Two-Story Restaurant and
New
For Sale
$2,800,000
7903 Roosevelt Avenue, Jackson Heights, NY 11372
COMMERCIAL - Jackson Heights, NY
Property Size3,200 SF
Lot Size0.04 Acres
Price / SF$875
Days on Market1
Property Features for 7903 Roosevelt Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C4-3/R6
Rooms
Basement
Parking features
On Street
Basement
Full, Finished
Appliances
Dishwasher, Freezer, Ice Maker
Elementary school district
Contact Agent
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
APN
01290-0046
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
45000
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Floors in Building
2
Flooring type
Tile - Ceramic
Building materials
Brick, Frame
Listing Agency:
Signature Premier Properties
(516) 921-1400
Listed By:
Giulio F. Ferrante
(646) 236-9090
Added: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# 1037615
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story attached brick restaurant building, constructed in 1931, contains approximately 3,200 square feet of above-grade commercial space on an approximately 1,950-square-foot lot measuring approximately 20 feet by 100 feet. The property includes a fully utilized basement with office space, separate men's and women's restrooms, storage, a commercial walk-in freezer, ice-machine unit, and sprinkler system. Existing improvements include a full commercial kitchen, hood system, walk-in refrigeration, ice maker, dishwasher, ceramic tile flooring, central air, and natural gas heating.
The property has operated as a restaurant, sports bar, and entertainment venue at this location for more than 40 years. Reported venue capacity is approximately 280 people, with an established liquor license and cabaret license. On-street parking, public water, and public sewer serve the property. The building, business equipment, and included fixtures are offered strictly as-is.
The property has operated as a restaurant, sports bar, and entertainment venue at this location for more than 40 years. Reported venue capacity is approximately 280 people, with an established liquor license and cabaret license. On-street parking, public water, and public sewer serve the property. The building, business equipment, and included fixtures are offered strictly as-is.
Key Highlights
- Approximately 3,200 SF of above‑grade commercial space across two stories
- Approximately 1,950‑square‑foot lot measuring approximately 20 feet by 100 feet
- Reported venue capacity of approximately 280 people
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
$148,104
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
5.29%
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%
$2,962,080
$3.0M
Cap Rate 7%
$2,115,771
$2.1M
Cap Rate 9%
$1,645,600
$1.6M
Market Conditions
NOI Build-Up for 3,200 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
$211.2K $66.00/SF
− Vacancy
−$13.7K −$4.29/SF
EGI
$197.5K $61.71/SF
− OpEx
−$49.4K −$15.43/SF
NOI
$148.1K $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%
$2,962,080
Cap Rate 7%
$2,115,771
Cap Rate 9%
$1,645,600
Alternative Uses
Best Use
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,104 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,135 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
7,475
Businesses Nearby
307k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 24%
Groceries 18%
Apparel 7%
Mobil
Shops & Services
31,092 visits/mo
0.4 miles
Super Foodtown
Groceries
26,968 visits/mo
0.3 miles
McDonald's
Dining
24,424 visits/mo
0.5 miles
Jollibee
Dining
22,496 visits/mo
0.5 miles
Chase Bank
Shops & Services
22,417 visits/mo
0.2 miles
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Indian Taj — 3725 74th street, jackson heights, ny 11372
- Pakshala Dine — 8112 Broadway, Elmhurst, NY 11373
- icook buffet (好客火锅烧烤） — 81-17 broadway, queens, ny 11373
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing food-service improvements include a commercial kitchen, hood system, walk-in refrigeration, and dining and entertainment infrastructure.
Where is this conventional restaurant located?
The property is located at 7903 Roosevelt Avenue Jackson Heights, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 3,200 SF of above‑grade commercial space across two stories; Approximately 1,950‑square‑foot lot measuring approximately 20 feet by 100 feet; Reported venue capacity of approximately 280 people
