Three-Unit Mixed-Use
For Sale
$1,480,000
8505 Jamaica Ave, Woodhaven, NY 11421
Residential Income, Woodhaven, NY
Property Size3,200 SF
Lot Size0.05 Acres
Price / SF$462.50
Days on Market51
Property Features for 8505 Jamaica Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Security features
Security System
Subdivision
Jamaica
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #27
Directions
Google Map
Standard status
Active
Size
3,200 SF
Lot size
0.05 Acres
Utilities
Heating system
Radiant, Hot Water(Heating), Natural Gas
Building Details
Year built
1931
Floors in Building
2
Listing Agency:
EXP COMMERCIAL LLC
8554520344x105
Listed By:
Jiangwei Zhou · License ##10301222821
Added: Jul 9
Changed: Aug 25
Last Checked: Aug 28 at 7:06PM
MLS# 11877548
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 three-unit mixed-use property combines a street-level commercial storefront with two apartments on the floors above. The approximately 2,000-square-foot commercial area has a flexible layout and may accommodate retail, office, or service-oriented operations subject to permitted uses and required approvals. Total property size is 3,200 square feet on a 0.0467-acre lot.
Built in 1931, the building is located at 8505 Jamaica Ave in Woodhaven, NY, near the J/Z subway at the 85th Street-Forest Parkway station. The property is within an R6A zoning district. Heating includes radiant and hot water systems using natural gas. Buyers should verify dimensions, zoning, permitted uses, development rights, and other property information independently.
Built in 1931, the building is located at 8505 Jamaica Ave in Woodhaven, NY, near the J/Z subway at the 85th Street-Forest Parkway station. The property is within an R6A zoning district. Heating includes radiant and hot water systems using natural gas. Buyers should verify dimensions, zoning, permitted uses, development rights, and other property information independently.
Key Highlights
- Three‑unit configuration with one commercial storefront and two residential apartments
- Approximately 2,000‑square‑foot ground‑floor commercial space
- 3,200 square feet of total property size on a 0.0467‑acre lot
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
$78,222
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
5.29%
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%
$1,564,440
$1.6M
Cap Rate 7%
$1,117,457
$1.1M
Cap Rate 9%
$869,133
$869.1K
Market Conditions
NOI Build-Up for 3,200 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
$147.8K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$142.2K $44.44/SF
− OpEx
−$64.0K −$20.00/SF
NOI
$78.2K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,564,440
Cap Rate 7%
$1,117,457
Cap Rate 9%
$869,133
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.8K – $1.30M
NOI $78,222 @ 7.0% cap · market cap 5.29%
Second Best
Retail
$816.0K
$714.0K – $952.0K
NOI $57,120 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,135 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 11421, NY
42,586
Population
12,776
Households
3.3
Avg Household Size
38
Median Age
26%
College-Educated
79%
High-School Grad
1.3 sq mi
ZIP Area
32,758
Density / Sq Mi
$89,439
Median Household Income
$40,934
Median Earnings
$1,901
Median Rent
$682,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space sits beneath two residential apartments.
Where is this mixed-use property located?
The property is located at 8505 Jamaica Ave Woodhaven, 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: Three‑unit configuration with one commercial storefront and two residential apartments; Approximately 2,000‑square‑foot ground‑floor commercial space; 3,200 square feet of total property size on a 0.0467‑acre lot
