Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Jamaica, NY Development Opportunity Title is generated by Realmo AI

    88-16 168th Place, Jamaica, NY 11432

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 88-16 168th Place, Jamaica, NY
    For Sale
    $1,689,000

    LAND - Jamaica, NY

    Lot size:
    0.07 Acres
    Added:
    May 4, 2026
    Days on Market:
    19
    Last Refresh:
    May 22 at 6:06 pm

    Property Features for 88-16 168th Place

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    09819-0025
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    3548

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Moniruzzaman R. Majumder CBR

    Listing agent Moniruzzaman R. Majumder CBR

    Listing office Exit Realty Prime 18910 Hillside Ave Ste E, Jamaica, NY

    Listing date May 4, 2026

    MLS# 995021 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approved plan for a 6‑story multi‑family building with 10 dwelling units and a community facility available.
    • R6A Zoning with a FAR of 3 for residential and facility use.
    • 3000 SF cleared vacant lot ready for development.
    • Located within 1 block of Hillside Ave in Jamaica.
    • Walking distance to the F Train.
    • Close proximity to shops, banks, pharmacies, restaurants, groceries, and other community amenities.

    Overview

    This is an excellent development opportunity in Jamaica, NY, located one block from Hillside Avenue. The property features a 3000 square foot cleared vacant lot with R6A zoning. The zoning allows for a residential FAR of 3 and a facility FAR of 3. An approved plan for a 6-story multi-family building with 10 dwelling units and a community facility is available upon request. The location provides walking distance to the F Train, numerous buses, shops, banks, pharmacies, restaurants, groceries, and other community amenities. The lot size is approximately 0.07 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.793484
    Latitude
    40.709148

    Nearby Similar for Sale

    • $749,000
      1,000 SF

      Retail Property in Jamaica, Queens

      Prime retail space with high visibility in a thriving commercial corridor.
      14703 Guy R Brewer Boulevard, Jamaica, NY 11434
      View Details
    • $815,000
      2,640 SF

      Legal Two-Family Home in Jamaica

      Two-family home near JFK Airport and LIRR Jamaica Station.
      157-15 110th Avenue, Jamaica, NY 11433
      View Details
    • $975,000

      Retail Storefront on Guy R Brewer

      Prime retail opportunity in South Jamaica, Queens on busy corridor.
      118-27 Guy R Brewer Boulevard, Jamaica, NY 11434
      View Details
    • $799,000
      3,300 SF

      Jamaica Mixed-Use Development Opportunity

      Mixed-use property with approved plans for seven-family plus storefront.
      106-07 Guy R Brewer Boulevard, Jamaica, NY 11433
      View Details
    • $1,750,000
      1,120 SF

      Jamaica Estates Multi-Family Building

      Three-family building with vacant units in prime Jamaica Estates.
      86-66 Midland Parkway, Jamaica, NY 11432
      View Details
    • $1,080,000

      Professional Office Building For Sale

      Free-standing, two-story office building in prime location, delivered vacant.
      14610 Rockaway Boulevard, Jamaica, NY 11436
      View Details
    • $1,258,888
      3,500 SF

      New Construction Two-Family Home

      Spacious two-family home with finished basement, ideal for investors.
      160-15 118th Road, Jamaica South, NY 11434
      View Details
    • $974,999
      2,407 SF

      Jamaica Multi-Family Home For Sale

      Legal 2-family home with a full basement and private driveway.
      116-26 Merrick Boulevard, Jamiaca, NY 11434
      View Details
    • $60,000

      Jamaica, NY Multi-Family Opportunity

      Excellent location near transportation, schools, and libraries.
      16308 Hillside Avenue, Jamaica, NY 11432
      View Details
    • $1,549,000

      Modern Duplex in Jamaica, NY

      Luxury duplex with modern finishes, spacious layout, and convenient location.
      120-27 172nd Street, Jamaica, NY 11434
      View Details
    • $1,100,000

      Two-Family Home in Jamaica, NY

      Versatile two-family home near transportation and amenities in Jamaica.
      104-60 165th Street, Jamaica, NY 11433
      View Details
    • $975,000
      1,500 SF

      Forest Park Mixed Use Condo

      Versatile 1,500 square foot condo suitable for multiple uses.
      118-82 Metropolitan Ave, Unit condo 1b, Kew Gardens, NY 11415
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Cleared vacant lot near Hillside Ave with development potential.
    Where is this residential land & home lot located?
    The property is located at 88-16 168th Place Jamaica, NY.
    What is the asking price?
    The asking price for this property is $1,689,000.
    What are key features of this property?
    This property features: Approved plan for a **6‑story multi‑family building with 10 dwelling units** and a community facility available.; R6A Zoning with a FAR of 3 for residential and facility use.; **3000 SF cleared vacant lot ready for development.**
    (917) 202-9815
    We can help!
    Listing Contact
    Moniruzzaman R. Majumder CBR
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    88-16 168th Place, Jamaica, NY 11432
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!