Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    145-61 222Nd St Jamaica, NY 11413

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $579,000

    Multifamily property in Springfield Gardens with rental potential.

    Property size:
    1,415 SF

    Property Features for 145-61 222Nd St

    General Information

    Size
    1,415 SF

    We can help!

    Listing Contact
    Source: Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Springfield Gardens Multifamily Property

    Located in Springfield Gardens, this property features two units. The first floor unit includes three bedrooms and one bathroom. The second floor unit offers two bedrooms and one bathroom. The property also includes a private backyard and a full basement. The home requires some improvements but is located in a prime location for a rental property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.747918
    Latitude
    40.734424

    Nearby Similar for Sale

    • $749,000
      1,000 SF

      Retail Property in Jamaica, Queens

      Prime retail space with high visibility in a thriving commercial corridor.
      14703 Guy R Brewer Blvd, Jamaica, NY 11434
      View Details
    • $1,480,000
      0.06 Acres

      Mixed-Use Building on Jamaica Avenue

      Income-producing mixed-use building in prime Queens location.
      11310 Jamaica Ave, Richmond Hill, NY 11418
      View Details
    • $3,699,000
      4,690 SF

      Renovated Automotive Warehouse with Parking

      Renovated mixed-use building with parking in excellent location.
      205-02 Jamaica Ave, Hollis, NY 11423
      View Details
    • $1,999,888
      0.06 Acres

      Ozone Park Mixed-Use Investment

      Income-producing property with storefront and residential units in Ozone Park.
      9206 95Th Ave, Ozone Park, NY 11416
      View Details
    • $174,999
      0.04 Acres

      Established Laundromat on Guy R Brewer

      Profitable laundromat business for sale in a high-traffic Jamaica location.
      11821 Guy R Brewer Blvd, Jamaica, NY 11434
      View Details
    • New
      $999,000
      0.06 Acres

      Two-Family Home, Springfield Gardens

      Newly built two-family home with rental potential in Springfield Gardens.
      14027 Coombs St, Springfield Gardens, NY 11413
      View Details
    • New
      $1,379,000
      3,000 SF

      Renovated Two-Family Home in Rosedale

      Meticulously renovated two-family home with income potential in Rosedale, NY.
      24149 148Th Dr, Rosedale, NY 11422
      View Details
    • $80,000

      Woodhaven Retail Spa For Sale

      Retail spa for sale in high-traffic Woodhaven area.
      89-19 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $999,000
      0.06 Acres

      Jamaica, NY Multi-Family Dwelling

      Fully renovated brick dwelling near schools, parks, and transportation.
      177-50 106Th Ave, Jamaica, NY 11433
      View Details
    • $975,000
      0.04 Acres

      Retail Storefront on Guy R Brewer

      Prime retail opportunity in South Jamaica, Queens on busy corridor.
      118-27 Guy R Brewer Blvd, Jamaica, NY 11434
      View Details
    • $225,000

      Established Auto Workshop in Ozone Park

      Well-established auto workshop with a renewable lease in Ozone Park.
      103 101St St, Ozone Park, NY 11417
      View Details
    • $1,280,000
      Pending

      Mixed-Use Property in Jamaica Hills

      Two-family home with storefront in Jamaica Hills, renovated and transit-accessible.
      16015 Hillside Ave, Jamaica, NY 11432
      View Details

    FAQs

    What type of property is this?
    Duplex - Multifamily property in Springfield Gardens with rental potential.
    Where is this duplex located?
    The property is located at 145-61 222Nd St Jamaica, NY.
    What is the asking price?
    The asking price for this property is $579,000.
    What are key features of this property?
    This property features: - Two separate units (3 bed/1 bath and 2 bed/1 bath) offer rental income potential.; - Prime location suitable for a rental property.; - Private backyard.
    Request Owner's contact information
    145-61 222Nd St Jamaica, NY 11413
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    145-61 222Nd St
    Jamaica, NY 11413
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    145-61 222Nd St Jamaica, NY 11413
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!