Mixed-Use Property with Commercial
For Sale
$1,480,000
113-10 Jamaica Ave, New York, NY 11418
Residential Income, New York, NY
Property Size3,300 SF
Lot Size0.08 Acres
Price / SF$448.48
Days on Market50
Property Features for 113-10 Jamaica Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Bedroom 1, Bathroom 5, Bathroom 1, Bedroom 3, Bathroom 3
Security features
Security System
Subdivision
Richmond Hill
High school district
27
Directions
Google Map
Standard status
Active
Size
3,300 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
10557
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1920
Building materials
Brick
Roof type
Flat
Listing Agency:
EXP COMMERCIAL LLC
8554520344x105
Listed By:
Jiangwei Zhou · License ##10301222821
Added: Jul 10
Changed: Aug 23
Last Checked: Aug 28 at 7:06PM
MLS# 11878328
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-level commercial area with two residential units on the upper floors. The building contains approximately 3,300 square feet on a 0.0758-acre lot, with brick construction, a flat roof, natural gas heating, and public water service. The residential component is described as fully renovated with a three-bedroom, two-bath configuration, although the source information does not specify how those features are allocated between the two units.
Located on Jamaica Avenue in Richmond Hill, the property provides a commercial-and-residential format within a single building. The ground-floor space may support an owner-operated business or another permitted commercial use, while the upper units may be used for residential occupancy or company-leased accommodations, subject to applicable laws, permitted uses, and required approvals. The building dates to 1920.
Located on Jamaica Avenue in Richmond Hill, the property provides a commercial-and-residential format within a single building. The ground-floor space may support an owner-operated business or another permitted commercial use, while the upper units may be used for residential occupancy or company-leased accommodations, subject to applicable laws, permitted uses, and required approvals. The building dates to 1920.
Key Highlights
- Two residential units above a ground‑floor commercial space
- Approximately 3,300 square feet on a 0.0758‑acre lot
- Located on Jamaica Avenue in Richmond Hill
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,684
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,233,680
$2.2M
Cap Rate 7%
$1,595,486
$1.6M
Cap Rate 9%
$1,240,933
$1.2M
Market Conditions
NOI Build-Up for 3,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$168.3K $51.00/SF
− Vacancy
−$8.8K −$2.65/SF
EGI
$159.5K $48.35/SF
− OpEx
−$47.9K −$14.50/SF
NOI
$111.7K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,233,680
Cap Rate 7%
$1,595,486
Cap Rate 9%
$1,240,933
Alternative Uses
Best Use
Retail
$6.63M
$5.80M – $7.74M
NOI $464,391 @ 7.0% cap · market cap 31.38%
Second Best
Multifamily LT 5
$1.60M
$1.40M – $1.86M
NOI $111,684 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$8.21M
$7.19M – $9.58M
NOI $574,992 @ 7.0% cap · market cap 38.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with two residential units above.
Where is this mixed-use property located?
The property is located at 113-10 Jamaica Ave New York, NY.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Two residential units above a ground‑floor commercial space; Approximately 3,300 square feet on a 0.0758‑acre lot; Located on Jamaica Avenue in Richmond Hill
