Property profile

71-04 Grand Ave Queens, NY 11378

OFF-MARKET
Retail properties & Spaces
4,446 SF Built 1930
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Property summary

AI-generated overview

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

Verified
Property type Retail properties & Spaces
Year built 1930
Total area 4,446 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

71-04 Grand Ave Queens, NY 11378
Queens metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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