Building Details

Building Size 2,000 SF

Units 3

Listed By: Gail Leone Show Phone

Source: Clairedleone

Added: Jul 22 Changed: Oct 23 Last Checked: Oct 23 at 6:12PM

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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 Gail Leone

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Investment Insights

Based on property information with market context.

This mixed-use property combines a ground-floor storefront with two apartments. The storefront has been renovated and is vacant. Also on the first floor, a two-bedroom apartment has its own entrance. The second-floor residence offers three bedrooms, a separate entrance, granite countertops, hardwood floors, and high ceilings; it is renovated and vacant.

The two-bedroom apartment is occupied by a tenant. The building contains approximately 2,000 square feet and is located at 105-14 177th Street in Jamaica South, New York.

Key Highlights

• Three‑unit configuration: one storefront and two apartments
• Renovated vacant storefront on the first floor
• Separate‑entry, two‑bedroom apartment on the first floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,889

Cap Rate

4.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$977,780 $977.8K

Cap Rate 7%

$698,414 $698.4K

Cap Rate 9%

$543,211 $543.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$92.4K $46.20/SF

− Vacancy

−$3.5K −$1.76/SF

EGI

$88.9K $44.44/SF

− OpEx

−$40.0K −$20.00/SF

NOI

$48.9K $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%

$977,780

Cap Rate 7%

$698,414

Cap Rate 9%

$543,211

Alternative Uses

Best Use

Apartment 5plus

$698.4K

$611.1K – $814.8K (±1% cap)

NOI $48,889 @ 7.0% cap · market cap 4.44%

Second Best

Retail

$510.0K

$446.3K – $595.0K (±1% cap)

NOI $35,700 @ 7.0% cap · market cap 3.25%

Theoretical Best

Office A

$1.47M

$1.29M – $1.72M (±1% cap)

NOI $103,210 @ 7.0% cap · market cap 9.38%

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

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center Acupuncture Kitchen & Bath Showroom Veterinary Clinic

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

Residential units

Location Intelligence

Trade Area within ½ mile

3,915

Businesses Nearby

Explore this area Business Placement

Demographics for 11433, NY

39,071

Population

11,849

Households

3.3

Avg Household Size

37

Median Age

19%

College-Educated

77%

High-School Grad

1.5 sq mi

ZIP Area

26,047

Density / Sq Mi

$71,177

Median Household Income

$39,540

Median Earnings

$1,529

Median Rent

$625,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two separate-entry apartments accompany a renovated ground-floor retail space.

Where is this mixed-use property located?

The property is located at 105-14 177th Street Jamaica, NY.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Three‑unit configuration: one storefront and two apartments; Renovated vacant storefront on the first floor; Separate‑entry, two‑bedroom apartment on the first floor