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    85-05 Jamaica Ave Queens, NY 11421

    Sponsored
    For Sale
    $1,580,000

    Prime Queens location, high ROI potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 85-05 Jamaica Avenue in Queens, New York, presents a compelling investment opportunity. The building, constructed in 1931, features a 3,100 square foot net rentable area spread across two stories. The property includes a ground-floor storefront ideally suited for retail use, currently configured as a grocery store, offering high visibility and significant foot traffic due to its prime location on Jamaica Avenue. Above the retail space are two residential units, providing an additional income stream. The property sits on a 2,035 square foot lot and is zoned R6A, offering potential for future development. The current Net Operating Income (NOI) is $94,836, resulting in a 6.00% capitalization rate. Pro forma projections indicate a 7.50% capitalization rate, showcasing significant upside potential. This is a rare opportunity to acquire a mixed-use property in a high-traffic area with strong potential for both retail and residential income. The property's proximity to the J/Z train station at 85th Street further enhances its appeal and accessibility. This investment offers a unique blend of immediate income generation and long-term growth prospects. The asking price is $1,580,000.

    Property Features for 85-05 Jamaica Ave

    General Information

    Property type
    Individual retail properties
    Class
    C

    Building Details

    Year Built
    1931
    Buildings
    1
    Stories
    2
    Units
    2

    HighLights

    • Mixed‑use property at 85‑05 Jamaica Avenue, Queens, NY.
    • 3,100 square foot net rentable area on a 2,035 square foot lot.
    • Ground floor retail space (currently a grocery store) with high visibility and foot traffic on Jamaica Avenue.
    • Two residential units above retail, providing additional income.
    • R6A zoning allows for potential future development.
    • Current NOI: $94,836, 6.00% cap rate; Pro forma: 7.50% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brothers farm llc Grocery Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.8588484
    Latitude
    40.6926874

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    FAQs

    What type of property is this?
    Individual retail property - Prime Queens location, high ROI potential.
    Where is this individual retail property located?
    The property is located at 85-05 Jamaica Ave Queens, NY.
    What is the asking price?
    The asking price for this property is $1,580,000.
    What are key features of this property?
    This property features: Mixed-use property at 85-05 Jamaica Avenue, Queens, NY.; 3,100 square foot net rentable area on a 2,035 square foot lot.; Ground floor retail space (currently a grocery store) with high visibility and foot traffic on Jamaica Avenue.
    Request Owner's contact information
    85-05 Jamaica Ave Queens, NY 11421
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    Queens, NY 11421
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    Realmo Value Estimation

    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.

    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.

    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
    85-05 Jamaica Ave Queens, NY 11421
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