Two-Story Vacant Retail
For Sale
Contact for pricing
92-22 Guy R Brewer Boulevard, Jamaica, NY 11433
Newly renovated two-story retail building with ground, second-floor space and full basement, fully vacant for flexible use.
Property Size7,267 SF
Lot Size0.07 Acres
Price / SF$344.02
Days on Market81
Property Features for 92-22 Guy R Brewer Boulevard
General Information
Standard status
Active
Size
7,267 SF
Lot size
0.07 Acres
Property subtype
Retail
Zoning
C6-3/R9 Equivalent
Building Details
Stories
2
Units
1
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Donal Flaherty · License #NY
Source:
Crexi
Added: Jun 5
Changed: Aug 17
Last Checked: Aug 21 at 10:40PM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
92-22 Guy R. Brewer Boulevard presents a vacant, newly renovated two-story retail building. The property sits on a 26 ft by 119 ft lot totaling 3,112 square feet, and is located within an R9 zoning district with a 7.2 FAR, for approximately 24,896 buildable square feet. The existing building includes approximately 3,300 square feet on the ground floor and approximately 2,500 square feet on the second floor, plus a full basement. The building will be delivered fully vacant.
Situated in Jamaica, Queens, the property is described as being within walking distance to the Jamaica LIRR Station, providing direct access to Manhattan in approximately 20 minutes. The remarks also note access to multiple subway lines and major transportation hubs, supporting connectivity for retail users and visitors.
This configuration can serve an investor looking for a turnkey vacancy, an owner-user intending to occupy retail space across two levels, or a buyer evaluating redevelopment under the site’s R9 zoning and stated FAR. With a full basement and separate ground and second-floor areas, the asset may also support a variety of layout approaches for tenants seeking street-level and upper-level merchandising or service space.
Situated in Jamaica, Queens, the property is described as being within walking distance to the Jamaica LIRR Station, providing direct access to Manhattan in approximately 20 minutes. The remarks also note access to multiple subway lines and major transportation hubs, supporting connectivity for retail users and visitors.
This configuration can serve an investor looking for a turnkey vacancy, an owner-user intending to occupy retail space across two levels, or a buyer evaluating redevelopment under the site’s R9 zoning and stated FAR. With a full basement and separate ground and second-floor areas, the asset may also support a variety of layout approaches for tenants seeking street-level and upper-level merchandising or service space.
Key Highlights
- Vacant, newly renovated two‑story retail building in Jamaica, Queens, with ground floor, second‑floor, and a full basement
- 3,112 SF site on a 26 ft x 119 ft lot in an R9 zoning district; 7.2 FAR for approximately 24,896 buildable SF
- Building includes approx. 3,300 SF ground floor and approx. 2,500 SF second floor, plus full basement
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
$129,716
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
5.19%
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%
$2,594,320
$2.6M
Cap Rate 7%
$1,853,086
$1.9M
Cap Rate 9%
$1,441,289
$1.4M
Market Conditions
NOI Build-Up for 7,267 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
$218.0K $30.00/SF
− Vacancy
−$32.7K −$4.50/SF
EGI
$185.3K $25.50/SF
− OpEx
−$55.6K −$7.65/SF
NOI
$129.7K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,594,320
Cap Rate 7%
$1,853,086
Cap Rate 9%
$1,441,289
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,716 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.36M
$4.69M – $6.25M
NOI $375,012 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,902
Businesses Nearby
Explore this area
Business Placement
Demographics for 11433, NY
39,071
Population
11,849
Households
3.3
Avg Household Size
37
Median Age
19%
College-Educated
77%
High-School Grad
1.5 sq mi
ZIP Area
26,047
Density / Sq Mi
$71,177
Median Household Income
$39,540
Median Earnings
$1,529
Median Rent
$625,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly renovated two-story retail building with ground, second-floor space and full basement, fully vacant for flexible use.
Where is this retail space located?
The property is located at 92-22 Guy R Brewer Boulevard Jamaica, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Vacant, newly renovated two‑story retail building in Jamaica, Queens, with ground floor, second‑floor, and a full basement; 3,112 SF site on a 26 ft x 119 ft lot in an R9 zoning district; 7.2 FAR for approximately 24,896 buildable SF; Building includes approx. 3,300 SF ground floor and approx. 2,500 SF second floor, plus full basement
