Brick Mixed-Use Building with
For Sale
$1,328,000
104-18 Jamaica Avenue, Richmond Hill, NY 11418
Fully rented property combines a visible commercial storefront with two residential units and separately metered utilities.
Property Size1,670 SF
Days on Market164
Property Features for 104-18 Jamaica Avenue
General Information
Standard status
Active
Size
1,670 SF
Property subtype
Commercial
Zoning
R6A
Occupancy
100%
Additional Details
Cap Rate
5.5%
Taxes and HOA fees
Annual Taxes
$5,932
Amenities
separated meters
Building Details
Building Size
1,670 SF
Year Built
1920
Buildings
1
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
B Square Realty
(347) 272-8002
Listed By:
Junbing Ye
(347) 272-8002
Source:
Cohenandcohenrealty
Added: Mar 10
Changed: Aug 20
Last Checked: Aug 20 at 2:39AM
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 B Square Realty
Investment Insights
Based on property information with market context.
Built in 1920, this brick mixed-use property includes a commercial storefront and two residential units with 2 bedrooms and 1 bathroom. The building was updated and renovated 6 years ago, with improvements including new windows, electrical service, and a heating system. The property is fully rented, with long-term tenants in place and a current cap rate of 5.5%.
Located at 104-18 Jamaica Avenue in Richmond Hill, the property sits in a high-density setting with both pedestrian and vehicle traffic. Separate gas and electric meters serve the tenant spaces. The building is zoned R6A and combines commercial and residential components within a single asset.
Located at 104-18 Jamaica Avenue in Richmond Hill, the property sits in a high-density setting with both pedestrian and vehicle traffic. Separate gas and electric meters serve the tenant spaces. The building is zoned R6A and combines commercial and residential components within a single asset.
Key Highlights
- Mixed‑use building with commercial storefront and two residential units
- Fully rented with long‑term tenants in place
- Updated and renovated 6 years ago
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
$40,822
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
3.07%
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%
$816,440
$816.4K
Cap Rate 7%
$583,171
$583.2K
Cap Rate 9%
$453,578
$453.6K
Market Conditions
NOI Build-Up for 1,670 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
$77.2K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$74.2K $44.44/SF
− OpEx
−$33.4K −$20.00/SF
NOI
$40.8K $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%
$816,440
Cap Rate 7%
$583,171
Cap Rate 9%
$453,578
Alternative Uses
Best Use
Apartment 5plus
$583.2K
$510.3K – $680.4K
NOI $40,822 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$425.8K
$372.6K – $496.8K
NOI $29,809 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,180 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
Explore this area
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
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 - Fully rented property combines a visible commercial storefront with two residential units and separately metered utilities.
Where is this mixed-use property located?
The property is located at 104-18 Jamaica Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,328,000.
What are key features of this property?
This property features: Mixed‑use building with commercial storefront and two residential units; Fully rented with long‑term tenants in place; Updated and renovated 6 years ago
