9 Hillside Avenue
About this property
Exceptional investment opportunity in the heart of Inwood/Washington Heights. This fully leased commercial property is occupied by a well-established neighborhood deli operating under a Triple Net (NNN) lease, providing investors with stable income and minimal landlord responsibilities. Under the current lease structure, the tenant is responsible for real estate taxes, utilities, maintenance, and operating expenses. The property consists of an approximately 2,500 SF retail building situated on a 25' x 100' lot (2,500 SF) and is located within an R7-2 zoning district, offering significant long-term redevelopment potential. The current lease includes scheduled rent increases, generating annual rental income of approximately $82,800 through 2027, increasing to $85,284 in 2028, $87,840 in 2029, and $90,468 thereafter, creating built-in income growth for future ownership. In addition to strong cash flow, the property offers substantial upside through its development potential. The R7-2 zoning allows for approximately 8,600 buildable square feet, making this an attractive long-term hold for investors and developers alike. This asset presents a unique opportunity to benefit from both current returns and future appreciation. Conveniently located near the A and 1 subway lines, major bus routes, schools, parks, and neighborhood retail, the property benefits from strong visibility, steady foot traffic, and a dense residential population. Property HighlightsAsking Price: $1,450,000Triple Net (NNN) LeaseEstablished Deli TenantCurrent Annual Rent: $82,800Scheduled Rent Increases Through Lease TermLot Size: 25' x 100' (2,500 SF)Existing Building: Approx. 2,500 SFR7-2 ZoningApprox. 8,600 Buildable SFStrong Income with Future Development PotentialIdeal for Investors, 1031 Exchange Buyers, and Developers Financials and lease information available upon request. Showings by appointment only.
About this property
Exceptional investment opportunity in the heart of Inwood/Washington Heights. This fully leased commercial property is occupied by a well-established neighborhood deli operating under a Triple Net (NNN) lease, providing investors with stable income and minimal landlord responsibilities. Under the current lease structure, the tenant is responsible for real estate taxes, utilities, maintenance, and operating expenses. The property consists of an approximately 2,500 SF retail building situated on a 25' x 100' lot (2,500 SF) and is located within an R7-2 zoning district, offering significant long-term redevelopment potential. The current lease includes scheduled rent increases, generating annual rental income of approximately $82,800 through 2027, increasing to $85,284 in 2028, $87,840 in 2029, and $90,468 thereafter, creating built-in income growth for future ownership. In addition to strong cash flow, the property offers substantial upside through its development potential. The R7-2 zoning allows for approximately 8,600 buildable square feet, making this an attractive long-term hold for investors and developers alike. This asset presents a unique opportunity to benefit from both current returns and future appreciation. Conveniently located near the A and 1 subway lines, major bus routes, schools, parks, and neighborhood retail, the property benefits from strong visibility, steady foot traffic, and a dense residential population. Property HighlightsAsking Price: $1,450,000Triple Net (NNN) LeaseEstablished Deli TenantCurrent Annual Rent: $82,800Scheduled Rent Increases Through Lease TermLot Size: 25' x 100' (2,500 SF)Existing Building: Approx. 2,500 SFR7-2 ZoningApprox. 8,600 Buildable SFStrong Income with Future Development PotentialIdeal for Investors, 1031 Exchange Buyers, and Developers Financials and lease information available upon request. Showings by appointment only.
Features and Additional Information
Presented By Smitchger Realty
Want to See More Listings in the Area?
Brokerage: ADCNY Realty Corp
