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    Jamaica Avenue Retail Development Opportunity Title is generated by Realmo AI

    168-15 Jamaica Avenue, Jamaica, NY 11432

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    Picture of Storefront properties at 168-15 Jamaica Avenue, Jamaica, NY
    For Sale
    $5,800,000

    Commercial Building - Jamaica, NY

    Property size:
    16,185 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $358/SF
    Added:
    Jan 16, 2026
    Days on Market:
    117
    Last Refresh:
    May 13 at 8:06 am

    Property Features for 168-15 Jamaica Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Size
    16,185 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Year built
    1931
    Year renovated
    1931
    Floors in Building
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Alexandre Goulet

    Listing agent Alexandre Goulet

    Listing office Landair Property Advisors, LLC 224 W 30th Street, New York, NY

    Listing date Jan 16, 2026

    MLS# 11633018 Listing URL

    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.

    HighLights

    • Prime retail building and development opportunity in Jamaica.
    • Two lots totaling 7,902 sq. ft. with a 16,185 sq. ft. block‑through retail building.
    • Zoned C6‑2, DJ, allowing for potential residential building of up to 49,524 sq. ft.
    • Will be delivered vacant at closing.
    • Not subject to MIH requirements.
    • Located on Jamaica Avenue between 168th & 169th Street.

    Overview

    Located at 168-15 Jamaica Avenue & 168-19 91st Avenue in Jamaica, this property presents a retail building and development opportunity. The property consists of two lots totaling 7,902 square feet, improved by a 16,185 square foot block-through retail building. Situated on Jamaica Avenue, between 168th and 169th Street, the properties are zoned C6-2, DJ, allowing for a potential residential building of up to 49,524 square feet. The properties will be delivered vacant at closing. The real estate market in Jamaica is experiencing growth, driven by its accessibility and ongoing urban development. This property is not located in the Jamaica Neighborhood rezoning and is therefore not subject to MIH requirements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Flower Bloom Tea Llc — Queens, NY 11433
    • J&J Floral Variety — 87-40 Parsons Blvd, Queens, NY 11432
    • Benicia Florist Same Day Delivery Inc — 90-48 170th st #6, queens, ny 11432
    • David Flowers — 9040 160th St, Jamaica, NY 11432
    • Flowers By Massenet — 17610 brinkerhoff ave, queens, ny 11433

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.792048
    Latitude
    40.70671

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    FAQs

    What type of property is this?
    Storefront property - Prime retail building and development opportunity in Jamaica, NY.
    Where is this storefront property located?
    The property is located at 168-15 Jamaica Avenue Jamaica, NY.
    What is the asking price?
    The asking price for this property is $5,800,000.
    What are key features of this property?
    This property features: Prime retail building and development opportunity in Jamaica.; Two lots totaling 7,902 sq. ft. with a 16,185 sq. ft. block‑through retail building.; Zoned C6‑2, DJ, allowing for potential residential building of up to 49,524 sq. ft.
    (212) 920-7658
    We can help!
    Listing Contact
    Alexandre Goulet
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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