9 Hillside Avenue

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