Multi-Story Retail Building with Street
88-22 Roosevelt Avenue, Jackson Heights, NY 11372
COMMERCIAL - Jackson Heights, NY
Property size:
2,818 SFLot size:
0.03 AcresPrice / SF:
$656/SF- Added:
- Sep 6, 2025
- Days on Market:
- 302
- Last Refresh:
- Jul 4 at 2:06 am
Property Features for 88-22 Roosevelt Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 2, Bathroom 1
- Standard status
- Active
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 25609
Utilities
- Water source
- Public
Building Details
- Year built
- 1989
- Floors in Building
- 2
- Building materials
- Masonite, Brick
Listing agent Mi Ryoung Chong (718) 961-8801
Listing office HANMI REALTY 37 17 UNION ST, FLUSHING, NY (718) 961-8801
Listing date Sep 6, 2025
MLS# 11570166
Copyright © 2026 My State 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
- 3 commercial units built in 1989 with total around 2,818 SF, suitable for retail, medical, offices, or community space
- Street‑side beauty salon about 950 SF renting for $5k+ utilities month to month; fresh paint and tile floors
- Cellar unit about 918 SF renting for $3,200+ utilities month to month; second floor about 950 SF for $3k monthly plus utilities
- Current net income around $68k+ per year; conservative pro forma notes potential yearly net income $100k+ at a 5% cap with full occupancy
- Zoning C2‑3 and R6; Building Class K2 (multi‑story retail); yearly property taxes $25,609
- Lot size about 1,093 SF; construction materials Masonite and brick; sold as is
Overview
This multi-story commercial building contains three units built in 1989, totaling approximately 2,818 square feet. The street-side floor is described at around 950 square feet and is currently occupied by a beauty salon on a month-to-month basis, with fresh paint and tile floors noted. A cellar unit is described at around 918 square feet, also renting month-to-month. The second floor is described at around 950 square feet and is available to rent, with monthly rent stated at $3,000 plus utilities. The offering is sold as-is.
The property is located at 88-22 Roosevelt Avenue in Jackson Heights, Queens, with reported strong street frontage and sign visibility. Public remarks cite foot traffic and 12,000+ cars per day, and describe convenient access to multiple transit options, including the #7 train near 90th St & Elmhurst Ave, along with nearby subway lines and bus service.
The configuration can support retail, medical, office, and community use types, including options such as houses of worship, seminaries, schools, day or adult care, and non-profit uses, subject to consultation with an architect and attorney. The seller also notes current net income of around $68,000+ per year and provides a conservative proforma under full occupancy; current tenants include the beauty salon and the cellar tenant. Building class is K2 (multi-story retail building), and zoning is listed as C2-3 and R6.
The property is located at 88-22 Roosevelt Avenue in Jackson Heights, Queens, with reported strong street frontage and sign visibility. Public remarks cite foot traffic and 12,000+ cars per day, and describe convenient access to multiple transit options, including the #7 train near 90th St & Elmhurst Ave, along with nearby subway lines and bus service.
The configuration can support retail, medical, office, and community use types, including options such as houses of worship, seminaries, schools, day or adult care, and non-profit uses, subject to consultation with an architect and attorney. The seller also notes current net income of around $68,000+ per year and provides a conservative proforma under full occupancy; current tenants include the beauty salon and the cellar tenant. Building class is K2 (multi-story retail building), and zoning is listed as C2-3 and R6.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| 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 Uses
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
Location Insight
- Map
- Local Demand
- City
- Jackson Heights
- County
- Queens
- State
- New York
- Longitude
- -73.877879
- Latitude
- 40.748102
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Three built-in-1989 retail and office units with street frontage and fresh paint; flexible for medical, offices, or community.
Where is this retail space located?
The property is located at 88-22 Roosevelt Avenue 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: 3 commercial units built in 1989 with total around 2,818 SF, suitable for retail, medical, offices, or community space; Street‑side beauty salon about 950 SF renting for $5k+ utilities month to month; fresh paint and tile floors; Cellar unit about 918 SF renting for $3,200+ utilities month to month; second floor about 950 SF for $3k monthly plus utilities
