Duplex Development
For Sale
Contact for pricing
15016 Hillside Ave, Jamaica, NY 11432
Vacant duplex development site zoned C4-4D/equivalent to R8A with an existing two-family certificate of occupancy and store/office space.
Property Size2,920 SF
Price / SF$839.04
Days on Market52
Property Features for 15016 Hillside Ave
General Information
Standard status
Active
Size
2,920 SF
Property subtype
OFFICE
Zoning
C4-4D
Building Details
Owner Occupied
No
Listing Agency:
Century 21 Commercial Milestone Realty | Jamaica
(718) 291-7000
Listed By:
Anand Mahadeo
(646) 261-1404
Source:
Moodyscre
Added: Jul 24
Changed: Sep 8
Last Checked: Sep 12 at 11:20AM
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 Century 21 Commercial Milestone Realty | Jamaica
Investment Insights
Based on property information with market context.
Duplex development site located at 15016 Hillside Ave, Jamaica, NY 11432. The property is currently vacant and is being sold as is.
The property is described as a current C of O for a two-family use with 1 store/office. Zoning is listed as C4-4D/equivalent to R8A.
With its current configuration and zoning basis, this offering can be evaluated for development and re-use opportunities consistent with the stated approvals and existing certificate of occupancy details.
The property is described as a current C of O for a two-family use with 1 store/office. Zoning is listed as C4-4D/equivalent to R8A.
With its current configuration and zoning basis, this offering can be evaluated for development and re-use opportunities consistent with the stated approvals and existing certificate of occupancy details.
Key Highlights
- 2,920 SF duplex development site
- Zoned C4‑4D/equivalent to R8A
- Current C of O for two‑family with 1 store/office
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
$71,378
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
2.91%
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%
$1,427,560
$1.4M
Cap Rate 7%
$1,019,686
$1.0M
Cap Rate 9%
$793,089
$793.1K
Market Conditions
NOI Build-Up for 2,920 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
$134.9K $46.20/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$129.8K $44.44/SF
− OpEx
−$58.4K −$20.00/SF
NOI
$71.4K $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%
$1,427,560
Cap Rate 7%
$1,019,686
Cap Rate 9%
$793,089
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$892.2K – $1.19M
NOI $71,378 @ 7.0% cap · market cap 2.91%
Second Best
Multifamily LT 5
$690.4K
$604.1K – $805.5K
NOI $48,331 @ 7.0% cap · market cap 1.97%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,686 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
Check the figures for this property
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?
Duplex - Vacant duplex development site zoned C4-4D/equivalent to R8A with an existing two-family certificate of occupancy and store/office space.
Where is this duplex located?
The property is located at 15016 Hillside Ave Jamaica, NY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 2,920 SF duplex development site; Zoned C4‑4D/equivalent to R8A; Current C of O for two‑family with 1 store/office
