One-Story Retail Strip
For Sale
Contact for pricing
127-01 Merrick Blvd, Jamaica, NY 11434
Neighborhood-oriented retail property with multiple storefronts and commercial-overlay zoning.
Property Size13,466 SF
Lot Size0.35 Acres
Price / SF$527.25
Days on Market138
Property Features for 127-01 Merrick Blvd
General Information
Standard status
Active
Size
13,466 SF
Lot size
0.35 Acres
Property subtype
Retail
Zoning
R5D with a C1-3 commercial overlay
Occupancy
91%
Lease Type
NN
Investment Type
Stabilized
Net Operating Income
$451,271
Building Details
Year Built
1937
Buildings
1
Stories
1
Units
11
Tenancy
Multi
Listing Agency:
East Coast New York Inc.
(917) 974-0992
Listed By:
Eric Li · License #10301218578
Source:
Crexi
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 29 at 6:25PM
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 East Coast New York Inc.
Investment Insights
Based on property information with market context.
This one-story strip center contains 11 storefront units within a 13,466-square-foot retail building. The improvements date to 1937 and occupy a 15,400-square-foot lot with approximately 200 feet of frontage. Zoning is R5D with a C1-3 commercial overlay, supporting neighborhood retail use.
The property is positioned along Merrick Boulevard in Southeast Queens, with the corridor serving surrounding neighborhood activity. Its storefront configuration and substantial street exposure define the asset’s commercial profile.
The property is positioned along Merrick Boulevard in Southeast Queens, with the corridor serving surrounding neighborhood activity. Its storefront configuration and substantial street exposure define the asset’s commercial profile.
Key Highlights
- 11 storefront units in a one‑story retail strip center
- 13,466 SF building on a 15,400 SF lot
- Approximately 200 feet of frontage along Merrick Boulevard
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
$240,368
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
3.39%
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%
$4,807,360
$4.8M
Cap Rate 7%
$3,433,829
$3.4M
Cap Rate 9%
$2,670,756
$2.7M
Market Conditions
NOI Build-Up for 13,466 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
$404.0K $30.00/SF
− Vacancy
−$60.6K −$4.50/SF
EGI
$343.4K $25.50/SF
− OpEx
−$103.0K −$7.65/SF
NOI
$240.4K $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%
$4,807,360
Cap Rate 7%
$3,433,829
Cap Rate 9%
$2,670,756
Alternative Uses
Best Use
Retail
$3.43M
$3.00M – $4.01M
NOI $240,368 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.93M
$8.69M – $11.58M
NOI $694,910 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 11434, NY
66,964
Population
23,787
Households
2.8
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
3.2 sq mi
ZIP Area
20,926
Density / Sq Mi
$76,668
Median Household Income
$46,742
Median Earnings
$1,409
Median Rent
$585,600
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?
Strip mall - Neighborhood-oriented retail property with multiple storefronts and commercial-overlay zoning.
Where is this strip mall located?
The property is located at 127-01 Merrick Blvd Jamaica, NY.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: 11 storefront units in a one‑story retail strip center; 13,466 SF building on a 15,400 SF lot; Approximately 200 feet of frontage along Merrick Boulevard
