Retail, Medical, Office, Community
88-22 Roosevelt Ave, Jackson Heights, NY 11372
Retail Medical Office Community Facility Three Units Next To Subway!
Property size:
2,818 SFLot size:
0.03 AcresPrice / SF:
$656/SF- Added:
- Feb 21, 2026
- Days on Market:
- 94
- Last Refresh:
- Apr 29 at 6:12 pm
Property Features for 88-22 Roosevelt Ave
General Information
- Standard status
- Active
- Property type
- Storefront properties, Churches & religious facilities, Medical Office Space, Retail properties & Spaces, Specialty properties, Office Spaces
- Size
- 2,818 SF
- Net Rentable
- 2,818 SF
- Elevators
- No
- Lot size
- 0.03 Acres
- Occupancy
- 67%
- Net Operating Income
- $68,000
Building Details
- Year Built
- 1989
- Buildings
- 1
- Stories
- 2
- Units
- 3
Listing agent Diane Mi Ryoung (718) 640-4431
Listing office (718) 640-4431
Listing date Feb 21, 2026
HighLights
- Next to #7 train with great street frontage, sign visibility, foot and 12k+ car traffic per day!
- Suitable for retail, medical, offices and community facilities such as a house of worship, seminary, school, day or adult care and non profit.
Overview
This commercial property, built in 1989, offers approximately 2,818 square feet of space suitable for retail, medical offices, and community facilities such as houses of worship, seminaries, schools, and day or adult care centers. The property features three units, which can be combined. The location benefits from high street frontage, sign visibility, and substantial foot and vehicular traffic. A beauty salon occupies approximately 950 square feet on the street-level floor, renting for over $5,000 monthly, plus utilities, on a month-to-month basis. The cellar unit, around 918 square feet, is rented for $3,200 monthly, plus utilities, also month to month. The second floor, approximately 950 square feet, is available for rent at $3,000 monthly, excluding utilities, and features fresh paint and tile floors. The property is situated next to the #7 train at 90th St and Elmhurst Ave, offering convenient access to ethnic restaurants, cafes, shops, supermarkets, pharmacies, medical facilities, and various other amenities. It is also near ModernMD Urgent Care, Mount Sinai Medical, Elmhurst Hospital, and other services. The location provides access to multiple transit options from the 74th St and Roosevelt Ave hub, including the E, F, M, R subways, and several bus lines. The lot size is 1,093 sq ft with zoning C2-3, R6. The building is classified as K2 - Multi-Story Retail Building (2 Or More).
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.03M
NOI $92,779 @ 9.00% cap · cautious / downside scenario
Moderate
$1.33M
NOI $92,779 @ 7.00% cap · market / base-case scenario
Aggressive
$1.86M
NOI $92,779 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $142.0k | $50.40 |
| − Vacancy | −$18.3k | −$6.50 |
| EGI | $123.7k | $43.90 |
| − OpEx | −$30.9k | −$10.97 |
| NOI | $92.8k | $32.92 |
2,818 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,779 @ 7.0% cap · market cap 5.02%
Second Best
Healthcare Medical
$928.2K
$812.2K – $1.08M
NOI $64,977 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,422 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Blue Danube Productions
Film Production
Madison's Beauty Salon
Hair Salon
Similar Places Nearby
- Sussy's Florist — 81-10A Broadway, Queens, NY 11373
- Ocasiones Flowers Shop — 42-20 Junction Blvd, Corona, NY 11368
- International Flowers & Party Goods — 4220 Junction Blvd, Elmhurst, NY 11373
- Bettys Total Events — 94-33 Corona Ave., Elmhurst, NY 11373
- John David Florist - Flower Delivery Queens NY — 8277 broadway, queens, ny 11373
Location Insight
- Map
- Local Demand
- City
- Jackson Heights
- County
- Queens
- State
- New York
- Longitude
- -73.8778754
- Latitude
- 40.7480364
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Retail Medical Office Community Facility Three Units Next To Subway!
Where is this storefront property located?
The property is located at 88-22 Roosevelt Ave Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Next to #7 train with great street frontage, sign visibility, foot and 12k+ car traffic per day!; Suitable for retail, medical, offices and community facilities such as a house of worship, seminary, school, day or adult care and non profit.
