18018 Hillside Avenue, Jamaica, NY, 11432 | $2,750,000

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

Features

  • Property Type: Mixed Use
  • Construction: Stucco
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Water Connected
  • Heating: Natural Gas
  • Cooling: Electric
  • Units: 4
  • Year Built: 1992
  • Acreage: 0.05
  • Est. Taxes: $27,226
  • MLS#: 943738
  • Days on Market: 53 days
  • Website: https://www.raveis.com
    /prop/943738/18018hillsideavenue_jamaica_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of Corcoran   Phone: 212-683-8300

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

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18018 Hillside Avenue, Jamaica, NY, 11432

$2,750,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,200,000 $2,200,000 $2,200,000
Term 360 months 360 months 180 months
Initial Interest Rate** 4.875% 5.625% 5.375%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 5.925% 5.732% 5.555%
Monthly Tax Payment $2,269 $2,269 $2,269
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $11,643 $12,664 $17,830
Total Monthly Payment $14,037 $15,058 $20,224

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.