Multi-Story Retail Income
88-22 Roosevelt Avenue Jackson Heights, NY 11372
For Sale
$1,850,000
COMMERCIAL - Jackson Heights, NY
Property Size2,818 SF
Lot Size0.03 Acres
Price / SF$656.49
Days on Market328
Property Features for 88-22 Roosevelt Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Standard status
Active
APN
01510-0064
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
26956
Utilities
Water source
Public
Building Details
Year built
1989
Floors in Building
2
Building materials
Masonite, Brick
Listing Agency:
HANMI REALTY
(718) 961-8801
Listed By:
Mi Ryoung Chong
(718) 961-8801
Added: Sep 6, 2025
Changed: Jul 27
Last Checked: Jul 30 at 3:06AM
MLS# 11570166
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 multi-story retail building contains three commercial units that are fully occupied. The property includes a street-level beauty salon of approximately 950 square feet, a second-floor real estate office of approximately 950 square feet, and a cellar space of approximately 918 square feet. The building was built in 1989 and is described as having fresh paint and tile floors.
The offering includes parking or lot size information is not provided in a way suitable for commercial presentation, but the lot size is listed as 1,093 square feet. The building is located at 88-22 Roosevelt Avenue in Jackson Heights, Queens, with street frontage and sign visibility referenced in the remarks.
The public remarks indicate current yearly rental income of $156,000 and current yearly net income around $120,000, with yearly property taxes listed as $26,956. The building is described as a Class K2 multi-story retail building (two or more), and the remarks list zoning as C2-3 and R6. The property is offered “as is,” with seller financing referenced in the remarks.
The offering includes parking or lot size information is not provided in a way suitable for commercial presentation, but the lot size is listed as 1,093 square feet. The building is located at 88-22 Roosevelt Avenue in Jackson Heights, Queens, with street frontage and sign visibility referenced in the remarks.
The public remarks indicate current yearly rental income of $156,000 and current yearly net income around $120,000, with yearly property taxes listed as $26,956. The building is described as a Class K2 multi-story retail building (two or more), and the remarks list zoning as C2-3 and R6. The property is offered “as is,” with seller financing referenced in the remarks.
Key Highlights
- Three fully occupied commercial units in a multi‑story retail building built in 1989
- Approx. 2,818 total SF including the cellar, with street‑side beauty salon (~950 SF) and additional ~918 SF cellar space
- Yearly rental income reported at $156,000; current yearly net income around $120,000 at a stated 6.5% cap
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $142.0k | $50.40 |
| − Vacancy | −$18.3k | −$6.50 |
| EGI | $123.7k | $43.90 |
| − OpEx | −$30.9k | −$10.97 |
| NOI | $92.8k | $32.92 |
2,818 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,779 @ 7.0% cap · market cap 5.02%
Second Best
Retail
$718.6K
$628.8K – $838.4K
NOI $50,301 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,422 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Sussy's Florist — 81-10A Broadway, Queens, NY 11373
- Ocasiones Flowers Shop — 42-20 Junction Blvd, Corona, NY 11368
- International Flowers & Party Goods — 4220 Junction Blvd, Elmhurst, NY 11373
- Bettys Total Events — 94-33 Corona Ave., Elmhurst, NY 11373
- John David Florist - Flower Delivery Queens NY — 8277 broadway, queens, ny 11373
Frequently Asked Questions
What type of property is this?
Storefront property - Three fully occupied retail and office units with fresh paint and tile floors in a multi-story building.
Where is this storefront property located?
The property is located at 88-22 Roosevelt Avenue Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Three fully occupied commercial units in a multi‑story retail building built in 1989; Approx. 2,818 total SF including the cellar, with street‑side beauty salon (~950 SF) and additional ~918 SF cellar space; Yearly rental income reported at $156,000; current yearly net income around $120,000 at a stated 6.5% cap
