Description

Renovated Turnkey Restaurant Space Plus 2BR Apartment Mixed-Use Building on College Point Blvd

Rare mixed-use offering on the busy College Point Boulevard retail corridor, about a 5 minute drive from Downtown Flushing. For years this storefront was home to Little Pepper, an acclaimed Sichuan restaurant recommended by the Michelin Guide and reviewed in The New York Times. It drew a loyal following and steady customer traffic to this location.

The 20 x 70 ft ground-floor restaurant is fully renovated and ready to operate. It has a fully equipped commercial kitchen with a stainless steel exhaust hood and prep lines, plus an updated dining room with large storefront windows facing a high-traffic block. Upstairs is a bright 2 bedroom, 1 bath apartment with hardwood floors, a living room and a full kitchen. A full basement adds plenty of room for storage or extra operations.

Built in 1928 and updated in 2008, the brick building has about 2,700 sq ft across two floors on a 20 x 100 ft lot, plus a full basement. It is zoned R5B with a C1-3 commercial overlay and has natural gas heat and public water and sewer. It is close to the Q20A and Q65 buses and the Whitestone Expressway, with quick access to LaGuardia. It works well for an owner-user, an income investor, or a 1031 exchange buyer. Annual taxes are about $23,000.

Sale includes the real estate only. The Little Pepper name and brand are not included. Showings are by appointment, and co-brokes are welcome.