Renovated Mixed-Use
New
For Sale
$1,500,000
125-16 Jamaica Ave, Richmond Hill, NY 11418
Residential Income, Richmond Hill, NY
Property Size4,000 SF
Lot Size0.04 Acres
Price / SF$375
Days on Market2
Property Features for 125-16 Jamaica Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Mixed Use
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2
Subdivision
Jamaica
Standard status
Active
Size
4,000 SF
Lot size
0.04 Acres
Utilities
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Building materials
Brick
Listing Agency:
LOCKBOX REALTY
(718) 576-3041
Listed By:
Alyssa Martin
(718) 753-3370
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 12:06PM
MLS# 11974058
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.
Investment Insights
Based on property information with market context.
This 4,000-square-foot, three-story brick mixed-use property includes a ground-floor commercial storefront occupied by a barber shop, two full-floor residential apartments, and a built-out third one-bedroom unit. The building is reported as 100% occupied, and all units have been renovated. Major capital work includes a new roof, new water heater, and upgraded electrical throughout. Gas and electric service are separately metered for all units.
Located at 125-16 Jamaica Avenue in Richmond Hill, the property fronts an active commercial corridor and is approximately one block from the 121st Street subway station, served by the J and Z lines. Multiple bus routes operate along Jamaica Avenue. The property is zoned R6A / C2-4, occupies 0.0422 acres, and was built in 1920.
Located at 125-16 Jamaica Avenue in Richmond Hill, the property fronts an active commercial corridor and is approximately one block from the 121st Street subway station, served by the J and Z lines. Multiple bus routes operate along Jamaica Avenue. The property is zoned R6A / C2-4, occupies 0.0422 acres, and was built in 1920.
Key Highlights
- 4,000‑square‑foot mixed‑use building with commercial and residential components
- 100% occupied, including a ground‑floor barber shop storefront
- Two full‑floor apartments plus a built‑out third one‑bedroom unit
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
$97,778
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
6.52%
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%
$1,955,560
$2.0M
Cap Rate 7%
$1,396,829
$1.4M
Cap Rate 9%
$1,086,422
$1.1M
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
$184.8K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$177.8K $44.44/SF
− OpEx
−$80.0K −$20.00/SF
NOI
$97.8K $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 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%
$1,955,560
Cap Rate 7%
$1,396,829
Cap Rate 9%
$1,086,422
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,778 @ 7.0% cap · market cap 6.52%
Second Best
Retail
$1.02M
$892.5K – $1.19M
NOI $71,400 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,651
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story brick construction combines a commercial storefront with residential apartments and a built-out one-bedroom unit.
Where is this mixed-use property located?
The property is located at 125-16 Jamaica Ave Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,000‑square‑foot mixed‑use building with commercial and residential components; 100% occupied, including a ground‑floor barber shop storefront; Two full‑floor apartments plus a built‑out third one‑bedroom unit
