This offering presents an opportunity to acquire a mixed-use property together with an established restaurant and bar business from long-term ownership. The property is located along the Hillside Avenue corridor in Jamaica, Queens, an area known for consistent foot and vehicular traffic. The offering combines income-producing real estate with an operating food and beverage business.
BUSINESS OVERVIEW (Included in Sale)
- Restaurant and bar business in operation for approximately 35 years under current ownership
- Liquor service approved on multiple levels (subject to license transfer)
- Built-out basement bar space, currently not in operation
- Seller-provided business valuation estimated at $340,000, included in the overall purchase price
- Business operations, licenses, and financials subject to verification by purchaser
CURRENT INCOME SUMMARY (As Provided by Ownership)
- Commercial : $7,000/month (potential) Owned by landlord
- Residential Units (2): $3,300/month total (reported below prevailing market levels) $2000 per apt is market
- Basement Bar: $3000 But Currently not producing income
Reported Total Current Income: $12,550/month ($150,600 annually)
Income figures are not guaranteed and should be independently verified.
POTENTIAL CONSIDERATIONS
- Residential rents may be adjusted upon vacancy in accordance with applicable laws
- Basement bar space may be utilized, subject to reopening, licensing, and operational approvals
- Business expansion opportunities may include third-party delivery platforms, catering, or private events
- Branding, menu, and operational changes may be explored at purchaser's discretion
COMPARABLE SALES (Hillside Avenue - Approximate)
- 153-36 Hillside Ave - $1.47M Approx. 2,178 SF
- 182-34 Hillside Ave - $1.645M Approx. 2,475 SF
- 182-34/36 Hillside Ave (Package) - $3.534M Approx. 4,573 SF
Comparable data provided for reference only; not a representation of value.
VALUATION CONTEXT (Illustrative Only) Price-per-square-foot ranges on Hillside Avenue have varied based on asset condition, income profile, and market conditions. Any valuation estimates are for discussion purposes only and are not guarantees of market value.
CLOSING REMARKS 180-18 Hillside Avenue offers a mixed-use asset with existing income and an operating restaurant business, providing multiple components for a purchaser to evaluate. The property may appeal to investors or owner-operators seeking a combination of residential, commercial, and business use, subject to customary due diligence, approvals, and verification.
Please Note this is R7 Zoning
