space
- 2,800 SF ground‑floor area plus 2,000 SF lower‑level space
- Existing dining area, commercial kitchen infrastructure, and storage
Financial Insights For Industrial
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 | $45.5k | $9.48 |
| − Vacancy | −$2.4k | −$0.49 |
| EGI | $43.1k | $8.99 |
| − OpEx | −$12.9k | −$2.70 |
| NOI | $30.2k | $6.29 |
4,800 SF · lease $9.48/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$3.17M
$2.78M – $3.70M
NOI $222,156 @ 7.0% cap · market cap 58.46%
Second Best
Industrial
$431.4K
$377.5K – $503.3K
NOI $30,196 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,703 @ 7.0% cap · market cap 65.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,136
Businesses Nearby
97k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 47%
Dining 25%
Shops & Services 24%
Home Improvements & Furnishings 4%
Key Food
Groceries
45,409 visits/mo
0.5 miles
BP
Shops & Services
9,895 visits/mo
0.3 miles
Dunkin' Donuts
Dining
7,858 visits/mo
0.5 miles
Dunkin' Donuts
Dining
6,235 visits/mo
0.4 miles
Bareburger
Dining
4,820 visits/mo
0.0 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant premises include dining, commercial kitchen infrastructure, storage, and operational systems.
Where is this conventional restaurant located?
The property is located at 47-30 Vernon Long Island City, NY.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Approximately 4,800 SF of restaurant space; 2,800 SF ground‑floor area plus 2,000 SF lower‑level space; Existing dining area, commercial kitchen infrastructure, and storage
