Property summary
This exceptional Queens restaurant presents a unique turnkey opportunity for a savvy investor or restaurateur. Located at 71-04 Grand Avenue in the vibrant Queens neighborhood (zip code 11378), this three-story, 4,446 square foot property boasts a rich history, having been built in 1930. Currently vacant, the property offers a significant advantage for a new owner to establish their vision without the need for extensive renovations. The asking price is $140,000, representing a compelling investment in a well-established location. The interior features a fully equipped kitchen, including two gas stoves, two large gas stoves, a fryer, three freezers (one for vegetables and two for meat), a walk-in cooler, an ice machine, a dishwasher, three sinks, and ample prep space. The dining area comfortably accommodates 65 guests, with seven booths and three tables with chairs. Additional features include a bar, a backyard area, a full basement with an office, two bathrooms, a storage closet, and two tablets. The property also includes one large refrigerator, one small two-door refrigerator, a rice warmer, and a storage table. The lease has a remaining term of nine years, providing long-term stability for the new owner. This is a rare chance to acquire a fully equipped, ready-to-operate restaurant in a prime location. The seller is highly motivated and open to negotiations. Five units are included in the sale.
Property profile
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Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Property description
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