Building Details

Building Size 2,263 SF

Year Built 1930

Buildings 1

Stories 2

Listing Agency: Century Homes Realty Group LLC c***@gmail.com Show Phone

Listed By: Yi Lin E-PRO PSA SRS GRI Show Phone

Source: Croninreale

Added: Jan 20 Changed: Oct 23 Last Checked: Oct 23 at 9:55AM

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Investment Insights

Based on property information with market context.

This 2,263-square-foot office building, constructed in 1930, has two above-grade floors and a full basement. Its 20-by-70-foot footprint accommodates a first-floor kitchen, two bathrooms, an open work area and a door to the backyard. The upper level contains a second kitchen, three private offices and a conference room; the basement provides storage. The property is in mint condition and may be delivered vacant at closing.

The building is zoned R5D and fronts Rockaway Boulevard in Jamaica. Its existing professional-office configuration includes both private and shared work areas.

Key Highlights

• 2,263‑square‑foot office building on Rockaway Boulevard
• Two stories plus a full basement; 20' x 70' building footprint
• First floor has a kitchen, two bathrooms, open work area and backyard exit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,507

Cap Rate

6.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,490,140 $1.5M

Cap Rate 7%

$1,064,386 $1.1M

Cap Rate 9%

$827,856 $827.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,263 SF

Gross rent

$114.1K $50.40/SF

− Vacancy

−$14.7K −$6.50/SF

EGI

$99.3K $43.90/SF

− OpEx

−$24.8K −$10.97/SF

NOI

$74.5K $32.92/SF

Area

Queens County, NY

Vacancy

12.90%

Lease Rate

$50.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,490,140

Cap Rate 7%

$1,064,386

Cap Rate 9%

$827,856

Alternative Uses

Best Use

Office B

$1.06M

$931.3K – $1.24M (±1% cap)

NOI $74,507 @ 7.0% cap · market cap 6.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.67M

$1.46M – $1.95M (±1% cap)

NOI $116,782 @ 7.0% cap · market cap 10.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Skin Care Clinic Gym & Fitness Center Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,099

Businesses Nearby

Explore this area Business Placement

Demographics for 11436, NY

20,620

Population

6,617

Households

3.1

Avg Household Size

38

Median Age

22%

College-Educated

84%

High-School Grad

0.8 sq mi

ZIP Area

25,775

Density / Sq Mi

$86,104

Median Household Income

$42,386

Median Earnings

$2,079

Median Rent

$602,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Two-story layout combines private offices, a conference room, shared work areas, kitchens and bathrooms.

Where is this office building located?

The property is located at 14610 Rockaway Boulevard Jamaica, NY.

What is the asking price?

The asking price for this property is $1,080,000.

What are key features of this property?

This property features: 2,263‑square‑foot office building on Rockaway Boulevard; Two stories plus a full basement; 20' x 70' building footprint; First floor has a kitchen, two bathrooms, open work area and backyard exit