Corner Mixed-Use
New
For Sale
Contact for pricing
162-21 Jamaica Avenue, Jamaica, NY 11432
Multi-unit commercial space occupies a prominent corner near subway service and established national retailers.
Property Size48,000 SF
Lot Size0.42 Acres
Price / SF$364.58
Days on Market4
Property Features for 162-21 Jamaica Avenue
General Information
Standard status
Active
Size
48,000 SF
Lot size
0.42 Acres
Property subtype
Retail, Office
Zoning
C6-3 / R9 equivalent
Additional Details
Asking Price
$17,500,000
Corner Location
Yes
Building Details
Tenancy
Multi
Listing Agency:
Kassin Sabbagh Realty
Listed By:
Solomon Sharaby · License #10401283106
(718) 986-7149
Source:
Crexi
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 10 at 6:28AM
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 Kassin Sabbagh Realty
Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 48,000 SF of multi-unit commercial space on an approximately 18,300 SF lot. The corner configuration provides approximately 91 feet of frontage on Jamaica Avenue and 210 feet along 163rd Street, with exposure to both thoroughfares. Existing zoning is identified as C6-3 / R9 equivalent and C4-4D / R8A equivalent, with an FAR of 4.33 and approximately 136,884 SF of zoning floor area.
Located at 162-21 Jamaica Avenue in Jamaica, NY, the property is steps from the J and Z subway lines. Surrounding national retailers include Target, Primark, Marshalls, ALDI, Chipotle, Foot Locker, T-Mobile, and Verizon. The asset sits within Downtown Jamaica's commercial corridor and combines substantial building area with a highly visible corner position.
Located at 162-21 Jamaica Avenue in Jamaica, NY, the property is steps from the J and Z subway lines. Surrounding national retailers include Target, Primark, Marshalls, ALDI, Chipotle, Foot Locker, T-Mobile, and Verizon. The asset sits within Downtown Jamaica's commercial corridor and combines substantial building area with a highly visible corner position.
Key Highlights
- Approximately 48,000 SF multi‑unit commercial property
- Approximately 18,300 SF corner lot
- Approximately 91 feet of Jamaica Avenue frontage and 210 feet along 163rd Street
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
$856,800
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
4.90%
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%
$17,136,000
$17.1M
Cap Rate 7%
$12,240,000
$12.2M
Cap Rate 9%
$9,520,000
$9.5M
Market Conditions
NOI Build-Up for 48,000 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
$1.44M $30.00/SF
− Vacancy
−$216.0K −$4.50/SF
EGI
$1.22M $25.50/SF
− OpEx
−$367.2K −$7.65/SF
NOI
$856.8K $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%
$17,136,000
Cap Rate 7%
$12,240,000
Cap Rate 9%
$9,520,000
Alternative Uses
Best Use
Retail
$12.24M
$10.71M – $14.28M
NOI $856,800 @ 7.0% cap · market cap 4.90%
Second Best
Mixed Use
$8.83M
$7.72M – $10.30M
NOI $617,760 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$35.39M
$30.96M – $41.28M
NOI $2,477,030 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
46k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 75%
Shops & Services 14%
Dining 11%
C-Town Supermarkets
Groceries
19,248 visits/mo
0.1 miles
Western Beef
Groceries
15,102 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,867 visits/mo
0.3 miles
Domino's Pizza
Dining
2,852 visits/mo
0.2 miles
Little Caesars Pizza
Dining
2,186 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-unit commercial space occupies a prominent corner near subway service and established national retailers.
Where is this mixed-use property located?
The property is located at 162-21 Jamaica Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $17,500,000.
What are key features of this property?
This property features: Approximately 48,000 SF multi‑unit commercial property; Approximately 18,300 SF corner lot; Approximately 91 feet of Jamaica Avenue frontage and 210 feet along 163rd Street
