Building Details

Building Size 4,420 SF

Year Built 1931

Buildings 1

Units 2

Tenancy Multi

Listing Agency: Trademarko Realty Inc i***@trademarkorealty.com Show Phone

Listed By: Marek Sobolewski · License #10311207231 Show Phone

Source: Croninreale

Added: Aug 1 Changed: Oct 23 Last Checked: Oct 23 at 4:49PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This medical office property at 105-09 Jamaica Avenue comprises two commercial units, each occupied by a medical tenant with an NN lease. The building is in an R6A zoning district, with stated potential for an additional 7,337 square feet of construction and a total of 11,757 square feet; these figures describe the stated development scenario.

Jamaica Avenue is one block from the J and Z subway station. Stores, banks, and restaurants are also nearby.

Key Highlights

• Two commercial units occupied by medical tenants
• NN leases in place
• R6A zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$145,523

Cap Rate

6.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,910,460 $2.9M

Cap Rate 7%

$2,078,900 $2.1M

Cap Rate 9%

$1,616,922 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,420 SF

Gross rent

$222.8K $50.40/SF

− Vacancy

−$28.7K −$6.50/SF

EGI

$194.0K $43.90/SF

− OpEx

−$48.5K −$10.97/SF

NOI

$145.5K $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%

$2,910,460

Cap Rate 7%

$2,078,900

Cap Rate 9%

$1,616,922

Alternative Uses

Best Use

Office B

$2.08M

$1.82M – $2.43M (±1% cap)

NOI $145,523 @ 7.0% cap · market cap 6.77%

Second Best

Healthcare Medical

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,916 @ 7.0% cap · market cap 4.74%

Theoretical Best

Office A

$3.26M

$2.85M – $3.80M (±1% cap)

NOI $228,093 @ 7.0% cap · market cap 10.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

JOANNE RIZE GALLART Physician Kanter Physical Medicine ... Medical Clinic

Suggested Use

Top Pick Law Firm Parking Lot & Garage Cafe & Coffee Shop Nursing Home Skin Care Clinic Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,983

Businesses Nearby

Under-served

Demand for This Use

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 Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Similar Off Market Nearby

• Williamsburg Animal Clinic — 760 Grant Ave, Brooklyn, NY 11208
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Frequently Asked Questions

What type of property is this?

Medical Office Space - Both suites are occupied by medical tenants under NN leases.

Where is this medical office space located?

The property is located at 105-09 Jamaica Avenue Richmond Hill, NY.

What is the asking price?

The asking price for this property is $2,150,000.

What are key features of this property?

This property features: Two commercial units occupied by medical tenants; NN leases in place; R6A zoning