16-Unit Mixed-Use
For Sale
$11,000,000
172-18 Jamaica Avenue, Jamaica, NY 11432
An elevator-served property combines residential units, commercial space, a finished basement, and on-site parking.
Property Size36,800 SF
Price / SF$298.91
Days on Market149
Property Features for 172-18 Jamaica Avenue
General Information
Standard status
Active
Size
36,800 SF
Total Parking Spaces
11
Elevators
Yes
Property subtype
Commercial
Zoning
C-24R6A
Site & Location
Public Transit
Yes
Mixed-Use Components
commercial, residential
Additional Details
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$30,341
Amenities
finished basement
elevator
Building Details
Building Size
36,800 SF
Year Built
2020
Buildings
1
Stories
6
Units
17
Tenancy
Multi
Listing Agency:
Compass Greater NY LLC
(516) 703-3378
Listed By:
Sarah Kim · License #10301216872
(718) 813-4835
Source:
Croninreale
Added: May 29
Changed: Oct 23
Last Checked: Oct 23 at 4:58PM
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 Compass Greater NY LLC
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Investment Insights
Based on property information with market context.
At 172-18 Jamaica Avenue, this six-story condominium property contains 16 residential units, commercial space, a finished basement, and an elevator. The offering includes 11 on-site parking spaces and represents the majority of the building’s inventory, with majority control of the condominium board. The building dates to 2020 and is zoned C-24R6A.
The property is in Downtown Jamaica, Queens. The 179 St and 169 St F train stations are about 10 minutes and 9 minutes away, respectively. Jamaica Center, served by the E, J, and Z trains, is 1.1 miles away. Jamaica LIRR Station and the AirTrain JFK connection at Sutphin Boulevard are also identified as nearby transit options.
The property is in Downtown Jamaica, Queens. The 179 St and 169 St F train stations are about 10 minutes and 9 minutes away, respectively. Jamaica Center, served by the E, J, and Z trains, is 1.1 miles away. Jamaica LIRR Station and the AirTrain JFK connection at Sutphin Boulevard are also identified as nearby transit options.
Key Highlights
- 16 residential units with commercial space
- Six‑story condominium building with elevator and finished basement
- 11 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$899,555
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,991,100
$18.0M
Cap Rate 7%
$12,850,786
$12.9M
Cap Rate 9%
$9,995,056
$10.0M
Market Conditions
NOI Build-Up for 36,800 SF
Gross rent
$1.70M $46.20/SF
− Vacancy
−$64.6K −$1.76/SF
EGI
$1.64M $44.44/SF
− OpEx
−$736.0K −$20.00/SF
NOI
$899.6K $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 Rate 5%
$17,991,100
Cap Rate 7%
$12,850,786
Cap Rate 9%
$9,995,056
Alternative Uses
Best Use
Apartment 5plus
$12.85M
$11.24M – $14.99M
NOI $899,555 @ 7.0% cap · market cap 8.18%
Second Best
Retail
$9.38M
$8.21M – $10.95M
NOI $656,880 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$27.13M
$23.74M – $31.65M
NOI $1,899,057 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
16
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,983
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - An elevator-served property combines residential units, commercial space, a finished basement, and on-site parking.
Where is this mixed-use property located?
The property is located at 172-18 Jamaica Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: 16 residential units with commercial space; Six‑story condominium building with elevator and finished basement; 11 on‑site parking spaces
