Mixed-Use Building with
For Sale
$5,350,000
10438 Jamaica Avenue, Richmond Hill, NY 11418
Two-family space, multiple storefronts, warehouse capacity, basement storage, and an on-site parking area occupy one property.
Property Size9,520 SF
Lot Size0.23 Acres
Days on Market258
Property Features for 10438 Jamaica Avenue
General Information
Standard status
Active
Size
9,520 SF
Lot size
0.23 Acres
Property subtype
Warehouse
Additional Details
Warehouse Space
4,000 SF
Taxes and HOA fees
Annual Taxes
$53,494
Building Details
Building Size
9,520 SF
Year Built
1964
Listing Agency:
Building 1 Property Mgmt Corp
(718) 463-8518
Listed By:
William Li CBR
(718) 463-8518
Source:
Yourhomesoldguaranteedrealty-therealmccoyteam
Added: Dec 17, 2025
Changed: Aug 29
Last Checked: Aug 31 at 12:39PM
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 Building 1 Property Mgmt Corp
Investment Insights
Based on property information with market context.
This mixed-use property combines a two-family residential component with three street-facing retail spaces. Additional improvements include a 4000 sqft warehouse, a 2000 sqft basement, and a 4000 sqft parking lot. The building was constructed in 1964.
Located at 10438 Jamaica Avenue in Jamaica North, NY 11418, the property brings residential, storefront, storage, and parking elements together within one mixed-use building package. Its configuration includes separate residential and commercial components, along with warehouse and basement areas that expand the available functional space.
Located at 10438 Jamaica Avenue in Jamaica North, NY 11418, the property brings residential, storefront, storage, and parking elements together within one mixed-use building package. Its configuration includes separate residential and commercial components, along with warehouse and basement areas that expand the available functional space.
Key Highlights
- Two‑family residential component within a mixed‑use property
- Three storefronts included in the building package
- 4000 sqft warehouse
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
$232,711
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
4.35%
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%
$4,654,220
$4.7M
Cap Rate 7%
$3,324,443
$3.3M
Cap Rate 9%
$2,585,678
$2.6M
Market Conditions
NOI Build-Up for 9,520 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
$439.8K $46.20/SF
− Vacancy
−$16.7K −$1.76/SF
EGI
$423.1K $44.44/SF
− OpEx
−$190.4K −$20.00/SF
NOI
$232.7K $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%
$4,654,220
Cap Rate 7%
$3,324,443
Cap Rate 9%
$2,585,678
Alternative Uses
Best Use
Apartment 5plus
$3.32M
$2.91M – $3.88M
NOI $232,711 @ 7.0% cap · market cap 4.35%
Second Best
Retail
$2.43M
$2.12M – $2.83M
NOI $169,932 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$7.02M
$6.14M – $8.19M
NOI $491,278 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,620
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-family space, multiple storefronts, warehouse capacity, basement storage, and an on-site parking area occupy one property.
Where is this mixed-use property located?
The property is located at 10438 Jamaica Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $5,350,000.
What are key features of this property?
This property features: Two‑family residential component within a mixed‑use property; Three storefronts included in the building package; 4000 sqft warehouse
