Single-Tenant Retail
For Sale
$2,900,000
101-20 Jamaica Ave, Richmond Hill, NY 11418
Single-tenant retail storefront for sale at 101-20 Jamaica Ave, offered with a fully controllable entry point.
Property Size6,800 SF
Price / SF$426.47
Days on Market65
Property Features for 101-20 Jamaica Ave
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Vacant-User
Amenities
Turnkey owner-user delivery — offered free & clear with vacant possession; a buyer can occupy or re-tenant the full 6,800 SF from day one, with no in-place lease to unwind.
Built-in service infrastructure — two drive-in bays, lift-ready, on heavy 1910 steel-and-timber framing; immediately operational for an auto, fleet, or trade/service user.
Flexible C2-4 zoning — retail, medical, religious, and food uses permitted by-right, widening the owner-user and tenant pool well beyond auto.
Assemblage optionality — adjacent 101-24 corner separately available; combined, the two assemble ~50.5 ft of Jamaica Ave frontage and 23,720 SF total buildable (corner-plus-run).
Prime Jamaica Avenue frontage — dense Richmond Hill retail spine with strong pedestrian flow; two blocks from the J/Z trains at 102 & 104 Streets.
Building Details
Building Size
6,800 SF
Year Built
1910
Tenancy
Single
Listed By:
Michael Kook · License #License(s): NY: 10301216047, NY: 10491208242
(212) 430-5169
Source:
Marcusmillichap
Added: Jul 3
Changed: Aug 8
Last Checked: Sep 5 at 3:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Michael Kook
Investment Insights
Based on property information with market context.
101-20 Jamaica Ave is a single-tenant retail storefront opportunity for sale in Richmond Hill, Queens. The property is presented as a fully controllable asset with a single-tenant entry point, allowing an owner to take control without inheriting another party’s tenancy or business.
Situated on Jamaica Avenue, the property is positioned within a long-standing neighborhood retail corridor. The offering is described as usable immediately for a buyer seeking to own real estate in place, with the flexibility to support different buyer strategies over time.
The seller’s materials emphasize optionality for an owner-operator or investor, presenting the asset as a way to acquire a controllable storefront in a corridor setting where small owner-held buildings are described as uncommon. The property is listed for sale at $2,900,000 and is identified as approximately 6,800 square feet in size.
Situated on Jamaica Avenue, the property is positioned within a long-standing neighborhood retail corridor. The offering is described as usable immediately for a buyer seeking to own real estate in place, with the flexibility to support different buyer strategies over time.
The seller’s materials emphasize optionality for an owner-operator or investor, presenting the asset as a way to acquire a controllable storefront in a corridor setting where small owner-held buildings are described as uncommon. The property is listed for sale at $2,900,000 and is identified as approximately 6,800 square feet in size.
Key Highlights
- Single‑tenant retail storefront for sale at 101‑20 Jamaica Ave
- Year built: 1910
- Offered with a fully controllable entry point and without inheriting another tenancy or business
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
$121,380
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
4.19%
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%
$2,427,600
$2.4M
Cap Rate 7%
$1,734,000
$1.7M
Cap Rate 9%
$1,348,667
$1.3M
Market Conditions
NOI Build-Up for 6,800 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
$204.0K $30.00/SF
− Vacancy
−$30.6K −$4.50/SF
EGI
$173.4K $25.50/SF
− OpEx
−$52.0K −$7.65/SF
NOI
$121.4K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /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%
$2,427,600
Cap Rate 7%
$1,734,000
Cap Rate 9%
$1,348,667
Alternative Uses
Best Use
Retail
$1.73M
$1.52M – $2.02M
NOI $121,380 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.39M – $5.85M
NOI $350,913 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
46k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 75%
Shops & Services 14%
Dining 11%
C-Town Supermarkets
Groceries
19,248 visits/mo
0.1 miles
Western Beef
Groceries
15,102 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,867 visits/mo
0.3 miles
Domino's Pizza
Dining
2,852 visits/mo
0.2 miles
Little Caesars Pizza
Dining
2,186 visits/mo
0.1 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-tenant retail storefront for sale at 101-20 Jamaica Ave, offered with a fully controllable entry point.
Where is this storefront property located?
The property is located at 101-20 Jamaica Ave Richmond Hill, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Single‑tenant retail storefront for sale at 101‑20 Jamaica Ave; Year built: 1910; Offered with a fully controllable entry point and without inheriting another tenancy or business
