Three-Story Mixed-Use
For Sale
$1,329,000
10515 Jamaica Avenue, Richmond Hill, NY 11418
Renovated interiors pair a ground-floor storefront with two three-bedroom apartments and a finished basement recreation area.
Property Size4,180 SF
Price / SF$317.94
Days on Market53
Property Features for 10515 Jamaica Avenue
General Information
Standard status
Active
Size
4,180 SF
Property subtype
Commercial
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$2,350
Mixed-Use Components
retail, residential
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,481
Amenities
backyard
finished basement recreation room
Building Details
Building Size
4,180 SF
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Lucid Real Estate LLC
(718) 846-0300
Listed By:
Lucio A. Jovel GRI
(917) 771-7687
Source:
Croninreale
Added: Sep 1
Changed: Oct 23
Last Checked: Oct 23 at 3:37PM
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 Lucid Real Estate LLC
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Investment Insights
Based on property information with market context.
At 10515 Jamaica Avenue, this renovated mixed-use property spans three stories and 4,180 square feet. The ground floor contains a leased barbershop with access to a large cemented backyard. Two residential units occupy the upper floors, each with three bedrooms, two bathrooms, a living room, dining room, and kitchen. A finished basement provides a recreation room, an enclosed boiler room, and a separate entrance at the front of the building.
The second-floor apartment is rented without a lease in place, while the third-floor apartment has seven months remaining on its lease. The residential tenants pay all utilities for the second-floor unit.
The second-floor apartment is rented without a lease in place, while the third-floor apartment has seven months remaining on its lease. The residential tenants pay all utilities for the second-floor unit.
Key Highlights
- 4,180‑square‑foot mixed‑use property on Jamaica Avenue
- Three stories with a ground‑floor barbershop and two residential apartments
- Each apartment has 3 bedrooms, 2 bathrooms, a living room, dining room, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,178
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,043,560
$2.0M
Cap Rate 7%
$1,459,686
$1.5M
Cap Rate 9%
$1,135,311
$1.1M
Market Conditions
NOI Build-Up for 4,180 SF
Gross rent
$193.1K $46.20/SF
− Vacancy
−$7.3K −$1.76/SF
EGI
$185.8K $44.44/SF
− OpEx
−$83.6K −$20.00/SF
NOI
$102.2K $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%
$2,043,560
Cap Rate 7%
$1,459,686
Cap Rate 9%
$1,135,311
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,178 @ 7.0% cap · market cap 7.69%
Second Best
Retail
$1.07M
$932.7K – $1.24M
NOI $74,613 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,708 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,861
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 - Renovated interiors pair a ground-floor storefront with two three-bedroom apartments and a finished basement recreation area.
Where is this mixed-use property located?
The property is located at 10515 Jamaica Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,329,000.
What are key features of this property?
This property features: 4,180‑square‑foot mixed‑use property on Jamaica Avenue; Three stories with a ground‑floor barbershop and two residential apartments; Each apartment has 3 bedrooms, 2 bathrooms, a living room, dining room, and kitchen
