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$1,450,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 928079
Rental Info No
Year Built 1960
Annual Tax Amount $21,377
Property Sub-Type Other
Source onekey2
Property Description
7-9 Hillside Ave, New York, NY 10040. Investment with Strong Income and Future Development Potential
Prime investment opportunity located in the heart of Inwood/Washington Heights. This one-story commercial property is currently leased to a well-established deli, offering consistent rental income and significant long-term redevelopment potential under R7-2 zoning.
The property sits on a 25 × 100 ft lot (2,500sqft) with the ability to build up to approximately 8,600 sq ft. The existing structure is around 2,500sqft and in solid condition. The current tenant operates a successful neighborhood deli under a 5 year remaining lease, paying $6,000/month ($72,000/year). Estimated Net Operating Income (NOI) is approximately $61,200/year, offering attractive returns depending on final negotiated price.
This property presents a rare opportunity for both passive investors seeking stable cash flow and developers looking for future upside. R7-2 zoning allows for potential multi-family or mixed-use development when the current lease expires. Located steps away from the A and 1 subway lines, parks, and major retail corridors, the property benefits from strong foot traffic, excellent visibility, and access to local amenities.
Property Highlights:
•Asking Price: $1,450,000 (Negotiable)
•Lot Size: 25 × 100 ft (2,500 sq ft)
•Buildable Area: ~8,600 sq ft (R7-2 zoning)
•Existing Tenant: Established Deli (5 years remaining)
•Current Rent: $6,000/month ($72,000/year)
•Stable income with future redevelopment potential
•Excellent location near subways, schools, and residential buildings
Prime investment opportunity located in the heart of Inwood/Washington Heights. This one-story commercial property is currently leased to a well-established deli, offering consistent rental income and significant long-term redevelopment potential under R7-2 zoning.
The property sits on a 25 × 100 ft lot (2,500sqft) with the ability to build up to approximately 8,600 sq ft. The existing structure is around 2,500sqft and in solid condition. The current tenant operates a successful neighborhood deli under a 5 year remaining lease, paying $6,000/month ($72,000/year). Estimated Net Operating Income (NOI) is approximately $61,200/year, offering attractive returns depending on final negotiated price.
This property presents a rare opportunity for both passive investors seeking stable cash flow and developers looking for future upside. R7-2 zoning allows for potential multi-family or mixed-use development when the current lease expires. Located steps away from the A and 1 subway lines, parks, and major retail corridors, the property benefits from strong foot traffic, excellent visibility, and access to local amenities.
Property Highlights:
•Asking Price: $1,450,000 (Negotiable)
•Lot Size: 25 × 100 ft (2,500 sq ft)
•Buildable Area: ~8,600 sq ft (R7-2 zoning)
•Existing Tenant: Established Deli (5 years remaining)
•Current Rent: $6,000/month ($72,000/year)
•Stable income with future redevelopment potential
•Excellent location near subways, schools, and residential buildings
Location
State NY
County New York (manhattan)
Rooms
Basement See Remarks
Interior
Heating Other
Cooling Ductless
Fireplace No
Exterior
Utilities Available See Remarks
Building
Story 1
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Block,Other
Others
Special Listing Condition None
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Listed by ADCNY Realty Corp • Bruno F. Ruiz-Castano