Three-Unit Mixed-Use Property with
8505 Jamaica Ave, Woodhaven, NY 11421
For Sale
$1,480,000
The property combines street-level commercial space with two apartments and access to the J/Z subway at 85th Street–Forest Parkway.
Property Size2,000 SF
Price / SF$740
Days on Market124
Property Features for 8505 Jamaica Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Public Transit
Mixed-Use Components
Additional Details
Floor
Multifamily Units
Building Details
Year Built
Buildings
Stories
Listing Agency:
EXP COMMERCIAL LLC
(855) 452-0344
Listed By:
Jiangwei Zhou · License #10301222821
(646) 812-2151
Source:
Gatewaypropertiesofupstateny
Added: Jul 9
Changed: Nov 8
Last Checked: Nov 8 at 8:21PM
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 EXP COMMERCIAL LLC
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Investment Insights
Based on property information with market context.
A 1931 mixed-use building on Jamaica Avenue contains three units: a commercial space at street level and two apartments above. The storefront measures approximately 2,000 square feet. The property is in an R6A zoning district; any development potential and permitted uses are subject to zoning analysis, property conditions, and required approvals.
The J/Z subway serves the nearby 85th Street–Forest Parkway station. The residential units may be occupied or leased, subject to the owner’s plans and applicable requirements.
The J/Z subway serves the nearby 85th Street–Forest Parkway station. The residential units may be occupied or leased, subject to the owner’s plans and applicable requirements.
Key Highlights
- Three units: a street‑level commercial space and two apartments above
- Approximately 2,000 square feet of commercial space
- Located in an R6A zoning district
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,889
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,780
$977.8K
Cap Rate 7%
$698,414
$698.4K
Cap Rate 9%
$543,211
$543.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$92.4K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.9K $44.44/SF
− OpEx
−$40.0K −$20.00/SF
NOI
$48.9K $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%
$977,780
Cap Rate 7%
$698,414
Cap Rate 9%
$543,211
Alternative Uses
Best Use
Apartment 5plus
$698.4K
$611.1K – $814.8K
NOI $48,889 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$510.0K
$446.3K – $595.0K
NOI $35,700 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 11421, NY
42,586
Population
12,776
Households
3.3
Avg Household Size
38
Median Age
26%
College-Educated
79%
High-School Grad
1.3 sq mi
ZIP Area
32,758
Density / Sq Mi
$89,439
Median Household Income
$40,934
Median Earnings
$1,901
Median Rent
$682,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Queens County, NY
Properties on Market for Mixed-use properties in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines street-level commercial space with two apartments and access to the J/Z subway at 85th Street–Forest Parkway.
Where is this mixed-use property located?
The property is located at 8505 Jamaica Ave Woodhaven, NY.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Three units: a street‑level commercial space and two apartments above; Approximately 2,000 square feet of commercial space; Located in an R6A zoning district
