Mixed-Use Building with Medical
For Sale
$1,798,000
102-28 Jamaica Avenue, Richmond Hill, NY 11418
An occupied medical practice and four one-bedroom apartments combine commercial and residential space in one property.
Property Size6,270 SF
Price / SF$425.06
Days on Market67
Property Features for 102-28 Jamaica Avenue
General Information
Standard status
Active
Size
6,270 SF
Property subtype
Commercial Building
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Office Units
1
Additional Details
Sprinkler System
Yes
Tenant in Place
Yes
Property Use
Mixed-Use
Building Details
Year Built
2007
Buildings
1
Building Size
6,270 SF
Construction
concrete, brick, and steel
Tenancy
Multi
Listing Agency:
Gosen properties
(718) 704-0494
Listed By:
Emmanuel Victor
(718) 598-7374
Source:
Gosenproperties
Added: Aug 24
Changed: Oct 28
Last Checked: Oct 28 at 4:05PM
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 Gosen properties
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Investment Insights
Based on property information with market context.
Built in 2007, this mixed-use property combines a medical office with four one-bedroom apartments. The ground-floor commercial space measures approximately 2,040 square feet, and the finished basement provides another approximately 2,040 square feet, including a utility area. Each apartment is approximately 500 square feet and has an independent heating and boiler system. Construction includes concrete, brick, and steel, and the building has a sprinkler system.
The property is at 102-28 Jamaica Avenue in Richmond Hill, along the Jamaica Avenue commercial corridor. The J and Z subway lines and the Q56 bus route are nearby. The building is fully occupied, with medical office use on the ground floor and residential units above.
The property is at 102-28 Jamaica Avenue in Richmond Hill, along the Jamaica Avenue commercial corridor. The J and Z subway lines and the Q56 bus route are nearby. The building is fully occupied, with medical office use on the ground floor and residential units above.
Key Highlights
- Fully occupied mixed‑use property with a medical office and four apartments
- Ground‑floor medical office space of approximately 2,040 square feet
- Finished basement of approximately 2,040 square feet with a dedicated utility area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,268
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,785,360
$2.8M
Cap Rate 7%
$1,989,543
$2.0M
Cap Rate 9%
$1,547,422
$1.5M
Market Conditions
NOI Build-Up for 4,230 SF
Gross rent
$213.2K $50.40/SF
− Vacancy
−$27.5K −$6.50/SF
EGI
$185.7K $43.90/SF
− OpEx
−$46.4K −$10.97/SF
NOI
$139.3K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,785,360
Cap Rate 7%
$1,989,543
Cap Rate 9%
$1,547,422
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $139,268 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,400 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,288 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - An occupied medical practice and four one-bedroom apartments combine commercial and residential space in one property.
Where is this mixed-use property located?
The property is located at 102-28 Jamaica Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,798,000.
What are key features of this property?
This property features: Fully occupied mixed‑use property with a medical office and four apartments; Ground‑floor medical office space of approximately 2,040 square feet; Finished basement of approximately 2,040 square feet with a dedicated utility area
