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    Corner Development Land Title is generated by Realmo AI

    109-15 Sutphin Boulevard, Jamaica, NY 11435

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    Claim this Listing
    New
    For Sale
    $1,795,000

    Vacant Land - jamacia, NY

    Lot size:
    0.14 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 12:06 am

    Property Features for 109-15 Sutphin Boulevard

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Alexandre Goulet

    Listing agent Alexandre Goulet

    Listing office Landair Property Advisors, LLC 224 W 30th Street, New York, NY

    Listing date Jun 5, 2026

    MLS# 11801993 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 6,282 SF corner lot with 60' x 105' dimensions on Sutphin Boulevard, delivered completely vacant
    • Split zoning: R5D, C2‑3, and R4‑1, supporting a maximum usable floor area of 12,564 buildable SF
    • Allows for a 100% market‑rate residential or mixed‑use project with no affordable housing restrictions
    • Under the Dwelling Unit Factor for R5D of 680, maximum allowable density is 18 buildable units
    • Residential parking requirements waived under the City of Yes initiative

    Overview

    109-15 Sutphin Boulevard presents a completely vacant corner development site measuring approximately 60' by 105'. The offering is a 6,282 SF lot delivered as a blank slate with no demolition required prior to redevelopment. The property is supported by a split zoning designation of R5D, C2-3, and R4-1, providing a pathway to develop within the applicable zoning parameters.

    The site is positioned in Queens, Jamaica, and is configured for redevelopment as a corner parcel. The zoning framework supports a maximum usable floor area of 12,564 buildable square feet (BSF). Density guidance provided with the property indicates the Dwelling Unit Factor for R5D of 680, yielding an estimated maximum of 18 buildable units.

    For developers evaluating residential or mixed-use concepts, the split zoning on this vacant parcel is presented as allowing a 100% market-rate residential or mixed-use project without affordable housing restrictions. Residential parking requirements are noted as waived under the City of Yes initiative, which may simplify planning and improve usable space relative to typical parking-driven site constraints.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.797418
    Latitude
    40.691271

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    FAQs

    What type of property is this?
    Commercial land - Vacant corner lot with flexible split zoning for residential or mixed-use development planning in Queens.
    Where is this commercial land located?
    The property is located at 109-15 Sutphin Boulevard Jamaica, NY.
    What is the asking price?
    The asking price for this property is $1,795,000.
    What are key features of this property?
    This property features: 6,282 SF corner lot with 60' x 105' dimensions on Sutphin Boulevard, delivered completely vacant; Split zoning: R5D, C2‑3, and R4‑1, supporting a maximum usable floor area of 12,564 buildable SF; Allows for a 100% market‑rate residential or mixed‑use project with no affordable housing restrictions
    (212) 920-7658
    We can help!
    Listing Contact
    Alexandre Goulet
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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