114-02 Jamaica Ave Queens, NY 11418
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Prime Queens location, high NOI, strong cap rate.
Property size:
2,065 SFProperty Features for 114-02 Jamaica Ave
General Information
- Property type
- Mixed-use properties
- Square Feet
- 2,065 SF
Building Details
- Year Built
- 1920
- Buildings
- 1
- Stories
- 3
- Units
- 4
Listing Agency: EXP Realty, LLC Listing Agent: Jiangwei Zhou
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional mixed-use property at 114-02 Jamaica Avenue in Queens, New York, presents a compelling investment opportunity. The building, constructed in 1920, boasts 2,065 square feet across three stories and sits on a 2,065 square foot lot. Currently operating at 100% occupancy with four tenants, all credit-rated, under a net lease structure, the property generates a substantial net operating income (NOI) of $122,582, yielding a current cap rate of 5.84%. A pro-forma NOI of $155,180 projects a significantly improved cap rate of 7.39%. The property is zoned R6A and features a mix of residential and commercial units. The building is situated in the Richmond Hill neighborhood and is held under a ground lease by 114-02 LLC. The asking price is $2,100,000. This is a rare opportunity to acquire a well-performing, multi-tenant property with significant upside potential in a desirable Queens location. The property's strong tenant base and current high occupancy rate ensure a stable income stream, while the pro-forma projections indicate substantial growth potential. The property's mixed-use nature provides flexibility and diversification for investors. This is a turn-key investment ready for immediate income generation. The APN is 493041.
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.834642
- Latitude
- 40.698098
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FAQs
What type of property is this?
Mixed-use property - Prime Queens location, high NOI, strong cap rate.
Where is this mixed-use property located?
The property is located at 114-02 Jamaica Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Mixed-use building in desirable Richmond Hill, Queens.; Three-story, 2,065 sq ft building on a 2,065 sq ft lot.; 100% occupancy with four credit-rated tenants under net leases.
