Corner Mixed-Use
For Sale
$1,450,000
15045 LINDEN BLVD, Jamaica, NY 11434
Corner mixed-use building with separate meters, high ceilings, a basement, and six parking spaces.
Property Size3,600 SF
Price / SF$402.78
Days on Market191
Property Features for 15045 LINDEN BLVD
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Zoning
R5B/R3X/C2-3
Additional Details
Cap Rate
8.92%
Clear Height
10 ft
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$18,855
Amenities
Central Air
3
Building Details
Year Built
1931
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Xome
Added: Feb 26
Changed: Sep 4
Last Checked: Sep 4 at 4:12AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This corner mixed-use building offers a retail store plus four residential units. Improvements and systems called out in the listing include all-new LED lighting and central air conditioning, high 10’ ceilings, a basement, separate meters, and 200 amp power service, along with six parking spaces. The property includes a store component and apartments with existing income streams and lease expirations noted for each unit.
The building has 21’ of frontage on Linden Blvd. and 117’ of frontage on 172nd St. The listing states it is in the heart of Jamaica, one block from Merrick Blvd., and minutes from the St. Albans LIRR station. Nearby established retailers and services listed include Chase Bank, Citizens Bank, The Home Depot, Stop & Shop, Crunch Fitness, AutoZone, Mobil, Conoco, McDonald’s, Domino’s Pizza, Papa John’s, IHOP, Liberty Tax, and Aldi.
Zoning is listed as R5B/R3X/C2-3. The offering is presented with a pro forma gross income of $160,700 and expenses totaling $26,965.32, resulting in a pro forma NOI of $133,734.68 (pro forma 8.92 cap as stated in the listing).
The building has 21’ of frontage on Linden Blvd. and 117’ of frontage on 172nd St. The listing states it is in the heart of Jamaica, one block from Merrick Blvd., and minutes from the St. Albans LIRR station. Nearby established retailers and services listed include Chase Bank, Citizens Bank, The Home Depot, Stop & Shop, Crunch Fitness, AutoZone, Mobil, Conoco, McDonald’s, Domino’s Pizza, Papa John’s, IHOP, Liberty Tax, and Aldi.
Zoning is listed as R5B/R3X/C2-3. The offering is presented with a pro forma gross income of $160,700 and expenses totaling $26,965.32, resulting in a pro forma NOI of $133,734.68 (pro forma 8.92 cap as stated in the listing).
Key Highlights
- Corner 5‑unit mixed‑use building on Linden Blvd with 21 ft frontage on Linden Blvd and 117 ft frontage on 172nd St
- 8.92 cap (pro forma) with pro forma gross income $160,700 and NOI $133,734.68; total expenses $26,965.32
- Income includes 2,400 SF store at $51,600/yr (lease exp. 9/1/28, 5‑year option) plus four apartments with annual rents listed
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
$88,000
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
6.07%
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%
$1,760,000
$1.8M
Cap Rate 7%
$1,257,143
$1.3M
Cap Rate 9%
$977,778
$977.8K
Market Conditions
NOI Build-Up for 3,600 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
$166.3K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$160.0K $44.44/SF
− OpEx
−$72.0K −$20.00/SF
NOI
$88.0K $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%
$1,760,000
Cap Rate 7%
$1,257,143
Cap Rate 9%
$977,778
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 6.07%
Second Best
Retail
$918.0K
$803.3K – $1.07M
NOI $64,260 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,471
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner mixed-use building with separate meters, high ceilings, a basement, and six parking spaces.
Where is this mixed-use property located?
The property is located at 15045 LINDEN BLVD Jamaica, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Corner 5‑unit mixed‑use building on Linden Blvd with 21 ft frontage on Linden Blvd and 117 ft frontage on 172nd St; 8.92 cap (pro forma) with pro forma gross income $160,700 and NOI $133,734.68; total expenses $26,965.32; Income includes 2,400 SF store at $51,600/yr (lease exp. 9/1/28, 5‑year option) plus four apartments with annual rents listed
