Mixed-Use Building with
For Sale
$789,000
9703 Jamaica Avenue, Jamaica, NY 11421
Vacant commercial and residential configuration offers flexibility for occupancy, renovation, or leasing.
Property Size1,901 SF
Price / SF$415.04
Days on Market232
Property Features for 9703 Jamaica Avenue
General Information
Standard status
Active
Size
1,901 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$20,300
Building Details
Building Size
1,901 SF
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
EXP Realty
(732) 687-6656
Listed By:
Yanli Zhang · License #10401364927
Source:
Cbwarburg
Added: Dec 23, 2025
Changed: Aug 5
Last Checked: Aug 11 at 12:34PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This mixed-use building combines a ground-level commercial storefront with one residential unit positioned above. The property is fully vacant, allowing an owner-user or investor to determine the next operating plan without an existing tenancy in place.
Constructed in 1925, the building is located at 9703 Jamaica Avenue in Jamaica, New York. Its two-part layout supports separate commercial and residential functions within one property, with the storefront suited to retail use and the upper unit providing residential space.
Constructed in 1925, the building is located at 9703 Jamaica Avenue in Jamaica, New York. Its two-part layout supports separate commercial and residential functions within one property, with the storefront suited to retail use and the upper unit providing residential space.
Key Highlights
- Ground‑level commercial storefront with one residential unit above
- Fully vacant, allowing flexible occupancy, renovation, or leasing plans
- Located at 9703 Jamaica Avenue in Jamaica, NY 11421
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
$46,469
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
5.89%
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%
$929,380
$929.4K
Cap Rate 7%
$663,843
$663.8K
Cap Rate 9%
$516,322
$516.3K
Market Conditions
NOI Build-Up for 1,901 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
$87.8K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$84.5K $44.44/SF
− OpEx
−$38.0K −$20.00/SF
NOI
$46.5K $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%
$929,380
Cap Rate 7%
$663,843
Cap Rate 9%
$516,322
Alternative Uses
Best Use
Apartment 5plus
$663.8K
$580.9K – $774.5K
NOI $46,469 @ 7.0% cap · market cap 5.89%
Second Best
Retail
$484.8K
$424.2K – $565.6K
NOI $33,933 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,101 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 11421, NY
42,586
Population
12,776
Households
3.3
Avg Household Size
38
Median Age
26%
College-Educated
79%
High-School Grad
1.3 sq mi
ZIP Area
32,758
Density / Sq Mi
$89,439
Median Household Income
$40,934
Median Earnings
$1,901
Median Rent
$682,800
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 - Vacant commercial and residential configuration offers flexibility for occupancy, renovation, or leasing.
Where is this mixed-use property located?
The property is located at 9703 Jamaica Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Ground‑level commercial storefront with one residential unit above; Fully vacant, allowing flexible occupancy, renovation, or leasing plans; Located at 9703 Jamaica Avenue in Jamaica, NY 11421
