Mixed-Use Property with
New
For Sale
$5,350,000
10438 Jamaica Avenue, Richmond Hill, NY 11418
The property combines two-family housing, four retail spaces, and a laundromat.
Property Size7,000 SF
Lot Size0.23 Acres
Price / SF$764.29
Days on Market2
Property Features for 10438 Jamaica Avenue
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.23 Acres
Property subtype
Residential Income
Zoning
R6A
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Annual Taxes
$53,000
Amenities
Storage Space
4
Yes
6
Eat-in Kitchen
No
Public
70
Parking Lot
7000
Building Details
Building Size
7,000 SF
Year Built
1964
Listing Agency:
Building 1 Property Mgmt Corp
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Oct 31 at 2:16PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property includes a two-family residence, four storefronts, and a laundromat. The building package also includes land with an approved plan for development.
The two combined lots total 10,000 square feet. The property is zoned R6A, with 30,000 buildable square feet noted. The building dates to 1964.
The two combined lots total 10,000 square feet. The property is zoned R6A, with 30,000 buildable square feet noted. The building dates to 1964.
Key Highlights
- Two‑family residence, four storefronts, and a laundromat
- Two combined lots total 10,000 square feet
- 30,000 buildable square feet noted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,111
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,422,220
$3.4M
Cap Rate 7%
$2,444,443
$2.4M
Cap Rate 9%
$1,901,233
$1.9M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$323.4K $46.20/SF
− Vacancy
−$12.3K −$1.76/SF
EGI
$311.1K $44.44/SF
− OpEx
−$140.0K −$20.00/SF
NOI
$171.1K $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 Rate 5%
$3,422,220
Cap Rate 7%
$2,444,443
Cap Rate 9%
$1,901,233
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.14M – $2.85M
NOI $171,111 @ 7.0% cap · market cap 3.20%
Second Best
Retail
$1.78M
$1.56M – $2.08M
NOI $124,950 @ 7.0% cap · market cap 2.34%
Theoretical Best
Office A
$5.16M
$4.52M – $6.02M
NOI $361,234 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,620
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines two-family housing, four retail spaces, and a laundromat.
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 residence, four storefronts, and a laundromat; Two combined lots total 10,000 square feet; 30,000 buildable square feet noted
