Five-Unit Mixed-Use
For Sale
$2,598,000
9022 161st Street, Jamaica, NY 11432
Brick construction combines one commercial storefront with four residential apartments in a C4-4D-zoned property.
Property Size6,480 SF
Lot Size0.04 Acres
Days on Market52
Property Features for 9022 161st Street
General Information
Standard status
Active
Size
6,480 SF
Lot size
0.04 Acres
Property subtype
Residential Income
Zoning
C4-4D
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 2 x 3BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$203,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$48,597
Building Details
Building Size
6,480 SF
Year Built
2003
Buildings
1
Stories
4
Units
5
Construction
brick
Tenancy
Single
Listing Agency:
Apple Realty Group Corp
(347) 863-4216
Listed By:
Ai Li Voon
(347) 863-4216
Source:
Mahlerrealty
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Apple Realty Group Corp
Investment Insights
Based on property information with market context.
Located at 9022 161st Street in Jamaica, this mixed-use brick building contains one commercial storefront and four residential apartments across a five-unit configuration. The property was constructed in 2003 and measures 25.76 x 65, with a 25.76 x 70.13 lot. The commercial space is occupied by a restaurant tenant, while the residential layout includes one one-bedroom apartment, one two-bedroom apartment, and two three-bedroom apartments. Certain second- and third-floor units may be delivered vacant, while the fourth-floor apartment remains occupied.
The property is near Jamaica Center, with access to Target, Burlington, H&M, Marshalls, Shake Shack, Chipotle, Starbucks, supermarkets, banks, restaurants, and other retail and dining businesses. Jamaica Center–Parsons/Archer Station provides access to the E, J, and Z subway lines, while the LIRR, AirTrain JFK, and multiple bus routes connect the area with Manhattan, Long Island, and JFK Airport.
The property is near Jamaica Center, with access to Target, Burlington, H&M, Marshalls, Shake Shack, Chipotle, Starbucks, supermarkets, banks, restaurants, and other retail and dining businesses. Jamaica Center–Parsons/Archer Station provides access to the E, J, and Z subway lines, while the LIRR, AirTrain JFK, and multiple bus routes connect the area with Manhattan, Long Island, and JFK Airport.
Key Highlights
- Five‑unit composition with 1 commercial store and 4 residential apartments
- C4‑4D zoning with 25.76 x 70.13 lot dimensions
- Building dimensions of 25.76 x 65
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$158,400
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,168,000
$3.2M
Cap Rate 7%
$2,262,857
$2.3M
Cap Rate 9%
$1,760,000
$1.8M
Market Conditions
NOI Build-Up for 6,480 SF
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.
Gross rent
$299.4K $46.20/SF
− Vacancy
−$11.4K −$1.76/SF
EGI
$288.0K $44.44/SF
− OpEx
−$129.6K −$20.00/SF
NOI
$158.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,168,000
Cap Rate 7%
$2,262,857
Cap Rate 9%
$1,760,000
Alternative Uses
Best Use
Apartment 5plus
$2.26M
$1.98M – $2.64M
NOI $158,400 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$1.65M
$1.45M – $1.93M
NOI $115,668 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$4.78M
$4.18M – $5.57M
NOI $334,399 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick construction combines one commercial storefront with four residential apartments in a C4-4D-zoned property.
Where is this mixed-use property located?
The property is located at 9022 161st Street Jamaica, NY.
What is the asking price?
The asking price for this property is $2,598,000.
What are key features of this property?
This property features: Five‑unit composition with 1 commercial store and 4 residential apartments; C4‑4D zoning with 25.76 x 70.13 lot dimensions; Building dimensions of 25.76 x 65
