Two-Story Mixed-Use
For Sale
$1,379,000
11221 Jamaica Avenue, Richmond Hill, NY 11418
Income-producing building with commercial activity, restaurants, retail, and transit access along Jamaica Avenue.
Property Size4,000 SF
Lot Size0.05 Acres
Days on Market116
Property Features for 11221 Jamaica Avenue
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Zoning
R6A
Additional Details
Cap Rate
9.14%
Taxes and HOA fees
Annual Taxes
$15,430
Building Details
Building Size
4,000 SF
Year Built
1931
Buildings
1
Stories
2
Listing Agency:
Signature Premier Properties
(917) 306-5408
Listed By:
Mohammed A. Ohid
Source:
Serhant
Added: May 7
Changed: Aug 29
Last Checked: Aug 29 at 11:10AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This two-story mixed-use property at 11221 Jamaica Avenue includes approximately 2,100 to 2,161 square feet of usable interior space on each floor. The building dates to 1931 and has established income-producing setups, with an indicated CAP Rate of 9.14%. The 0.0496-acre site is zoned R6A.
Located in Richmond Hill, Queens, the property fronts Jamaica Avenue within a corridor characterized by restaurants, retail stores, transit access, and ongoing commercial activity. The combination of two-level space, existing income-producing arrangements, and a mixed-use setting supports a range of commercial and mixed-use property considerations.
Located in Richmond Hill, Queens, the property fronts Jamaica Avenue within a corridor characterized by restaurants, retail stores, transit access, and ongoing commercial activity. The combination of two-level space, existing income-producing arrangements, and a mixed-use setting supports a range of commercial and mixed-use property considerations.
Key Highlights
- Approximately 2,100 to 2,161 square feet of usable interior space on each floor
- 9.14% CAP Rate
- 0.0496‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,400
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,428,000
$1.4M
Cap Rate 7%
$1,020,000
$1.0M
Cap Rate 9%
$793,333
$793.3K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$120.0K $30.00/SF
− Vacancy
−$18.0K −$4.50/SF
EGI
$102.0K $25.50/SF
− OpEx
−$30.6K −$7.65/SF
NOI
$71.4K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,428,000
Cap Rate 7%
$1,020,000
Cap Rate 9%
$793,333
Alternative Uses
Best Use
Retail
$1.02M
$892.5K – $1.19M
NOI $71,400 @ 7.0% cap · market cap 5.18%
Second Best
Mixed Use
$735.4K
$643.5K – $858.0K
NOI $51,480 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,883
Businesses Nearby
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing building with commercial activity, restaurants, retail, and transit access along Jamaica Avenue.
Where is this mixed-use property located?
The property is located at 11221 Jamaica Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,379,000.
What are key features of this property?
This property features: Approximately 2,100 to 2,161 square feet of usable interior space on each floor; 9.14% CAP Rate; 0.0496‑acre lot
