Brick Mixed-Use
For Sale
$1,328,000
12615 JAMAICA AVE, Jamaica, NY 11418
Fully rented brick mixed-use building with a high-visibility storefront and two 2BR/1BA residences.
Property Size1,670 SF
Price / SF$795.21
Days on Market211
Property Features for 12615 JAMAICA AVE
General Information
Standard status
Active
Size
1,670 SF
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Cap Rate
5.5%
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,933
Amenities
Window/Wall Unit
3
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Junbing Ye
(347) 272-8002
Source:
Xome
Added: Feb 6
Changed: Sep 1
Last Checked: Sep 5 at 5:46AM
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 B Square Realty
Investment Insights
Based on property information with market context.
This fully rented, well-maintained brick mixed-use building includes a high-visibility storefront plus two residential units. Each apartment offers 2 bedrooms and 1 bathroom. The property was renovated and updated approximately 6 years ago, including new windows, electrical work, and a heating system.
Located at 12615 Jamaica Ave in Jamaica, NY 11418, the building sits in a high-density area with both foot and vehicle traffic. Tenants also benefit from separated meters for both gas and electric.
With long-term tenants already in place, the building is positioned as a stabilized income property with immediate rental income from day one.
Located at 12615 Jamaica Ave in Jamaica, NY 11418, the building sits in a high-density area with both foot and vehicle traffic. Tenants also benefit from separated meters for both gas and electric.
With long-term tenants already in place, the building is positioned as a stabilized income property with immediate rental income from day one.
Key Highlights
- Fully rented brick mixed‑use building with a high‑visibility storefront and two residential units
- Two residential units include 2 bedrooms and 1 bathroom each
- Renovations completed about 6 years ago with new windows, electrical, and heating system
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
$40,822
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
3.07%
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%
$816,440
$816.4K
Cap Rate 7%
$583,171
$583.2K
Cap Rate 9%
$453,578
$453.6K
Market Conditions
NOI Build-Up for 1,670 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
$77.2K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$74.2K $44.44/SF
− OpEx
−$33.4K −$20.00/SF
NOI
$40.8K $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%
$816,440
Cap Rate 7%
$583,171
Cap Rate 9%
$453,578
Alternative Uses
Best Use
Apartment 5plus
$583.2K
$510.3K – $680.4K
NOI $40,822 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$425.8K
$372.6K – $496.8K
NOI $29,809 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,180 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,632
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully rented brick mixed-use building with a high-visibility storefront and two 2BR/1BA residences.
Where is this mixed-use property located?
The property is located at 12615 JAMAICA AVE Jamaica, NY.
What is the asking price?
The asking price for this property is $1,328,000.
What are key features of this property?
This property features: Fully rented brick mixed‑use building with a high‑visibility storefront and two residential units; Two residential units include 2 bedrooms and 1 bathroom each; Renovations completed about 6 years ago with new windows, electrical, and heating system
